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Grant # <br />Type: <br />Applicant <br />Project Name <br />Project Location <br />Council District <br />Project Summary <br />SG2014-088 <br />LCDA-TOD Development <br />City of Ramsey <br />Sunwood Village <br />Northstar Commuter Rail — Ramsey Station; Outlot A COR One <br />9 — Edward Reynoso <br />Project Detail <br />Project Overview <br />Sunwood Village will be a new construction 47 unit housing community built on <br />1.85 acres of land in the heart of downtown Ramsey. All of the units will be <br />available to those at 60% of the area median income, with four of the units will be <br />set aside for long term homeless (LTH) households. CommonBond's Advantage <br />Services program will be available to all residents, with special programming <br />being made available for those in the LTH units. Sunwood Village will be three <br />stories and will feature several common building amenities for residents, <br />including a community room. This development will promote walking and biking <br />to amenities, use of non -motorized transportation and sustainable construction. <br />Jobs (FTEs) <br />Regular: 1.5 (0 living wage); Temporary: 30 (30 living wage) <br />Net tax capacity increase <br />$35,550 <br />Total housing units <br />47 <br />Affordable units (60% AMI) <br />47 (100%): 4 @ 30% AMI, long-term homeless; 43 @ 60% AMI <br />Anticipated # bedrooms <br />9 one bedroom; 25 two bedroom; 13 three bedroom <br />Est. total development <br />cost <br />$8,131,667 <br />Est. private funds <br />leveraged <br />$7,121,667 <br />Est. other public funds <br />$1,430,000 <br />TOD metrics <br />Floor -area ratio: .76; dwelling units per acre: 25; distance to station: 484'; <br />residential parking ratio: 1.2; station area average block size: 3; jobs/acre: 1 <br />Comments/ <br />Demonstration value <br />• Innovative concept for locating affordable housing, including housing for the <br />long-term homeless, into a commuter rail station area. Well integrated with <br />adjacent market -rate multi -family housing project, serving as a model for <br />mixed -income housing. <br />• Medium density project is a good model for developing communities. <br />• The COR, a master planned, walkable district provides residents with access <br />to the commuter rail platform, a grocery store, retail, civic institutions, and <br />other important amenities without the use of a car. <br />Funding <br />Requested amount <br />$580,000 <br />Previous LCA funding <br />None. <br />Use of funds <br />Amount <br />Uses to be completed by 12/31/2017 <br />$435,000 <br />Site Acquisition after date of award <br />$75,000 <br />Stormwater improvements: stormwater cistern <br />$20,000 <br />Bike racks, storage, fix -it stations: covered bike shelters <br />$20,000 <br />Sidewalks and trails: sidewalks along Veterans Drive <br />$10,000 <br />Furnishings and equipment for public areas: benches, planters <br />$10,000 <br />Lighting: public lighting along sidewalks <br />$5,000 <br />Landscaping (stormwater or placemaking): tree trenches, native plants, <br />raingarden <br />$5,000 <br />Architectural/engineering: engineering of stormwater cistern <br />$580,000 <br />TOTAL <br />