Laserfiche WebLink
Econ. Dev. Mgr/Assistant City Administrator Brama stated the meeting is to consider a request <br />from PSD LLC for $500,000 of City assistance to their proposed 122 unit apartment complex in <br />The COR. <br />Member Hardin asked what has caused the scoring to be lower than expected. Econ. Dev. <br />Mgr/Assistant City Administrator Brama stated within the housing assistance application there <br />are a number of scoring matrixes, a number of goal initiatives and individual scoring items. In <br />some particular instances PSD rated themselves as being compliant with certain specific items <br />and staff felt they were not one hundred percent in compliance or were partially compliant. <br />Development Services Manager Gladhill reviewed some of the items in regards to scoring of the <br />project. Econ. Dev. Mgr/Assistant City Administrator Brama noted some items were counted <br />twice and should not have been. Development Services Manager Gladhill stated they could <br />award partial points for some of the items but not full points. He stated other energy efficient <br />and stormwater regulations were being counted although they were not necessarily providing <br />them. He noted they did add some points that were not in there also. This project falls within <br />the eighty percent area median income and is considered affordable by definition so extra points <br />were awarded for that which were not included in PSD's original scoring matrix. <br />Chairperson Steffen stated they had 68 points out of a possible 152 points. He thought that <br />looked like a failing grade and wondered if this was good or bad. Development Services <br />Manager Gladhill stated there is no minimum points. He stated there is not any one project that <br />will be at one hundred percent of the points. He stated there will be times that if you meet a <br />certain percentage of quality they are looking for there is a sliding scale. He stated there is no <br />pass/fail and it is impossible for anyone project to get one hundred percent of the points. <br />Chairperson Steffen stated they did not get half the points so what should the EDA glean from <br />the 68 points. Development Services Manager Gladhill stated he would ask the EDA to look at <br />the specifics on what they are providing. He noted the location scores high for them because of <br />its proximity to transit and industrial parks. <br />Manager Hardin asked if they keep some type of spreadsheet on how the different developments <br />scored so the EDA can compare how the project stacks up to others. Development Services <br />Manager Gladhill stated this is a new policy and adopted in 2014 and they do not have the <br />history of applying that here but they could start a spreadsheet for future projects. He stated this <br />is showing on the side of affordable and there are some points there. He reviewed a few other <br />projects done in the City with the EDA and noted what areas scored higher than PSD. <br />Econ. Dev. Mgr/Assistant City Administrator Brama stated reading through the application the <br />only minimum thresholds or any qualifier that he has pulled out is that all applicants must be in <br />one of the following thresholds that are outlined in the document and there are a handful of goals <br />and based off of that one indicator, this project does meet one goal and partially meets two other <br />goals. Development Services Manager Gladhill stated on page 4 of the policy draft one of the <br />goals is to provide a variety of housing options for people of all life stages and income levels so <br />in looking back this does meet that goal. <br />DRA F Economic Development Authority/September 17, 2015 <br />Page 2 of 5 <br />