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CC Regular Session <br />Meeting Date: 06/24/2014 <br />By: Ted LaFrance, Administrative Services <br />Information <br />7. 7. <br />Title <br />Adopt Resolution #14-06-121 Identifying The Need For Livable Communities Transit Oriented Development <br />Funding and Authorizing An Application For Grant Funds <br />Purpose/Background: <br />The purpose of Resolution #14-06-121 is to authorize submitting an application for grant funds from the <br />Metropolitan Council's Livable Communities program for use in assisting CommonBond in the development of a <br />47 unit affordable transit oriented apartment complex. This resolution is required by the Met. Council in order to <br />submit a full application, due June 30th of 2014. <br />Staff has been working in conjunction with CommonBond in building a full application for submittal. The <br />pre -application was well received at the Met. Council's pre -application workshop. <br />Observations/Alternatives: <br />Alternative #1: Move to pass Resolution #14-06-121 authorizing submittal of an application for Met. Council funds <br />to assist the CommonBond project. <br />Alternative #2: Deny support of Resolution #14-06-121. Possible negative implications may include inability of <br />CommonBond to financially package a project in Ramsey. <br />Funding Source: <br />NA <br />Recommendation: <br />Staff recommends approving Resolution #14-06-121 <br />Action: <br />Move to pass Resolution #14-06-121 authorizing submittal of an application for Met. Council funds to assist the <br />CommonBond project. <br />Resolution #14-06-121 <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 06/19/2014 11:58 AM <br />Form Started By: Ted LaFrance Started On: 06/18/2014 04:11 PM <br />Final Approval Date: 08/22/2014 <br />