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Mr. Pankratz said the affordable housing conception needs to be defined and that there are many <br /> projects for median income at $50,000-$60,000 which is good as you cannot just do Class A <br /> apartments like in downtown Minneapolis. He said millennials are taking longer to get married <br /> but are now starting to have children and will no longer want to be downtown and will start to <br /> move. <br /> Community Development Director Gladhill shared affordability housing data, stating apartments <br /> do not mean low income and asked: What strategy Oakdale used to create affordable prices? <br /> Mr. Waldron said it was not easy and stressed the importance of a unified City Council as well as <br /> timing and public education. He said business community support is needed and said they <br /> pushed developers to hold work sessions in the community to start talking the projects up to get <br /> buy-in and show data on how property taxes will not drop because of apartment projects. <br /> Community Development Director Gladhill asked: If Ramsey's requirements are too restrictive <br /> for the market to bear and how we can get high quality architecture? <br /> Ms. Kvilvang said she believes Ramsey is not being overly onerous to require brick, glass and <br /> metal but said the projects would not have happened but/for having assistance so providing <br /> incentives is important to get what you want. <br /> 3.04: Parking Districts—what value can shared parking districts add to a development? <br /> Community Development Director Gladhill stated the next question relates to: Structured <br /> parking ramps as the next important talking point and possible financial assistance? <br /> James Lasher, LSA Design/SRF Consulting, shared how parking ramps are typically empty in <br /> the evening because most chose to park on grade because it is quicker and easier. He said ramps <br /> have a purpose and shared rising costs from $11,000/stall in 2004 to $16,000-$24,000/now. Mr. <br /> Lasher said while ramps are eight times more expensive it would take six acres of asphalt to <br /> replace a typical parking ramp and ramps achieve a higher level of tax and structure while <br /> preserving land for more buildings. He said parking districts are now being created to share <br /> parking and be able to use a stall longer than eight hours per day, such as through partnerships <br /> with a movie theater. He said parking structures are very expensive and have an ongoing cost <br /> but add value because they build more density and tax base. <br /> Ms. Kvilvang said The COR parking would have been better underground and would have used <br /> land more effectivity but with the high-water table in Ramsey the parking structure made sense. <br /> Metro Transit representative Lucy Galbraith said Metro Transit has begun an effort with real <br /> estate assets and policy makers on this topic and agreed it may be a logical next step for review. <br /> Ms. Galbraith said their website has a video about this exercise which she encouraged people to <br /> view. <br /> Community Development Director Gladhill shared a question from the audience about the <br /> impact the district has on future development. <br /> The COR Market Panel Moderated Session / October 27, 2016 <br /> Page 5 of 9 <br />