HomeMy WebLinkAbout5.b. HRA Multi-Family Project (�1 P O E�(�X 510
Zll� � 2875-145TH ST W
OSC'�YYLQZ�-�� ROSEMpUNT. MINNESOTA 55(tG8
612-423-4411
Agenda Item 5b.
TO: MAYOR, CITY COUNCIL, CITY ADMINISTRATOR
FROM: DEAN J�IHNSON, DIRECTOR OF COMMUNITY DEVELOPMENT
DATE: JANUARY 12, 1990
SUBJ: ROSEMQUNT TOWNHOUSES - AGENDA ITEM Sb.
This item was on the January 2, 1940 Regular Meeting Agenda. It regarded a tequest by
the Rosemount Townhouses Partnership to receive mortgage assistance from the Dakota
County HRA for a 3Ea-unit muldple family housing developmeni. We advised the Council
we knew too little about the development to support the proposal.
Mike Wozniak and I l�ave met with the general partners and project architect on different
occasic�ns. We have a tentative site plan, which illustrates the concept for the site, as well
as some photographs that lypify the type of construction.
The developers are in agreement to plat the property, pay park dedication fees and
construct a trait along Dodd Boulevard. They are preparing a rendering of the proposed
development and a letter of commitment to the City�regarding the development.
Staff have requested these items, as well as a present$tion at the meeting, to better inform
the Counci) of the devel�pment. The action being requested of the City Council is to aliow
the Dakota County HRA t�proceed with mortgage Gnancing for the development. Formal
development reviews will follow the norma( process in the future.
Having had the up�x,rtunity to meet wilh thc dcvelc�pers, I am in full support of the
proposal. I betieve the partners have the strength and experience to provide additianal
rental opportunities in the City in a quality fashion. The managing partners will be at the
meeting to answer any questions the Council may have at this time.
�3ENERAL PART�RS '
Name Experience
Denver Kaufman } Senior partners in law firm
Roger Schnobrich} af Popham, Haik, Kaufman and
Schnobrich, 3300 Piper Tawer,
Minneapolis, Minnesota.
General Partners: Meadow
Woods of Bloomington - a 110
unit, assisted-living
residen�e for �eniors on the
campus of Martin Luther Manor
in Bloomington.
General Partners: Knox
Landinc� et. al. - a 306 unit
MHFA-financed elderly/family
Section 8 development on
three sites in Bloomington.
Built in 1977.
F. W. Nichols: President - Universal Property
and Mortgage Services, In�.
dba F. W. Nichols Financial
Company. The Company
specializes in the financing
of FHA-insured multifamily
rental developments.
Mr. Nichols if a former Senior
, Vice President of L. J. Melody
& Company of Houston, Texas
and Northland Mortgage Company
of Minneapolis. In bath
capacities he headed their
Government Finance Housing
Divisions. He has arranged
apartment financing for
projects throughout the
Minneapolis-St. Paul metro
area and through Texas and
Arizona. He has been a
limited partner in several
FHA-insured rental projects.
Michael W. Conlan: Vice President - Universal
Property and Mortgage �
Services, Inc. dba F. W.
Nichols Financial Compan�.
Mr. Conlan is a former Vice
President for The Boisclair
Corporation and developed
Seatian 8 rental housing
�rojects for Ryan Development
in Cottage Grove, Oakdale and
Anoka Countx. He served as a
senior housing development
., officer for MHFA and was a
Vice President of Northland
Martgages' Government Finance
Division. Mr. Conlan developed
and is a general partner in
the Meadow Woods of
Bloomington resi�ence.
,.,.
�---; ��.w.ra�cHOLs Fmr,�rc�L coMrArr�r
7777 Washington Avenue South
' Edina,Minnesot.�55435
(612)829-0899
A U.T.F.CCotnpiny
January 8, 1990
Ms. Kathleen A. Stadther
Gommunity Development Planne�
Dakota County Hc�using .,& Redevelapment Authorit�
2496 145th Stre�t West
Rasemount, Minneosta 55068
RE: Rosemount Townhouses
Rosemount, Minnesota
Dear Ms. Stadther:
T am writing as a follaw-up to your letter of
December 21, 1989. I understand that we are on the agenda
for the HRA meeting at 5:30 p.m. Tuesday, January 9.
In the meantime, I wanted to provide you with some of the
additional information which you requested:
1) The �ption Agreement (complete with some
misspelled names) is enclased for your
� revi�w.
2) The builder for this project will be Bar-Son
Corporation, Bloomington, Minnesota (brochure
attached) .
3) The accountant will be Silverman & Olson of
Minneapolis (brochure attached) .
4) Background on the General Partners is attached.
5) Architectural �lans will be submitted to you on
an ongoing basis as we complete eaGh stage. I
expect by next week to provide you with a
prelim�inary site plan and unit layouts.
6) The basic design concept is: 36 three-bedroom
townhouse-style apartments each with private
entry, 1 1/2 bath, in-unit storage, 1-2 levels,
detached garages, with extensive play
areas for children. The units are being
designed for low and moderate income families.
We expect that many, if not all, of the
residents will qualify for the Voucher or Section
8 Certificate program. The pro�osed average rent
including an allowance for util�.ties wili be
approximately $675/month (a preliminary FHA
proforma is attached) .
�,
Ms. Kathleen A. Stadther
January 8, 1990
Page 2
I hope this information will be of assistance and we look
forward to working with you on �his family housing
development.
Sincerely, '
._.. ;-� � c�_.(,, � �1 ���.�.��{
. �,C,(..,`t ('�C c _,ti.J,.,,,
/. ,��
Michael W. Conlan '� •�'
Vice President
829-0899
MWC:bas
Enc.
v...
�
r
e � � '� .. . . .
. .
�' . �� , ' ._ __ - _
. ` �
`� ��� �
�
� . ...
�. . ... . . ,,..�:.. ,,..., ...,,� ....;..-. v
a . ,. .,.._ . ..... ,. ,...
� �
'�...-" r,-,.:_,.
:�r ��+fi
��
z'�`�
.: � �
` f
� � _ .
: — "-�. ' � t
. � •', ti , _, , �, ,._.
�'���� C �.� �
�� i§t'
d�">
;y
�dt.^
1
•_3�- iY..S �... *-w--r..:....x zxr� ,..: ,
..P_ ',: • ,..�,..,;
I
�xk
!"�
....... -...� ... .. , ,. .. �`�..�
;.
.
C„r>
S'
.
�
� s .Rrjr�� i _ ".�S�Imm" �� � 3-az�iy p+
��� � ��� �� � ��� �" � �.�����,. �
� , � �_.;,
� > ��a� �
M
� a , ��.���;���� �4�� � �
f � V
ppp'�y 1
�{ kl�
w r �„ i
�( ZI�I���ua r� d� ��'
'3��� F �
�� �'�y' � � �
� ' V�� � ' �"� � . rs
�F � yUM!l.d��::�.
[ ■ �
': E�1�
� �■ � `
�■
.� �.;
.� � � J z�,3 �
..
{
.{� _ '�-.�.�.�t �-+ i ` ��� k,o'-s.
..� �� ' �� � z•� .
��v�,„�- ,
t �' ��� k4i•�r� �• i.
� � r°��Y.��''4� 3� } t w�
� � Y k
�'R,�":� �,}
� r �3 v
.i��i3.�r:�����rr� '
i —
I , ,., . , a �. ,z� � , �.
IIII��� _ .
��� ���
III , . f
....__.__ :.
�� _ �� �
� �� _
.■��. -
\
t
,�.
, i
�
',
�
��_� � ,��, r ! �P . p r� },.
� �.� r .
� � -, n �����'Xw�' � � ,��,
�� s �:
�� � �rr � ��. � x
- 1rr�+Nt��� ,,,'� " 4 "ii .,,. . . k h � 4
�++. "� � I'f
����i(.� .r�'��� ��� , �
b�",,��v'�"�'���'�,�i�ary��,,�,,..s. ' �
. ;
� � � � � , � .
i,.r . .. .. _. .. t°
., , �
r �
i, "� ' ' 1 +
� � '�7 �
> � � ��,'� � � I
i �+,
. . , . .� . , . . . . . �. . � ..
' . . . `.t.�!� .
. / � i"7' � ��+�,� �a"°'�" ,�a°� �x��r''�
� � s��k
��.� '�'° � s.,� _�.:`:�w���,���',
�� � �.
� +u '�� ` : 4.��� .
1�
�
, ,y ,'_ �. �,._ . ..._ <.:: . :..�..._. . .. ,,..��.,...
iV �w . - � -
�
� , , ��,1� �
I � � � � ! � ��. �: , �. "'� �
� � .
�—� � ��'�� ,
d, ,; ��•t � .
, � . �,� ..
� � „�-� �� - ��� � � � � � �
. : '� ,
� � � � � � � ;�'.
� -�:
..._.; ..
e _. � ..:, �
, _�,_:. _ ..� ,. � ,.. .� .. .�.
'" � ': r.W.NICHO{.S FINANCTAL CUMI'ANY � ��
~ , ?777 Wachingkm Avrmic Si�dh
Lciina,R1inn���o S5�t:15
(612)829-118�9
n u.r.�.cc��y
January 16, 1990
Mr. Dean R. Johnson
Director of Community �evelapment
City of Rosemount
2875 145th 5treet West
Rasemount, Minnesota 55068
RE: Proposed Rer�tal Townhouse
Froject at 145th and Cimarron Avenue
Dear Dean: �
On behalf of the Partners sponsoring the above referenced
project I would like to thank you for the time which you
and Mike spent with us last week reviewing this proposal.
As a follow-up to that meetinq I have been authorized to
commit the Partners to the following:
1) The platting of this site prior ta st�rt af
construction
2) Payment af a park dedication fee �o the City
3) Join with the City in implementing the plan ta
provide an area trail s�rstem - a segment of whicl�
would be adjacent to this site
4) Use of high quali.t�r materials and finishes for
• the project includinq a full maintenance free
exterior throuqhout and the use of brick where
appropriate.
. ��
Mr. Dean R. Johnson
January 16, 1990
Page 2
We hope that these commitm�nts will h�lp assure the eitx '
of our desire to make a long-term £inancial investment �.n
Rasemaunt and to coo�aerate fully in addressing the issues
which require attention in the development af this
housing opportunity.
Thank you again for your ongoing assistance.
Sincerely,
�
�
�
W
Mich el W. Conlan
Exec tive Vic� President
829-0899
MWC:bas
c.c. F. W. "Nick" Nichols - Partner
Denvex Kaurman - Partner
Roger Schnobrieh - Partner
Stan Fishman - SFA Architects
Don Jacobson - Borson