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• CITY COUNCIL WORK SESSION <br />CITY OF RAMSEY <br />ANOKA COUNTY <br />STATE OF MINNESOTA <br />• <br />• <br />The Ramsey City Council conducted a City Council Work Session on Monday, December 4, <br />2006, at the Ramsey Municipal Center, 7550 Sunwood Drive NW, Ramsey, Minnesota. <br />Members Present: Mayor Thomas Gamec <br />Councilmember David Elvig <br />Councilmember David. Jeffrey <br />Councilmember Mary Jo Olson <br />Councilmember Al Pearson <br />Members Absent: Councilmember Todd Cook <br />Councilmember Sarah Strommen <br />Also Present: City Administrator James E. Norman <br />Assistant City Administrator Heidi Nelson <br />Community Development Director Patrick Trudgeon <br />Associate Planner Amy Geisler <br />Councilmember -Elect Matt Look <br />Councilmember -Elect John Dehen <br />CALL TO ORDER <br />Mayor Gamec called the City Council Work Session to order at 8:07 p.m. <br />APPROVE AGENDA <br />The agenda was approved as submitted. <br />COUNCIL TOPICS FOR DISCUSSION <br />1) ACCAP RTC Apartment Project <br />City Administrator Norman explained that on Tuesday, November 28, 2006, City staff met with <br />Jeff Johnson, representing ACCAP- Ramsey Town Center Apartments Limited Partnership <br />regarding the mixed -use apartment and retail project. This project has been proposed as first <br />floor retail and four floors containing 40 apartments; 20 affordable and 20 market rate. A major <br />part of the financing for the project included MHFA tax credits. Staff has been informed that <br />there are a couple of issues related to the project that are presenting obstacles to the MHFA <br />approval. The first issue is that there is public money available for affordable mixed - income <br />projects. However, the market rate units would have to be leased at an amount that would not <br />require subsidy from the affordable housing financing sources. MHFA is concerned, about the <br />marketability of the "market rate" units at rents of $1200 41600 per unit. There would be more <br />City Council Work Session / December 4, 2006 <br />Page 1 of 9 <br />—71— <br />