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large berm and limited side yard. He explained they propose 3 -story units to reduce the <br />footprint and would stand ready to add articulation to the extent they can do so within the <br />confines of the City's ordinance. <br />Councilmember Elvig asked about the building materials. <br />Mr. Podawiltz stated they would have maintenance -free exteriors and energy efficient products <br />to reduce costs and maintenance. Exterior building materials include metal, steel, stucco board, <br />and balconies on both sides to bring light into the living space. <br />Councilmember Elvig asked about financing and indicated the City typically sees a performa <br />when asked for a subsidy. He stated he prefers the project involve an institution for overall tax <br />credits instead of selling it off to an individual and he likes it being paid down below market rate <br />to create affordability. <br />Mr. Podawiltz explained the investors would be limited partners so all they could lose is the <br />investment they put in. He indicated Podawiltz Development Corporation would operate the <br />project, maintain it, and keep it fully occupied. Mr. Podawiltz described their tenant selection <br />criteria. He noted that without the City's $215,000 contribution, rents would be above the 30% <br />and 50% threshold so one of the things the City's contribution does is write down rents and <br />shows Minnesota Housing Finance that the City is interested in the project. The City's <br />contribution also allows Minnesota Housing Finance to use money for other projects. <br />Mayor Ramsey asked if there are any objections to this project. <br />Councilmember Tossey stated he has no problem with vacating the street or HRA parcel but did <br />not support an HRA contribution. <br />Councilmember Wise asked about SAC and WAC fees. <br />Senior Planner Gladhill stated staff could look at other permit fee waivers but the City has not <br />considered waiving SAC and WAC fees in the past. <br />Councilmember Wise agreed this is a troubled site and he thinks this proposal is a good fit. He <br />asked if this project would cause any possible impediment to surrounding developments. <br />Senior Planner Gladhill stated staff does not think it would impede another project but will study <br />that issue during site plan review. <br />Mr. Podawiltz advised that this property and the site across the street are under the same <br />ownership and that person thinks it is a benefit, not a deficit. <br />Councilmember McGlone stated the proposed workforce housing project will finish a road at its <br />expense, which benefits everything over there. He noted the project includes substantial park <br />structure on private property and raised the option of the developer contributing that park <br />structure to the City's North Commons Park to create better utilization. <br />City Council Work Session / March 13, 2012 <br />Page 4 of 6 <br />