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! <br />! <br /> <br />ANOKA COUNTY COMMUNITY ACTION PROGRAM (ACCAP) <br />HOUSING PROPOSAL <br /> By: Cindy Sherman, Community Development Director <br /> <br />CASE <br /> <br />Background: <br /> <br />At the January 26, 1999 meeting the City Council discussed the housing development proposed <br />by ACCAP on the southwest comer of 153ra Ave. and Hwy 47. The discussion was in reference <br />to the location of the project and the obligation of the City to move ahead if a suitable site can <br />not be found. Staff was directed to draft language for Council consideration that would allow <br />the funding request to move forward and still allow the City some discretion on site selection and <br />site plan issues. <br /> <br />Observations: .:' <br /> <br />As a result of the discussion ACCAP has written two letters to the City indicating their <br />expectations of the City. The first letter outlines the limits of ACCAP's request for funding and <br />that it is limited to the initial request for TIF and no other financial assistance will be requested. <br />The second letter states that they are willing to look at other locations and that City action <br />indicating support can be general in nature and not site specific. <br /> <br />Recommendation: <br /> <br />The Economic Development Authority reviewed this request at their January 12 meeting. The <br />EDA generally supports the idea of assisting with financing affordable housing. However, they <br />were not sure that the location proposed was the best site for this development. The information <br />that ACCAP used in the site selection process has been provided to the City and is attached for <br />Council review. <br /> <br />The EDA recommends that the City Council commit to the creation of a Tax Increment <br />Financing district with the intent of financing a housing development with Anoka County <br />Community Action Program of up to 40 housing units on a site to be approved by the City. The <br />recommendation is subject to the successful completion of the city review process and securing <br />low-income housing tax credits form the Minnesota Housing Finance agency with a Tax <br />increment Financing District life of up to 20 years. <br /> <br /> <br />