4.11.
CC Regular Session
- Meeting Date:
- 06/14/2016
- By:
- Tim Gladhill, Community Development
Information
Title
Adopt Resolution #16-06-117 Confirming Aeon Housing Project is in Alignment with The COR Development Plan
Purpose/Background:
The purpose of this case is to adopt a resolution that confirms that the proposed Aeon housing project is in alignment with The COR Development Plan for purposes of Aeon's funding application to the Minnesota Housing Finance Agency (MHFA).
Aeon is proposing a project consisting of 40-60 units of high-density residential in a three (3) story building. The Project Site is located on Outlot A, Ramsey Town Center 7th Addition. This parcel is currently owned by the City of Ramsey. The City Council approved a Purchase Agreement to sell a portion of this parcel to Aeon on May 10, 2016.
Aeon is proposing a project consisting of 40-60 units of high-density residential in a three (3) story building. The Project Site is located on Outlot A, Ramsey Town Center 7th Addition. This parcel is currently owned by the City of Ramsey. The City Council approved a Purchase Agreement to sell a portion of this parcel to Aeon on May 10, 2016.
Notification:
Notification is not required.
Observations/Alternatives:
The Planning Commission reviewed the concept plan on May 5 and was generally supportive of the request. Minutes from said meeting are attached for review. The general concept is in alignment with The COR Development Plan. That being said, there are a number of review steps remaining in the process. This resolution is not official regulatory approval nor a signal that the project is in full compliance with Zoning Code.
Please note that an additional, similar resolution is expected to be considered at the June 24, 2016 City Council related to a separate funding request to the Metropolitan Council from Aeon. Staff desires to review the draft Application Submittal before preparing this resolution.
Alternatives
Alternative #1 - Adopt Resolution. The concept is generally in alignment with the Development Plan. This resolution will support Aeon's funding request to MHFA. MHFA is the primary funding source for the project, so it is unlikely the project will move forward without this funding. This action does not obligate the City to any financial commitments.
Alternative #2 - Do not adopt resolution. As stated before, the project is unlikely to move forward without this funding package.
Please note that an additional, similar resolution is expected to be considered at the June 24, 2016 City Council related to a separate funding request to the Metropolitan Council from Aeon. Staff desires to review the draft Application Submittal before preparing this resolution.
Alternatives
Alternative #1 - Adopt Resolution. The concept is generally in alignment with the Development Plan. This resolution will support Aeon's funding request to MHFA. MHFA is the primary funding source for the project, so it is unlikely the project will move forward without this funding. This action does not obligate the City to any financial commitments.
Alternative #2 - Do not adopt resolution. As stated before, the project is unlikely to move forward without this funding package.
Funding Source:
No City Funds are involved with this request. This case is being prepared as part of normal staff duties.
Recommendation:
Staff recommends that the City Council adopt Resolution #16-06-117.
Action:
Motion to adopt Resolution #16-06-117.
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Kurt Ulrich | Kurt Ulrich | 06/09/2016 03:54 PM |
- Form Started By:
- Tim Gladhill
- Started On:
- 06/09/2016 10:24 AM
- Final Approval Date:
- 06/09/2016