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Chairperson Wiyninger asked for more information on the financials, as this seems like a big <br />stretch. <br />Ms. McDermott stated that the last two projects have been amazing, partnering with several trade <br />partners, and that is what they would plan to do for this project, noting Lennar as one of the <br />partners. She stated that they fundraise to get to a certain number, and the trade partners donate <br />products and labor. She provided information on the estimated value of the last project and the <br />actual cash funds that were contributed. <br />Chairperson Wiyninger stated that it looks like this project woul <br />$3,000,000 that would require about $1,000,000 of fundraising, <br />He asked about the feasibility of raising $1,000,000. <br />Ms. McDermott stated that the LAHA funds would be pa <br />begun to work with community partners, noting that i <br />were able to raise $25,000. She felt confident th <br />funding would be successful. She commented o <br />before the end of the year. <br />e we- <br />eir trad <br />raisin <br />estimated value of <br />sked for more information. <br />She c <br />kend with <br />artners, grant <br />nted that they have <br />to Church, they <br />and iriependent <br />ey would do to reach that goal <br />Nate Ruppert, Lennar, introduced himself and stated that he 's also a Board member for Elevate <br />Hope House and has been directly involved in the last two builds, T-je stated that it has been <br />awesome to see the excitement and involvement of trade pa rs and spoke about the <br />commitments they received for products an labor in r - last t projects. He estimated that <br />$200,000 to $250,000 in donations were recei ed for the p . rrently being built, and believed <br />that those types of donations wod carry over _ •wards thi• .roject. He stated that the Lennar <br />Foundation has also c mitted to c ntinuing a r nership with Elevate Hope House, noting that <br />the donation for th pr ject was200,000. H to -d that there is a commitment towards this <br />project, but he cannot di the amount being di • . ssed at this time. <br />Member Hills asked if there is <br />donatioannually. <br />Mr. `Ruppestated that for <br />those funds are spread across <br />has been allocated each year. <br />uch the Lennar Foundation provides in charitable <br />homennar builds, $1,000 is contributed to the foundation, and <br />h division. He stated that in recent years, locally, about $500,000 <br />Member Stewart un that Lennar has residential experience and asked about the company's <br />experience in commer builds. <br />Mr. Ruppert stated that locally, the division mostly builds residential units and commented on the <br />similarities between this type of build and townhomes. He stated that they also have a <br />commercial/mixed-use division, and they have constructed apartment buildings in the metro area. <br />He stated that they have also built amenity centers, which are a similar product. <br />John Heinrich, Anoka County Commissioner, introduced himself and provided his perspective as <br />a County Commissioner. He stated that the County has provided LAHA funding to Elevate Hope <br />Economic Development Authority/ June 11, 2026 <br />Page 2 of 7 <br />