HomeMy WebLinkAbout8.b. Cimarron Village Townhouses LIHTC Program c�. .. .� . . . . � . . . . .
{nV P.O. BOX 510
✓Z�2�. 0 2875-145TH ST. W.
OSG�OZC/G� ROSEMOUNT. MFNNESOTA 5506$
612-423-4411
IT�M � ��
TO: MAYOR NAPPER, CITY COUNCIL, CITY ADMINISTRATOR
FROM: TRACIE L. PECHONICR, E.D. SPECIALIST
DATE: JUNE 28, 1990
SUBJ: CIMARRON VILLAGE TOWNHOUSES LIHTC PROGRAM, r.�
�
Attached is information from the Dakota County Housing and
Redevelopment Authority in reference to the Low Income Housing Tax
Credit Program which is being proposed for use at the Cimarron
Village Townhouses. Page two of the attaehment explains the basics
of the project, Steve Jilk has a copy of the entire application if
anyone wishes to review it.
Because the Cimarron Village Townhouse Project wi11 be located in
Rosemount, we have the opportunity to comment on the use of LIHTC
funds for the Project prior to the July 10th Dakota County HRA
Baard Meeting. As the City Council has already approved of the
Cimarron Village Townhouse Project, staff respectfully recommends
that the Council make a motion in support of using the LIHTC
Program in conjunction with the Cimarron Village Townhouses.
Steve Jilk will be present at Tuesday's meeting to answer any
questions you may have about this program.
�
REQUESTED MOTION: The Rosemount City Council supports the use of
funds which may be allocated throuqh the Low Income Housing Tax
Credit Proqram for the Cimarron Village Townhouses.
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DAKOTA COUNTY Housing&Redevelc�pment Authority
2496-14�ch St.W. • Rosemount,MN 35068•612-423-4800• Fax 612-423-2422
June 21, 1990
. �•
Mayor Rollan Hoke
Rosemount City Hall
2875 145th Street West
Rosemount, MN 55058
RE: Low Income Housing Tax Credit Application
for Cimarron Village Townhomes
Dear Mayor Hoke:
The Dakota County Housing and Redevelopment Authority (HRA)
received an application for Low Income Housing Tax Credits (LIHTC)
from the Cimarron Village Townhouses proj�ect in Rosemount. One of
the federal requirements of the LIHTC program is that the
allocating agency (in this case, the Dakota County HRAj notify the
Chief Executive Officer of the locality in which the project is
located and give them an opportunity to comment.
Although we are sti11 reviewing the applications, this project may
be recommended for receiving an allocation of LIHTC at the July
lOth Dakota County HRA Board Meeting. If you have any comments on
the project or regarding the use of LIHTC for this projects, please
submit them in writing to me by July 1.0, 1990, so that they can be
considered at the Board meeting if this project is recommended to
receive an allocation of LIHTC.
I have submitted a copy of the actual application to Stephan Jilk.
Attached is a brief description of the project.
Please contact me at 423-4800 with any questions. -
Sincerely,
/ . � .? R
�%���r �`� ;-�C�"
Kari R. Gill
Deputy Director
�cc: Stephan Jilk, City Administrator
"AN EQUAL OPPORTUNITY EMPLOYER"
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CIMARRON VILLAGE TOWNHOUSES - PROJECT SUMMARY
The Cimarron Village Townhouses are a proposed low-income townhome
style development to be located along 145th Street and Cimarron
Avenue. The project is designed specifically for families with
children, and will consist of 36 three bedraom units. Each unit
will contain approximately 94b square feet. In addition, there
will be 36 detached garages available for tenants, with a total o£
72 available parking spaces. Unit rents will be $650 per month,
which includes all expenses but electricity for lighting, cooing
and air conditioning. The project contains a centrally located
community building with meeting rooms, kitchen, laundry facilities
and management office. A children's play area will be located
adjacent to the community building.
The proj ect will be f inanced with FHA insured taxable bonds and low
income housing tax credits (if awarded) .