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CASE <br /> <br />TITLE:' <br /> <br />CONSIDEg RE'QUEST FOR' ALLOCATION OF R~MSE¥ DEDICATED:: <br />ANOKA COUNTY HOUSING AND REDEVELOPMENT AUTHORITY <br />(ACHRA)LEVY. REVENUE IrOR. R.6~SEY TOWN CENTER <br />APARTMENT PROJECT <br /> <br />BY: <br /> <br />HRA Executive Director, Sylvia Frolik <br /> <br />INTRODUCTION: <br />The City has received an application for site plan approval from Anoka County Community <br />Action Program and J.Johnson, Inc., for a mixed-use, mixed-income building in the Ramsey <br />Town Center. The proposed site is north of and adjacent to the municipal parking ramp, just <br />west of the new Ramsey Municipal Center. <br /> <br />DISCUSSION POINTS: <br />The development is proposed to consist of a 5 story building with retail on the first floor and <br />apartments on the second through fifth floors. There will be a total of 40 - 1, 2, and 3 bedroom <br />apartments; 20 affordable and 20 market rate. <br />The applicants have assembled cost estimates and likely sources of funds. Minnesota Housing <br />Finance Agency (MI-IFA) will be the primary source of public participation. The applicants are <br />requesting that the City submit a request to the Anoka County lIRA to allocate $400,000.00 in <br />City dedicated County levy funds towards the project. These funds represent Ramsey's share of <br />County funds generated by our participation in the County HRA levy. These funds are separate <br />from funds being generated by our local. I-IRA levy. <br /> <br /> ATTACHMENTS: <br /> <br />Site location map <br />Building Elevation <br />Proposed resolution <br /> <br />STAFF RECOMMENDATION: <br />That the HRA recommend that City Council adopt the proposed resolution requesting the <br />allocation of County I-iRA funds towards the Town Center apartment project. <br /> <br />COMMISSION ACTION: <br />Motion by Commissioner and seconded by Commissioner to recommend <br />that City Council adopt the proposed resolution requesting allocation of Ramsey dedicated <br />County HRA funds towards the Town Center Apartment Project in the amount of $400,000.00. <br /> <br />REVIEWED BY: <br />City Administrator <br /> <br />HRA: 05/09/06 <br /> <br />-265- <br /> <br /> <br />