Agenda - Council Work Session - 10/07/2003

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RE(YD OCT 03 2003 14501 Y~rowthxm C3£vd qLarasey 5?L0[ 5Y303 763-427-H00 October 3, 2003 Pat Trudge0rt, Principal Planner City of Ramsey 15153 Nowtlaen Blvd NW Ramsey MN 55303 Dear Pat, ',, We appreciate your meeting with us to review the Life Village project early this fall. The following is a description of our project I. Life Village is a non-profit corporation wholly owned by Lord of Life Church. 2. The purpose of Life Village is solely to provide housing services for senior citizens. 3. The Project will encompass approximately 10 acres On the northeast side of the Lord of Life property (on Hwy 47). This site will support the construction of two- 46 unit senior residences. The first one to be on the north end of the property. 4. Lord of Life, through its appointment of Life Village board of director members, will continue to provide direction for the operation of this facility. 5. Several housing studies indicate that there is now, and will continue for a number of years, a need for senior housing in-this area. 6. Lord of Life is pr0vlfling a service to the community in this project much like the city has with Savannah Oaks. 7. The project needs to be financed as an "entrance deposit commum.'ty" which means that a significant amount of fees and equity for mortgage financing will be provided by renter entrance deposits. These monies won't be available until during construction. 8. The units in this building will average less than two persons per unit. 9. The Metropolitan Council senior program encourages the development of senior housing services. 10. The project will return ten acres of land to the city's tax base and the structure will add more than $4 million to the city's tax base. As we discussed there are several problems impacting this project that we need assistance or consideration by the city. These items are as follows: