Laserfiche WebLink
CCHT Request for Funding Support- Page 1 of 2 <br />REQUEST FOR HRA ACTION <br /> <br />Date: 6-20-06 <br />Item No: 8.b. <br />Director Approval: Agenda Section: <br /> CB Action Item Description: Support for Har Mar Ap artments Renovation Funding to Central <br />Community Housing Trust (HF0039) <br /> <br /> <br />1.0 Requested Action <br /> <br />1.1 The Central Community Housing Trust (CCHT) is requesting the Roseville HRA’s <br />support for the following in regards to the renovation and redevelopment of the Har Mar <br />Apartments in Roseville. (See attached request letter) <br /> <br />a. Resolution of Support for Minnesota Housing Financing Agency Consolidated <br />RFP Application <br />b. Support to explore the use of tax increment financing for the project <br />c. Support to explore the use of HRA funding in the amount of $350,000 for the <br />project. <br />d. Letter indicating that the project is consistent with the Housing Goals of the City <br />and within the City’s redevelopment plan. <br /> <br />2.0 Background <br /> <br />2.1 CCHT is a leading Twin Citie s non profit housing developer and owner of affordable <br />housing. Since 1986, CCHT has built and re novated nearly 1,300 housing units. CCHT <br />strives to provide high-quality, people-oriented design to help stabilize lives and transform <br />communities. A presentation by CCHT wa s provided to the HRA in 2005 and an <br />introduction to their possible participation in the badly needed renovation of the Har Mar <br />apartments was introduced. <br /> <br />2.2 The Har Mar Apartments are in need of major renovation and repair. The 40 year old <br />complex has been experiencing deferred maintenan ce over the years. However, this property <br />serves a great need for affordable apartment liv ing in the community. Currently the site is <br />50% vacant which indicates, even with its afford able rents, its condition is not conducive to <br />a quality living environment. <br /> <br />2.3 CCHT has purchased the 120-unit Har Mar Apartments located at Snelling and Hwy 36. <br />CCHT plans to renovate the existing units and create 30 two bedroom units within the <br />existing buildings. This would result in a 20 unit reduction to a total of 100 existing units <br />on the site. In addition, CCHT plans to build new housing on the site that would provide <br />a total mixed-income rental housing complex with affordable workforce units targeting <br />people earning modest wages as well as t hose households earning higher wages. CCHT’s