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I <br />I <br /> <br />I <br />I <br />I <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />Anoka County Senior Housing Development <br /> <br />July 12, 1995 <br /> <br />Project Description <br /> <br /> · 100 units of market rent housing <br /> <br /> · 55,000 to 65,000 per unit cost (includes all construction and soft costs exclusive <br /> of land) <br /> <br /> ·65,000 units - Many amenities including underground parking <br /> <br /> · 55,000 units - Less amenities no underground parking <br /> <br /> · $175.00 per uait average monthly operating expense <br /> <br /> · Total Project Costs $5,500,000 to $6,500,000 <br /> <br /> o I-IRA Tax Levy of municipalities participating will total $200,000 <br /> <br />SCENARIO NO. 1 <br /> · $6,500,000 Total Cost <br /> <br /> · 7 Year $200,000 Contribution <br /> <br /> · $450i00 Monthly Rent <br /> <br />SCENARIO NO. 2 <br /> · $6,500,000 Total Cost <br /> <br /> · 5 Year $200,000 Contribution <br /> <br /> · $550.00 Monthly Rent <br /> <br /> <br />