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HomeMy WebLinkAboutHousing & Redevelopment Authority Packet 04-22-2010file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] Page 20 Cn QO f tc o 5, ccs w ccs ca o c • o w lj Z3 CD CD (. Q a a o o Q c o Q c o i CD CD CD CDc U c o c GO c' t~ c- c a c cr w R y ti ti zm. sl- Cj file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] o Y r) o' o • cT r rt N N 0 // goo i C 1 C) tW r 0 rz- ED t5- a t- CD p CD C) o o N o o Q o o Q a C' o d o a Q o 9o o o `C o file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] d o a ZS E3 S ti fi h Page 20 IV_ T m.-lzsln"g Crossing To: Plymouth Housing and Redevelopment Authority From: Sara Paquette Managing Director Date: March 9, 2010 Subject: Vicksburg Crossing Market Report February Inquiry/marketing activity recap is as follows 3,.A" Phone/Internet Inquiries • 12 phone calls from different people inquiring about apartments for themselves or family members. 0 4 people made appointments to come in and see apartments. o 8 people did not make appointments to see the apartments. Most wanted to see an affordable apartment, the rates were too high or they were just interested in having information sent. We will follow up with these people. 0 We received 0 emails from someone who found us on our web site. 0 We received 0 e-mails from the Seniors for Living web site. Walk-in Traffic • 3 people came in as walk-in traffic in February. Interest Timeline for Move In • Of the total 7 people that came into the office (either set up appointments or came in as walk-in traffic): 0 1 selected an apartment and put down a $500 deposit. 0 2 were looking for a new home within the next 6 months. 0 2 were looking for a new home within 6 -12 months. 0 2 were looking for a new home beyond 12 months from now. 3155vicks6urg Lane N • Plymouth, \f\ 55417 • Phone (763)559-1577 • Fax (763)559-0144 @ uvvw.ci.p1ymouth.mn.us 0u-necl 6y Plymouth I -Dousing and Reclevelopment Autborit.% 112111 EQUAL HOUSING PageP4RTUNITY Interest Level by Apartment Style Of the total of 15 contacts (the sum of phone calls, emails and walk in traffic). 0 10 people were interested in information on low income / were under the impression we had subsidized housing 0 1 person was most interested in moderately priced 1 bedrooms 0 0 were most interested in a 1 bedroom with den o 3 people were most interested in 2 bedrooms o The remaining wanted pricing on several sizes. They were more interested in price. Ongoing Marketing Strategies — Up date FebruarY 2090 Marketing Medium Frequency/Size Cost Results Recommendation file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] Sun Newspaper Typically 1 x $ 475 Good Continue, alternate mo. w/ Lakeshore '/ 4 page Weekly Will advertise for upcoming Open House Lakeshore Weekly Typically 1 x 450 Good Continue, alternate News mo.; wl Sun Sailor — 1/4 page Will advertise for upcoming Open House Senior Housing Annual; 500 None directly Will not advertise, Guide 1/3 page tied to this but continue to ad. have info in guide Plymouth News Depends n/a Generates Continue as inquiries ermitted Brochures placed in Ongoing Nothing Unknown as Continue as Senior Centers of but the to direct permitted Crystal, Hopkins, cost of results, but Robbinsdale, and the keeps our file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] Maple Grove also brochure info in PCC & City Hall. circulation. Resident Referral Ongoing $ 300 per No resident referral referrals paid move in. in past nine months Resource Referral Ongoing 100 for None paid No new referrals Networking with referral other Apartment Mgr, etc. VC Website Ongoing 50 mo Typically Tracking inquiries._ Page 2 Additional Marketing Efforts Our walk-in traffic is slowly improving with the warmer weather. We continue to have good response to our advertising in the Lakeshore and Sun Sailor. We plan to have an Open House on May 51". We will celebrate Cinco de Mayo with music, Mexican food from one of the local restaurants, and prizes. We will be advertising for the Open House and inviting prospects. In April we will have a booth at the Plymouth Home and Garden show. We have joined a business group that consists of people from The Shoppes at Plymouth Creek. The group is interested in ways that we can, not only promote each other's businesses, but also brainstorm ways that we can bring people into the area. We just started, but we are discussing the possibility of a block party, and we would plan on having an Open House at. Vicksburg Crossing during the block party. We are also considering different ways we could collaborate on advertising. We plan on having speakers attend our meetings and our first speaker will be the Regional Marketing person for M&I Bank. Page 3 receive several inquiries a month Move in Incentive Ongoing 7 people to Continue offering date used incentive, but will move in not advertise file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] incentive specifics. Open House Twice a year. Approx. Was very We are planning to Try to coincide $ 250 successful. have our next with a resident Gave a lot of Open House in party. tours. May. Prospects impressed wl building & apartments. Invite Prospects and Quarterly events Depends We are Continue as depositors to events are planned planning our events are planned events for the upcoming year. Additional Marketing Efforts Our walk-in traffic is slowly improving with the warmer weather. We continue to have good response to our advertising in the Lakeshore and Sun Sailor. We plan to have an Open House on May 51". We will celebrate Cinco de Mayo with music, Mexican food from one of the local restaurants, and prizes. We will be advertising for the Open House and inviting prospects. In April we will have a booth at the Plymouth Home and Garden show. We have joined a business group that consists of people from The Shoppes at Plymouth Creek. The group is interested in ways that we can, not only promote each other's businesses, but also brainstorm ways that we can bring people into the area. We just started, but we are discussing the possibility of a block party, and we would plan on having an Open House at. Vicksburg Crossing during the block party. We are also considering different ways we could collaborate on advertising. We plan on having speakers attend our meetings and our first speaker will be the Regional Marketing person for M&I Bank. Page 3 TV_ T Vicksburg Crossing To: Plymouth Housing and Redevelopment Authority From: Sara Paquette Managing Director Date: April 13, 2010 Subject: Vicksburg Crossing Market Report March Inquiry/marketing activity recap is as follows Phone/Internet Inquiries file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] 17 phone calls from different people inquiring about apartments for themselves or family members. 0 11 people made appointments to come in and see apartments. 0 6 people did not make appointments to see the apartments. Most wanted to see an affordable apartment, the rates were too high or they were just interested in having information sent. We will follow up with these people. o We received 0 emails from someone who found us on our web site. o We received 16 e-mails from the Seniors for Living web site. Walk-in Traffic • 4 people came in as walk-in traffic in March. Interest Timeline for Move In • 4f the total 15 people that came into the office (either set up appointments or came in as walk-in traffic): o 3 selected an apartment and put down a $500 deposit. 0 3 were looking for a new home within the next 6 months. o 4 were looking for a new home within 6 -12 months. 0 5 were looking for a new home beyond 12 months from now. 315 ic Zsi ur_ Lane •Plymouth, I\ 56 117 • Phone (763),559-1811 • Fax (7b3)_ -5U9-01- 4 • Rrn- w.ci_p(ymouLh.Mn. Lis Oumed by Plymouth Housing and Redew)opment Authorih 12r EQUAL HUUSIN6 Pag&4TUNITY Interest Level by Apartment Std Of the total of 36 contacts (the sum of phone calls, emails and walk in traffic). 0 8 people were interested in information on low income 1 were under the impression we had subsidized housing 0 12 people were most interested in moderately priced 1 bedrooms 0 2 were most interested in a 1 bedroom with den 0 10 people were most interested in 2 bedrooms 0 The remaining wanted pricing on several sizes. They were more interested in price. Ongoing Marketing Strategies Update February 2010 Marketing Medium Frequent (Size Cost Results Recommendation Sun Newspaper Typically 1 x $ 475 Good Continue, alternate mo. wl Lakeshore d page Weekly Will advertise for upcoming Open House Lakeshore Weekly Typically 1 x $ 450 Good Continue, alternate News mo.; wl Sun Sailor— file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] 4 page Will advertise for upcoming Open House Senior Housing Annual, 500 None directly Will not advertise, Guide 113 page tied to this but continue to ad. have info in guide Plymouth News Depends nla Generates Continue as inquiries permitted Brochures placed in Ongoing Nothing Unknown as Continue as Senior Centers of but the to direct permitted Crystal, Hopkins, cost of results, but Robbinsdale, and the keeps our Maple Grove also brochure info in PGG & City Hall. circulation. Resident Referral Ongoing 300 per No resident referral referrals paid move in. in past nine months Resource Referral Ongoing 100 for None paid No new referrals Networking with file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] referral other Apartment Mgr, etc. VC Website Ongoing 50 mo Typically Tracking inquiries. 2 Page 5 Additional Marketing Efforts Our walk-in traffic has increased substantially this month. We continue to have good response to our advertising in the Lakeshore and Sun Sailor. We plan to have an Open House on May 5th. We will celebrate Cinco de Mayo with music, Mexican food from one of the local restaurants, and prizes. We will be advertising for the Open House and inviting prospects. We are currently creating postcards to send to prospects inviting them to the Open House. We have joined a business group that consists of people from The Shoppes at Plymouth Creek. The group is interested in ways that we can, not only promote each other's businesses, but also brainstorm ways that we can bring people into the area. We just started, but we are discussing the possibility of a block party, and we would plan on having an Open House at Vicksburg Crossing during the block party. We are also considering different ways we could collaborate on advertising. We plan on having speakers attend our meetings and our first speaker will be the Regional Marketing person for M&I Bank. 3 Page 6 receive several inquiries a month Move in Incentive Ongoing 7 people to Continue offering date used incentive, but will move in not advertise incentive specifics. Open House Twice a year. Approx. Was very We are planning to Try to coincide $ 250 successful. have our next with a resident Gave a lot of Open House in party. tours. May. Prospects file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] impressed wl building & apartments. Invite Prospects and Quarterly events Depends We are Continue as depositors to events are planned planning our events are planned events for the upcoming year. Additional Marketing Efforts Our walk-in traffic has increased substantially this month. We continue to have good response to our advertising in the Lakeshore and Sun Sailor. We plan to have an Open House on May 5th. We will celebrate Cinco de Mayo with music, Mexican food from one of the local restaurants, and prizes. We will be advertising for the Open House and inviting prospects. We are currently creating postcards to send to prospects inviting them to the Open House. We have joined a business group that consists of people from The Shoppes at Plymouth Creek. The group is interested in ways that we can, not only promote each other's businesses, but also brainstorm ways that we can bring people into the area. We just started, but we are discussing the possibility of a block party, and we would plan on having an Open House at Vicksburg Crossing during the block party. We are also considering different ways we could collaborate on advertising. We plan on having speakers attend our meetings and our first speaker will be the Regional Marketing person for M&I Bank. 3 Page 6 Page 7 New Development Proposal: West View Estates Plyinoiith, Minnesota Prepared for: City, of Plymouth City Council Prepared by: Sand Companies, Inc. 366 South Tenth Avenue PO Box 727 Waite Park, Minnesota 56387-0727 Telephone (320) 202-3100 Facsimile (320) 202-3139 www.SandCom]2anies.com * ASCI Sand Companies, Inc ' y . rw II . D.* .. ( 320) 202-3100 Waite ,Park, Alinnesota ww I9andCampanIessam 3. C, Page 1 West Yietiv Estates s- i Multifamily Living; Community file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] Executive Suininary The proposal herein is to request concept approval and a letter of support for local participation from the City of Plymouth for a 67 unit work -force housing development in Plymouth. The concept and location of the apartment community is a perfect fit for the Smart Growth principals including, creating a range of housing opportunities and choices, encourages community and stakeholder collaboration, takes advantage of compact building design and is near many services and jobs. With support from the City of Plymouth, the development will be a secure, well-maintained and managed community that offers Iife cycle housing opportunities for the residents of Plymouth. Project Developer/0 %veer Plymouth Housing Group, LLC will be the developer/owner of West View Estates. The developer/owner has developed several rental properties in the metro area. Current projects include Southview Estates in Bloomington and Hoffman Place in White Bear Lake. Arden Village is a project under development in Arden Hills. Minnesota Place & Minnesota Vista is under construction in downtown St. Paul. The developer/owner has also purchased/rehabilitated 13 additional properties in the metro area. Arehiteet/Conte :f etor/Manager Sand Companies, Inc. (SCI) has earned its reputation for professionalism, thoroughness and proven results in the construction, property management and architectural industries. SCI's reputation and accomplishments can be attributed to the many successful partnerships formed over the years. Not only does SCI facilitate all aspects of the real estate development, it becomes a part of it by establishing successful working relationships and communicating effectively with all parties involved. Since inception in 1991, Sand Companies, Inc. has successfully completed the construction and/or development of 54 multifamily housing developments (2,593 units), 12 hotels (935 guest rooms), 15 commercial projects, 6 residential subdivisions (239 lots) and various other projects. SCI also manages 21 residential housing developments (670 units), 18 hotels (1,480 guest rooms) and 2 restaurant/conference facilities. See the enclosed Company Profile for more detailed information. West View EStttteti 1'rotwsed Heti elopenent 2 Page 2 Development Location & Site The Plymouth site is located along the Northwest intersection of Vicksburg Lane North and County Road 47. The site is approximately 3.56 acres and will be accessed from Vicksburg Lane North. An existing house is on-site and will be removed during construction. Aerial_Pliotograplt of Development Location West View Estates will be fully landscaped with trees, shrubs, sod and include a lawn irrigation system. An area storm water pond will be constructed on site and will be sized to directly accommodate the water run-off. West View Estates will include a private tot lot for younger children along with a recreation area with benches and outdoor grills. Bnilding Description The West View Estates development will consist of an apartment style building that will be four stories in height with underground parking. Building construction will incorporate wood frame construction with the below grade parking areas consisting of poured concrete or block walls with structural concrete pre -cast decking and columns. The exterior of the buildings will be textured stone and steel or cement board siding. Below are photos of a similar project recently completed in Maple Grove called Maple Village with similar exterior finishes. Nest View Estates Proposed Development 3 Page 3 Pro -posed Buildinx Designs Common Amenities: Underground, Heated Parking file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] Resident Storage Leasing/Manager's Office Secured Entries/Camera System Reception Area Elevator Trash Chutes Unit Amenities: Dishwasher Refrigerator Range w/Self Cleaning Oven Walk-in Closets Over the Range Microwave Washer & Dryer Mini Blinds Nest View Estates Proposed Development 4 Page 4 n . a, rF LLJJ 19FR_ p 1 9 •, ` tri' Common Amenities: Underground, Heated Parking Resident Storage Leasing/Manager's Office Secured Entries/Camera System Reception Area Elevator Trash Chutes Unit Amenities: Dishwasher Refrigerator Range w/Self Cleaning Oven Walk-in Closets Over the Range Microwave Washer & Dryer Mini Blinds Nest View Estates Proposed Development 4 Page 4 Sustainable Constrnetion West View Estates will follow the Minnesota Overlay to the Green Communities Criteria that establishes standards in green building design and construction. Minnesota Green Communities is a collaboration of the Greater Minnesota Housing Fund, the Family Housing Fund and Enterprise designed to foster the creation of healthier and more energy efficient housing throughout Minnesota. The initiative supports the production of housing with markedly reduced energy costs, use of materials beneficial to the environment, conservation mined land use planning and attention to the creation of healthy environments and lifestyles for individuals, children, families and communities. These standards emphasize an integrated design process that involves the developer, file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] architect, engineers, contractor, building management team and LEED Accredited Professional from the very beginning of the design process. The design of West View Estates will involve all parties of the project including Sand Companies, Inc.'s on -staff LEED Accredited Professional. The project standards will focus on location and neighborhood fabric, site improvements, water conservation, energy efficiency, beneficial materials selections, a healthy living environment and operation and management practice. Examples for West View Estates will include efficient land use, use of Energy Star appliances, water conserving plumbing fixtures, high efficiency heating systems, extensive use of florescent lighting, and carpets manufactured from recycled soda bottles. Green or sustainable building strategies are intended to increase resource efficiency and reduce environmental impacts, but they can also yield cost savings through Iong-term reductions in operating expenses. Increased energy performance, comfort of occupants and a healthier indoor environment are the major benefits, but increased durability of building components and simplified maintenance requirements can lead to financial efficiencies for the development. Sand Companies, Inc. believes in "hudding green nvith common sense ", rather than scoring points on abstract scales. Property Mi aiiagement Good property management is the key to a successful rental community. Sand Companies, Inc., who currently manages 670 rental units and eighteen select service hotels, will manage the day-to-day and ongoing operations of West View Estates. Sand Companies, Inc. started in the business of residential property management in 1998 when it became challenged with poor third party management and maintenance of its properties. High quality management practices are the goal and the standard of Sand Companies, Inc. With hands-on management, potential property and resident problems are headed off and the continual practice of preventive maintenance preserves the long-term quality of the developments. A visit to any of the sites managed by Sand Companies, Inc. will show how important attention to detail is to the company. Sand Companies, Inc. will be responsible for hiring and training the manager, marketing the property, setting up strict resident selection criteria, along with daily +' I Nest View Estates Proposed Development } Page 5 communications, regular site visits, accounting, human resources, renovations and purchasing on behalf of the property. As a manager Sand Companies, Inc. has a very strict and stringent resident screening process and is an active member of the Crime Free Multi -Housing Program wherever available. All potential residents sign off on receiving the specific screening criteria before filling out an application. Sand Companies, Inc. not only does local checks on applicants, but also out of state checks, as applicable. The following is a brief summary of Sand Companies, Inc.'s minimum screening criteria. Sand Companies, Inc. reserves the right to be more stringent. 1. Age: All applicants must be at least 18 years of age. Any residents 18 years of age or older must be listed on the lease and also meet the screening criteria. 2. Income: For income restricted units, total gross household income must be at least two times the amount of rent, including utilities. 3. Credit: Applicants with a consistent history of NSF checks will be denied.. Applicants with outstanding collections or Judgments will be denied. Any applicants with an unlawful detainer will be denied. Applicants that have filed for bankruptcy in the last three years may be denied. Extenuating circumstances may be considered in the event of medical or other catastrophe. Applicants with a consistent history of late payment of their financial obligations will be denied. Sand Companies, Inc. also establishes minimum credit "beacon" scores. 4. Unlawful/Criminal History: Applicants with a history of unlawful or criminal activity will be denied. Persons involved in drug related criminal activity will be denied. Sand Companies, Inc. also uses the Crime/Drug Free lease addendum, which is signed by all residents (18 years of age or older) of the household and is file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] made part of the lease. Applicants with dependents in the household with criminal offenses will be denied. 5. Rental History: Applicants with a rental history must provide at least one verifiable rental landlord reference with a minimum of one-year rental history. Applicants with a history of late rental payments, verified housekeeping problems and/or a history of disturbing the peace will be denied. 6. Occupancy: Even if the city does not have an ordinance limiting the number of occupants in a unit, Sand Companies, Inc. sets occupancy standards of no more than two residents per bedroom. • j+(^ - G West i'iem, TShrtes Proposed Development Page 6 The Need for Work-Foree Hotisii'g According to the Family Housing Fund, a non-profit fiinder for affordable housing in the Twin Cities metro area, housing is "affordable" if a family pays no more than 30 percent of its income for housing costs. In the Twin Cities metro area, more than 185,000 lower income households pay more than this amount for housing. Almost half live in the suburbs such as Plymouth. West View Estates will help the City achieve some of its housing goals in the 2030 Comprehensive Plan including the development of a variety of housing that are suitable for a mix of incomes and the new development of affordable/work-farce housing. The 2030 Comprehensive Plan identifies three primary housing issues that will need to be addressed by Plymouth_ housing diversity, housing affordability and housing duality. Diversi . Rental housing is an important component of overall housing supply as it services the needs of several segments of the population including retail service employees, seniors, young adults just entering the workplace and economically disadvantaged households. Affordability. The availability of quality affordable housing is an issue in every Twin Cities area community. Because of the disparity of housing costs and wages throughout the Twin Cities, affordable housing continues to be a major initiative of the Metropolitan Council. The Met Council has allocated a need for 1,045 affordable housing units to Plymouth between now and the year 2020. Quali1y. The quality and long-term viability of existing and new housing stock is essential for successful housing in a community. The proposed West View Estates project will help the City accomplish many of its housing goals in the 2030 Comprehensive Plan and also addresses the primary housing issues. The City will also be partnering with an experienced housing developer that has a proven track record of developing and maintaining high quality projects. Development DeseriptioIl West View Estates will be 67 units which will be developed as a work -force housing project and be financed with Minnesota Housing Finance Agency (MHFA). It will be marketed to working families of Plymouth. The development will provide three (3) one bedroom units, thirty-eight (38) two bedroom units and twenty-six (26) three bedroom units. The proposed contract rents include one underground parking space, water/sewer, refuse removal and heat. All units will have income limits set at 60% or less of area median income (AMI) and initial rents lvc4°f Vicvi, a.states Proposed 1)cxcic pment 7 Page 7 affordable to residents making 50% of AMI. Below is table summarizing unit mix, rents and income limits: Unit Mix. Dents & Iircoirie Limits Table Notes: 1. Unit Square Footages are approximates 2. All incomes are household incomes. Hourly income is based on 2,080 hours annually 3. Annual & hourly income restrictions for a one bedroom unit is based on a household of two file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] 4. Annual & hourly income restrictions for a two bedroom unit is based on a household of four 5. Annual & hourly income restrictions for a three bedroom unit is based on a household of five Local Pnrtieipation — A Key to Being Selected The main funding source for West View Estates is proposed to be federal housing tax credits which are allocated annually by MHFA. The tax credit program is a national program that started in 1987. It is one of the most successful housing programs in the United States as it promotes private development of affordable housing versus public ownership and management. The application for the next funding round is due to MHFA in June 2010 for an allocation of 2011 credits. Because of the program's great success, getting awarded a tax credit project is extremely competitive. The MHFA application weighs heavily on local participation as this allows more State and Federal dollars to fund more projects. Without local participation, an application by a for-profit developer has an extremely low chance of being funded. Plymouth Housing Group, LLC will be working with Sand Companies, Inc. which will have the role of Architect, General Contractor and Manager. MHFA looks at prior experience as a key factor is choosing a project. As an experienced owner and developer of tax credit projects, Sand Companies, Inc. has had very good success by being awarded sixteen housing tax credit developments in the cities of Lakeville ('95), Albany ('96), Hutchinson ('97), Mahtomedi ('98), Chaska ('99), Shakopee ('00), Blaine (' 01), Bloomington ('01), Shakopee ('02), St. Joseph ('04), Chanhassen ('05), St. Cloud (' 05), Jordan ('06), Maple Grove ('07), St. Paul ('07), White Bear Lake ('08) and St. Michael ('09). We are confident that with local participation, the West View Estates application will be very competitive. Local participation from the City can come in many forms from financial to flexibility in development standards along with letters of support. Of course, the more the City is willing to participate, the higher the project will score on the tax credit application. Some examples of assistance include tax increment financing, waiver of fees Wesl View Estntes Proposed Development Page 8 Contract Annual Hourly of Units of BR's Sq. Ft. Rents Income Income 2 1 896 $ 753 40,260 or less 19.35 or less 38 2 1,094 $ 901 $ 50,340 or less $ 24.20 or less 26 3 1,414 S 1.038 S 5=1.360 or less $ 26.13 or less file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] Table Notes: 1. Unit Square Footages are approximates 2. All incomes are household incomes. Hourly income is based on 2,080 hours annually 3. Annual & hourly income restrictions for a one bedroom unit is based on a household of two 4. Annual & hourly income restrictions for a two bedroom unit is based on a household of four 5. Annual & hourly income restrictions for a three bedroom unit is based on a household of five Local Pnrtieipation — A Key to Being Selected The main funding source for West View Estates is proposed to be federal housing tax credits which are allocated annually by MHFA. The tax credit program is a national program that started in 1987. It is one of the most successful housing programs in the United States as it promotes private development of affordable housing versus public ownership and management. The application for the next funding round is due to MHFA in June 2010 for an allocation of 2011 credits. Because of the program's great success, getting awarded a tax credit project is extremely competitive. The MHFA application weighs heavily on local participation as this allows more State and Federal dollars to fund more projects. Without local participation, an application by a for-profit developer has an extremely low chance of being funded. Plymouth Housing Group, LLC will be working with Sand Companies, Inc. which will have the role of Architect, General Contractor and Manager. MHFA looks at prior experience as a key factor is choosing a project. As an experienced owner and developer of tax credit projects, Sand Companies, Inc. has had very good success by being awarded sixteen housing tax credit developments in the cities of Lakeville ('95), Albany ('96), Hutchinson ('97), Mahtomedi ('98), Chaska ('99), Shakopee ('00), Blaine 01), Bloomington ('01), Shakopee ('02), St. Joseph ('04), Chanhassen ('05), St. Cloud 05), Jordan ('06), Maple Grove ('07), St. Paul ('07), White Bear Lake ('08) and St. Michael ('09). We are confident that with local participation, the West View Estates application will be very competitive. Local participation from the City can come in many forms from financial to flexibility in development standards along with letters of support. Of course, the more the City is willing to participate, the higher the project will score on the tax credit application. Some examples of assistance include tax increment financing, waiver of fees Wesl View Estntes Proposed Development Page 8 or assessments, density bonuses, flexibility in zoning or development standards and fast track approvals. One of the most common forms of City participation associated with our past work -force housing developments was the utilization of pay-as-you-go tax increment financing (TIF). We have successfully used this financing tool with projects in Lakeville, Albany, Chaska, Chanhassen, Jordan, St. Paul and White Bear Lake. This tends to be a tool that many cities utilize as it has no up -front costs for the City and also does not create any financial obligations. It is anticipated that West View Estates could support approximately $575,000 in pay-as-you-go TIF based on 20 years of increment (90%) returned to the development. Other cities such as Maple Grove, St. Michael, St. Joseph, Bloomington and Chaska have financially supported our tax credit applications by waiving fees such as local SAC/WAC, building permit and park dedication fees_ Waiving a portion of these fees is a good option for participation and can be easier to administer versus TIF. Below are the projected sources & uses for West View Estates: Sources of Fund First Mortgage Equity Deferred Loans City ©f Plymouth TOTALSOURCES 2,667,390 21 file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] 6,602,340 53% 2,599,769 21% 5 15.1100 5% S 12,444,499 Ion Uses of Funds Land/Construction $ 9,785,544 Professional Fees 1,159,106 Soft Costs 1,175,000 Financing 324,849 TOTAL USES $ 12,444,499 The following is a list of funding that the project is applying for: • Low & Moderate Income Rental Program (LMIR) • Housing Tax Credits (HTC) • MHFA Super RFP Family Housing Fund (FHF) Economic Development & Housing Challenge Program (EDHC) Met Council Livable Communities Housing Grants (LHIA) City of Plymouth Tax Increment Financing/Fee Waiver/Reduction With approximately $575,000 (5%) of total development cost in local support, West View Estates achieves a scoring benchmark which will help it get selected. This local leverage will also open the project up to more significant Federal and State funding. If the City agrees to take part in the project at the requested level, the West View Estates development will bring to the City approximately twenty-four dollars of Federal, State and local monies for every one dollar of City participation. We feel this would be a good, long term investment for the City as West View Estates is committed to be affordable for 30 years. It is important to note that the TIF does not need to be in place for the tax credit application due in June. If the project is selected and moves forward, the project would West View Estntcs Proposed Development 9 Page 9 only then go through the public hearings and establishment of the TIF district. The only thing needed for the application is a letter from the City supporting the uses of TIF or the waiver of fees. One of the attachments is a draft of a proposed letter we would be requesting for the application. Also attached for reference are letters from other cities that were part of previous selected tax credit applications. iMIHFA Coininon Application I have included the MHFA Amended Self -Scoring Worksheet for your review. As it currently stands, the project scores 70 points. This is 4 points lower than where we would want to be based upon awards made last year. Page 5 as well as pages 12 & 13 are the categories affected by the City of Plymouth's participation. Listed below is the impact on scoring by participating/not participating in each of the items: • Item #7 — Regulatory Cost Avoidance/Cost Reduction under Selection Priorities - 5 Points Donation or ivaiver of project specific local government development fees Donation or waiver of a minimal amount by the City of Plymouth will result in 1 point. Density bonus (i. e. an increase in the density otherwise alloii,ed in file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] a given zoning district ii hich may be granted under specific provisions of the Zoning Ordinance) — Nothing required by the City of Plymouth. An explanation by SCI as to how the multifamily site is achieving a higher density than the remainder of the site should result in 1 point. Flexibility in zoning code requirements — The PUD will address this and will result in 1 point. WACISAC reductions — A reduction of a minimal amount by the City of Plymouth will result in I point. Fast-track permitting and approval — Cooperation by the City of Plymouth in this process will result in 1 point. • Item #4 — Rental Assistance under Preference Priorities — 4 Points For developments that cooperatively develop a housing plan/agreement to provide other Rental Assistance (e.g. Section 8, portable tenant based, fortnal recoinrnendation for McKinney vento Shelter Plus Care rent assistance, or other similar programs approved by Minnesota Housing) to meet the existing need as evidenced at application by a letter of intent signed by both the applicant and the local Dousing authority or other similar entities — The project scores 4 points by entering into a cooperative plan/agreement. This is an area that the project could pick up an additional 6 points if the City of Plymouth would provide seven (7) Section 8 Project Based Units. City resources are already taxed therefore we could work towards a solution that would not place an additional burden on the city. These additional 6 points would give the project a very good chance of being selected. 1 Cl - West View Estates Proposed Development Page 10 Developinelit Timelille We have compiled and reviewed a substantial amount of information as it relates to West View Estates in Plymouth. We have targeted June 1, 2012 as the projected opening date. To meet this target date, the following critical path of events is necessary: 1. Secure Land Contract for Land Purchase 2. Present Concept Plan to City Council for Support 3. Apply for Funding to MHFA 4. Award of Funding from MHFA 5. Advance City & LocaI Zoning Approvals 6. Begin Construction 7. Complete Construction Cionelusioll Apr '10 May ` 10 Jun ` 10 Oct 110 Nov '10 Jun 'I 1 Jun '12 West View Estates is an excellent utilization of the site as it meets the goals of the Smart Growth principals for land use. The proposed development mirrors the goals and policies outlined in the 2030 Comprehensive Plan for the City and will also help the City achieve a significant number of its affordable housing goal. If approved, significant State and Federal dollars will be allocated to the project which will directly benefit the City. When complete, West View Estates will offer housing options for the residents and employees of West View Estates. Thank you for your consideration? file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] 01-17 West vie«, Estates Proposed Development Page 11 West view EsLattes A Multifamily Living Connnntit}F Sample Form for Requested Letter of Support * A ** SCI Sand Companies, Ina ( 320) 202-3100 Waite Park, Minnesota wwwSandCompaniesxom Page 12 CITY OF PLYMOUTH LETTERHEAD) April , 2010 Minnesota Housing Finance Agency 400 Sibley Street, Suite 300 St. Paul, Minnesota 55101 Attention: Multifamily Underwriting RE: Tax Credit Application & Super RFP Funding. West View Estates, Plymouth. Dear Multifamily Development: The City of Plymouth is a community made up of residents, businesses and institutions sharing a common history. One of the primary purposes of a community is to serve as a place of residence for its citizens. Assuming this charge, offering a mix of life cycle housing opportunities becomes a challenge for local governments especially in suburban markets. The City has a strong desire to support affordable and work -force housing and is an active participant in the Livable Communities Program. The City's 2030 Comprehensive Plan sets goals that emphasize the development of a variety of housing types that are suitable for a mix of incomes including work -force housing. Developers and the City must be partners to cooperatively develop housing plans to provide life cycle housing in Arden Hills. The City of Arden Hills proposes significant local financial assistance for this project as part of its participation and endorsement. (Option I) If the project is .selected for funding, the City Council supports the use of tax increment financing (TIF) for the project. The TIF structure is proposed to be pay -as -you go with a projected tax exempt bond amount of $575, 000 with 90% of increment returned to the project for seventeen years. As part of the TIF, the project will need to meet state guidelines for tax increment financing including the "but for test or (Option 2) If the project is selected for funding, the City Council supports the use of waiving local development fees in the amount of $575, 000 at the time the building permit is issued. Along with its financial endorsement of West View Estates, the City is supportive of offering flexibility in site development standards such as density and zoning code requirements as the project moves through the development approvals of the City. Although the project will be required to meet all building code requirements, the building officials will, to the best of their abilities, work with project to allow for fast-track permitting approvals. Page 13 The proposed development is an excellent opportunity for the City of Plymouth to achieve a significant number of its affordable housing goal. This endorsement is based upon the findings that the project will meet locally identified housing needs and that the proposed housing is in short supply in the local housing market. This need is evidenced by the gap between the local supply and demand for the proposed type of housing. We respectively request funding approval for this needed development in the City of Plymouth. file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] Sincerely, Kelli Slavik Mayor Page 14 ft West View Estates * A Muldfamity Using C©Ilnnimit' Letters of Support from Other Cities * SCI Sand Companies, Ina ( 1.6web.. M.-rw. ( 320) 202-3100 Waite Park, Minnesota wwwSandCompanies.com Page 15 It' zS EN HILLS September 14, 2009 Minnesota Housing Finance Agency 400 Sibley St. Suite 300 St. Paul, MN 55101 Attention: Multi -family Underwriting Re: Housing Tax Credit Program & Super RFP ARDEN VILLAGE — ARDEN HELLS Dear Multifamily Development: The City of Arden Hills is a community made up of residents, businesses and institutions sharing a common history. One of the primary purposes of a community is to.serve as a place of residence for its citizens. Assuming this charge, offering a mix of life cycle housing opportunities becomes a challenge for local governments, especially in suburban markets. The City has a strong desire to support affordable and work -force housing and is an active participant in the Livable Communities Program. The City's 2030 Comprehensive Plan sets goals that emphasize the development of a variety of housing types that are suitable for a mix of incomes, including work -force housing. Developers and the City must be partners to cooperatively develop housing plans to provide life cycle housing in Arden Hills. The City of Arden Hills proposes to use local financial assistance for this project as part of its participation and endorsement. If the project is selected for funding, the City Council supports the use of tax increment financing (TIF) for the project. The TEF structure is proposed to be pay-as-you-go with a projected tax exempt bond amount of $400,000 with 90 percent of increment returned to the project until the bonds are repaid. As part of the TIF, the project will need to meet all state guidelines for TIF, including the "but for test." The project must also be reviewed under the City's business subsidy policy as well as conform to the City's development standards. Along with its financial endorsement of Arden Village, the City is supportive of offering flexibility in site development standards such as density and zoning code requirements as the project moves through the development approvals of the City. Although the project will be required to meet all building code requirements, the building officials will, to the best of their abilities, work with project to allow for fast-track permitting approvals. The proposed development is an excellent opportunity for the City of Arden Hills to meet a large portion of its housing goals. This endorsement is based upon the findings that the project will meet locally identified housing needs and that the proposed housing is in short supply in the local housing market. This need is evidenced by the gap between the local supply and demand for the proposed type of housing. The City Council's endorsement is evidenced by this letter of support for the proposed development. We respectfully request funding approval for this needed development in the City of Arden Hills. Sin y ; file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] Stan H:r )u d Honorable Mayor City of Arden Hills 1245 West Highway 96 Arden Hills, MN 55112-5743 Phone 651.792.7900 Pax 651.634.5137 mvw.ci.arden-hills.mn.ns Page 16 City of JMaple Grave 12800 Arbor Lakes Parkway, P.O. Box 1180, Maple Grove, i1+1N 55311-6180 763-494-6000 June 11, 2007 Minnesota Housing Finance Agency 400 Sibley Street, Suite 300 St. Paul, Minnesota 55101 Attention: Multifamily Underwriting RE: Tax Credit Application & Super RFP Funding. MAPLE VILLAGE, MAPLE GROVE. Dear Multifamily Development: The City of Maple Grove is pleased that you are considering funding an affordable rental housing development in our community. Maple Grove continues to have tremendous growth in commercial and industrial development which involves significant job growth. We have a great desire for a range of housing opportunities, especially affordable rental housing for employees of our local businesses. We have supported the Livable Communities Act since its inception. To further promote and participate in rental housing opportunities, the City has provided on a case by case basis incentives that have included the waiving of up to 25% of park dedication fees and the waiving of a portion of the building permit along with sewer and water hook-up fees. This endorsement is based upon the findings that the project will meet locally identified housing needs and local ordinances and that the proposed housing is in short supply in the local housing market. This need is evidenced by the gap between the local supply and demand for the proposed type of housing. We are very interested in having additional affordable rental housing in Maple Grove and will work with the developer in all aspects of the development including, but not limited to, the potential for waiving a portion of local development fees and flexibility in zoning such as density bonus and fast track permitting and approvals. We respectively request funding approval for this needed development in the City of Maple Grove. Sincerely, all// U&, Alan A. Madsen rrr, City Administrator " Serving Today, Shaping Tomorrow" AN EQUAL OPPORTUNITY EMPLOYER Page 17 City of Michael 3150 Lander Avenue NE . St. Michael, MN 55376 . (763) 497-2041 . Fax (763) 497-5306 September 30, 2009 Minnesota Housing Finance Agency 400 Sibley Street, Suite 300 St. Paul, Minnesota 55101 Attention: Multifamily Underwriting RE: Housing Tax Credit Program & Super RFP CORNERSTONE VILLAGE — ST. MICHAEL Dear Multifamily Development: The City of St. Michael is a community made up of residents, businesses and institutions sharing a common history. One of the primary purposes of a community is to serve as a place of residence for its citizens. Assuming this charge, offering a mix of life -cycle housing opportunities becomes a challenge for local governments, especially in suburban markets. The City's Comprehensive Plan sets goals and policies emphasizing the establishment of file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] a diverse housing stock, maintaining existing housing units, increasing rental housing opportunities and utilizing housing assistance. Developers and the City must be partners to cooperatively develop housing plans to provide workforce housing in St. Michael. The City of St. Michael proposes significant local financial assistance for the Cornerstone Village project as part of its participation and endorsement. If the project is selected for funding, the City Council will sell the project site to the development for $1.00. A 2008 appraisal by Nagell Appraisal & Consulting valued the property at $295,000. On top of this, the City is willing to waive approximately $198,970 in local development fees such as park dedication, local SAC/WAC and trunk infrastructure. The City will be fronting these costs and preliminary estimates indicate that they can be recaptured over time through a tax increment financing district. The actual reduction in fees will be based on final tax increment projections when the project is finalized. The City completed the installation of new streets and utilities to serve the property this year and does not intend to assess the property for any other improvements. Page 18 The City has also provided off-site stormwater ponding for the site, Not only does this allow the entire site to be utilized, but it saves an estimated $85,000 in initial development costs and long-term maintenance expenses for the owner. Along with its financial endorsement of Cornerstone Village, the City is supportive of offering flexibility in site development standards and zoning code requirements. A concept plan was reviewed and accepted by the City Council on May 26, 2009 with flexibility in zoning standards including density, sct-back reductions, building height and parking. The City is also willing to streamline the process so that preliminary and final plans can be approved in one step, instead of two, saving at least 1-2 months of process time. The proposed 42 unit development is an excellent opportunity for the City of St. Michael to meet a large portion of its housing goals and help redevelop its downtown. This endorsement is based upon the findings that the project will meet locally identified housing needs and that the proposed housing is in short supply in the local housing market. This need is evidenced by the gap between the local supply and demand for the proposed type of housing. The City Council's endorsement is evidenced by this letter of support for the proposed development. We respectively request funding approval for this needed development in the City of St. Michael. Sincerely, y Jen chman Honorable Mayor City of St. Michael Page 19 West view Estates A Multifamily Lig inn Community Sand Companies, Inc. Company Profile A SCI . hand Companies, Ina 11sl.0 r pm D-kp ( 320) 202-3100 Waite Park, Minnesota wwwSandCompanies com Page 20 4 #,ASCI Sand Companies, Inca Construction Property Management Development 320)202-310 0 Waite Park, MN file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] www.SandCompanies.com Company Profile April S, 2010 Office Location: Sand Companies, Inc. 366 South Tenth Avenue Post Office Box 727 Waite Dark, Minnesota 56387 0727 Telephone: (320) 202-3100 Facsimile: (320) 202-3139 Website: www.SandCompanies,com E-mail: SCI a SandCompanies.com Page 21 SAND COMPANIES, INC. MISSION STATEMENT 40- Our Mission Statement Satisfying our client's needs by providing the highest quality products and services, by employing a dedicated team of the most talented, qualified professionals in our industry, whose hard work will prevail in every project they accomplish for our clients." Page 22 SAND COMPANIES, INC. HISTORY - 401.- Sand Sand Companies, Inc. was established in 1991 by Leo M. Sand, along with an experienced team of innovators with well over 50 years of construction, property management and development knowledge to form one of the finest General Contracting, Properly Management and Real Estate Development companies in the Midwest. They specialize in building and developing quality hotels, multifamily residential housing, commercial, retail and office buildings. In July of 1997, Leo M. Sand, Chief Executive Officer, became the sole owner of Sand Companies, Inc. In December of 1997, Sand Companies, Inc. purchased SCS Management, Inc., a full service, hotel management company. To accompany this venture, Sand Companies, Inc. started a rental housing management company in 1998. To better serve its clients and customers, Sand Companies, Inc. hired a staff Architect and CAD Drafter/ Operator in October of 2003. The fully integrated process of design/ development, construction and property management is completed by Sand Companies, Inc. They have the principle goal of reliable site selection and acquisition. They are responsible for market analysis, site selection, local government approvals, along with locating and arranging financing. Sand Companies, Inc. selects quality, reliable engineers, planners and designers to achieve their goal of customer satisfaction. They provide their own experienced project coordination, on-site supervision and excellent quality controls to complete each project on time and under budget. Sand Companies, Inc. is engaged in constant, extensive research for unsatisfied market areas. When a possible area is located, market trends are studied, feasibility analyses are completed and a complete examination of the competitors is considered. A great amount of time and effort is taken before a decision to move forward with a project is made. Possible projects are carefully file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] analyzed through a series of "checks and balances" while they are presented to the construction, development and management teams. Sand Companies, Inc. has earned a reputation for professionalism, thoroughness and proven results. With the combined talents and skills within their organization, a great amount of pride is taken in each and every project by all company personnel. Their team insures value by careful planning, cost containment, innovative ideas and completing a quality project. They take pride in delivering more than what the contract says. sa Page 23 SAND COMPANIES, INC. VISION STATEMENT - 40- Our Vision Statement A team of talented People dedicated to a common goal; to forge ahead, to succeed in building a better place to live and work." Leo M. Sand Chairman Page 24 SAND COMPANIES, INC. STOCK HOLDERS Leo M. Sand, Chairman James W. Sand, Vice President of Asset & Risk Management Roger W. Gerrtken, General Project Superintendent Gene M. Walter, Vice President of Construction Operations Jamie J. Thelen, Chief Executive Officer Michael C. Wendel, President Steven D. Snelling, General Counsel Neil R. Fortier, Vice President of Development SAND COMPANIES, INC. BOARD OF DIRECTORS Leo M. Sand, Chairman Jamie J. Thelen, Chief Executive Officer Michael C. Wendel, President James W. Sand, Vice President of Asset & Risk Management Steven D. Snelling, General Counsel Neil R. Fortier, Vice President of Development SCI 5 Page 25 SAND COMPANIES, INC. MANAGEMENT TEAM i Leo M. Sand, Chairman 31 years Construction, Property Management & Real Estate Development Experience Minnesota General Contractor's License — 32 years Minnesota Real Estate Broker's License — 23 years Started Sand Companies, Inc. in 1991 E-mail Address: LMSandOSandCompanies.com Gene M. Walter, Vice President of Construction Operations file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] 37 years Construction Experience Joined Sand Companies, Ine.'s Team in 1993 E-mail Address: GMWalterOSandCompanies com Roger W. Gertken, General Project Superintendent 23 years Construction Experience Joined Sand Companies, Inc.'s Team in 1994 E-mail Address: RWGertkenOSandCompanies.com Jamie J. Thelen, Chief Executive Officer 14 years Real Estate Development & Management Experience 12 years Municipal Government Experience Minnesota Real Estate License —12 years Joined Sand Companies, Inc.'s Team in 1996 E-mailAddress: JJThelenCa)SandComnanies.com Ted M. Lindberg, Senior Project Estimator 27 years Project Management/Estimating Experience Joined Sand Companies, Inc.'s Team in 1995 E-mail Address: TMLindbergCdSandCompanies.com IV Page 26 SAND COMPANIES, INC. MANAGEMENT TEAM Nail R. Fortier, Vice President of Development 20 years Management Experience Joined Sand Companies, Inc.'s Team in 1997 E-mail Address: NRFortier(@SandCompanies.com Jim W. Sand, Vice President Asset & Risk Management 34 years Property Management & Residential Real Estate Development Experience Minnesota Insurance License — 39 years Minnesota Real Estate Broker's License — 41 years Joined Sand Companies, Inc.'s Team in 1998 E-mail Address: JWSandoSandCompanies.com Jean T. Sand, Compliance Manager 23 years Residential Management Experience Housing Credit Certified Professional (HCCP) - 8 years Certified Occupancy Manager (COM 42) — 7 Years Joined Sand Companies, Inc.'s Team in 1999 E-mail Address: JTSand@SandCompanies.com Jason R. Mortland, Hotel Operations Manager 21 years Hotel Management Experience Joined Sand Companies, Inc.'s Team in 1999 E-mail Address: JRMordand(@SandCompanies.com SandCompanies.com Richard A. Hennings, Senior Architect 41 years Architectural Design & Drafting Experience 14 years Building Experience & American Inst. of Architects — 33 yrs. Registered in Minnesota, North Dakota, Wisconsin, Idaho & Florida Joined Sand Companies, Inc.'s Team in 2003 E-mail Address: RAHennings@SandCompanies.com SandCompanies.com SC7 Page 27 SAND COMPANIES' INC. MANAGEMENT TEAM 00- Cindy Cindy R. Kurilla, Human Resource Manager file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] 18 years of Experience in Human Resources & Benefits Administration Joined Sand Companies, Inc.'s Team in 2004 E-mail Address: CRKurillaOSandCompanies.com Michael C. Wendel, President 33 years Real Estate Development & Property Management Joined Sand Companies, Inc.'s Team in 2007 E-mail Address: MCWendelPSandCompanies.com Sarah B. Nieters, Controller to years Corporate Accounting Experience to years Development & Management Accounting Experience 4 years Multifamily & Heavy Construction Accounting Experience Joined Sand Companies, Inc.'s Team in 2007 E-mail Address: SBNieters(@SandCompanies.com Steven D. Snelling, General Counsel 22 years Corporate Acquisitions and Real Estate Law Joined Sand Companies, Inc.'s Team in 2007 E-mail Address: SD Snelling(& sandcompanies.com Daniel H. Krahn, Vice President of Hotel Management 17 years Hotel Management & Sales/Marketing Joined Sand Companies, Inc.'s Team in 2007 E-mail Address: DHKrahnPsandcompanies.com :, SCI IS Page 28 SAND COMPANIES, INC. MANAGEMENT TEAM Thomas E. Shelly, Florida Business Development Manager 10 years Real Estate, Retail, Development & Property Management 3rd Term BeIleair Town & Fire Commissioner US Securities License & Florida Real Estate Broker Joined Sand Companies, Inc.'s Team in 2009 E-mail Address: TEShelly@SandComnanies.com Renee J. Retterath, Regional Property Manager 12 years Asset & Residential Property Management Experience 3 years Commercial Sales and Leasing Experience Certified Residential Maintenance Technician (CRMT) — 5 yrs. COM -42 (Low Income Housing Tax Credit Program) — 8 yrs. Joined Sand Companies, Inc.'s Team in 2009 E-mail Address: RJRetterathPSandCompanies.com Ryan T. Gideon, Vice President of Construction 5 years Land Development Experience 11 years Project & Engineer Management Experience Licensed MN Professional Engineer —10 yrs. Joined Sand Companies, Inc.'s Team in 2010 E-mail Address:.RTGideon@SandCOMDanies.com Vickie L. Anderson, Sales Development Director 12 years Hotel Management Experience Carlson Golden Rose Awards — 2006 & 2007 Certified Hospitality Sales Professional & Hotel Training Coach— 2 yrs. Certified Hospitality Trainer — 1 yrs. Joined Sand Companies, Inc.'s Team in 2010 E-mail Address: VLAndersonoSandCompanies.com Page 29 SAND COMPANIES, INC. BANK REFERENCES American National Bank of Minnesota Mr. Terry Kurowski 3210 West Division, PO Box 7749 Branch President St. Cloud, MN 56302 Tel (320) 253-6568 file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] www.anbmn.com Fax (320) 25.3-9045 Bridgewater Bank Mr. Tom Johnson 2150o Highway 7 Vice President Greenwood, MN 55331 Tel (952) 653-o6o6 www.bridgewaterbankmn.com Fax (952) 470-3933 Crown Bank Mr. Erik Schwegler 6o1 Marquette Avenue South, Suite 125 Vice President Minneapolis, MN 55402 Tel (612) 465-0787 www.Crown-Bank.com Fax (612) 746-5055 Home Federal Savings Bank Mr. Eric Oftedahl 5014th Avenue, Suite loo Vice President Sartell, MN 56377 Tel (32o) 654-4020 www.justcallhome.com Fax (320) 252-6516 Neighborhood National Bank Mr. Clark Bauldwin 803 North Nokomis NE, PO Box 129 President Alexandria, MN 563o8 Tel (320) 763-8366 www.nnbnet.com Fax (320) 763-8367 Tennessee Commerce Bank Mr. Dick Myers 1660 South Highway loo, Suite 500 Vice President St. Louis Park, MN 55416 Tel (952) 697-3625 www.tncommereebank.com Fax (952) 697-3626 ; Sa 10 Page 30 SAND COMPANIES, INC. TRADE REFERENCES Al's Ornamental Iron & Welding, Inc. Mr. Al Haus 304 31st Avenue South Tel (32o) 656-8851 Waite Park, MN 56387 Fax (32o) 656-8860 Cemstone Concrete Solutions Mr. Thor Becken 2025 Centre Pointe Boulevard, Suite 300 Tel (651) 688-9292 Mendota Heights, MN 55120-1221 Fax (651) 688-0124 www.cemstone.com J-Berd Mechanical Contractors, Inc. Mr. Dave Berdan 3308 Southway Drive Tel (32o) 656-0847 St. Cloud, MN 56301 Fax (32o) 656-0312 JT Electric Service, Inc. Mr. Terry Oehrlein 34658 2S5th Avenue, PO BOX 476 Tel (320) 845-4789 Albany, MN 56307 Fax (320) 845-4920 www.jtelectricservice.com Lindell Engineering Mr. Dick Lindell 3411 Kilmer Ln N Tel (888) 343-0319 Minneapolis, MN 55441 Fax (763) 542-9214 www.lindelleng.com Trimpac, Inc. Mr. Mac McCarney PO BOX 277 Tel (320) 202-3200 St Cloud, MN 56302 Fax (320) 202-3202 www.trimp aconline. eom Westwood Professional Services, Inc. 370112th Street North, Suite 2o6 Tel (320) 229-2323 St. Cloud, MN 56303 Fax (320) 253-8737 wvvw.westwoodps.com 4 SG7 Page 31 SAND COMPANIES, INC. CLIENT REFERENCES Birchaven Village 1633 Delton Avenue file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] Bemidji, MN 566o1 Gorham Housing Partners 841 East Forest Avenue Mora, MN 55051 Horizon Health, Inc. 93 Edward St S, PO Box 220 Pierz MN 56364 Midwest Housing Group, LLC 12315 Heather Avenue North Hugo, Minnesota 55308-8318 Mother of Mercy Nursing Home 230 Church Avenue Albany, MN 56307 St. Cloud Housing Limited Partnership 6o9 Ninth Street North Sartell, MN 56377 Stearns County HRA 3121st Street North Cold Spring, MN 56320 WML Services Corporation 2101 South Blackhawk Street, Suite loo Aurora, CO 80014 WNC Associates, Inc. 1711 W Country Rd B, Suite 104-S St. Paul, MN 55113 SCI Mr. Jim Birchem Tel (218) 444-1709 Fax (218) 444-1744 Mr. Pat Gorham Tel (32o) 679-1632 Fax (32o)679-5574 Ms. Bridget Britz Tel (320) 468-6451 Fax (320) 468-6452 Mr. John Belisle Tel (651) 429-2445 Fax (253)295-2240 Evelyn Budde Tel (32o) 845-2969 Mr. Stan Weinberger Tel (320) 252-4414 Fax (320) 252-4482 Mr. Bob Swanberg Tel (32o) 685-7771 Fax (32o) 685-7580 Mr. Earl Wing Tel (303) 564-4685 Mr. Darrick Metz Tel (888) 798-0557 Fax (651) 634-0559 I Page 32 SAND COMPANIES, INC. CITY REFERENCES City of Albany PO Box 370 file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] Albany, MN 56307 City of Blaine 1o8o1 Town Sq. Dr. Blaine, MN 55449 City of Bloomington 1800 West Old Shakopee Road Bloomington, MN 55431 City of Chanhassen 77oo Market Blvd, PO Box 147 Chanhassen, MN 55317 City of Chaska One City Hall Plaza Chaska, MN 55318 City of Inver Grove Heights 8150 Barbara Avenue Inver Grove Heights, MN 55077 City of Jordan 210 East First Street Jordan, MN 55352 City of Mankato PO Box 3368 Mankato, MN 56o02 City of Maple Grove PO Box 118o Maple Grove, MN 55311 City of Plymouth 3400 Plymouth Blvd. Plymouth, MN 55447 Mr. Tom Schneider ( 320) 845-4244 Mr. Bryan Schafer ( 763) 785-6144 Mr. Bob Hawbaker 952) 563-8922 Ms. Sharmeen Al-Jaff 952) 227-1134 Mr. Dave Pokorney ( 952) 448-2851 Mr. Bill Turnblad ( 651) 450-2553 Mr. Ed Shukle ( 952) 492-2535 Mr. Paul Vogel 507) 387-8613 Mr. Dick Edwards 763) 494-6045 Ms. Marie Darling ( 763) 509-5457 l) Page 33 SAND COMPANIES, INC. LICENSE NUMBERS MN Building Contractors License: BC -20o61296 MN Real Estate Company License: RC -20144987 Idaho Building Contractors License: RCE -14218 Florida Building Contractors License: GCG1517361 PROFESSIONAL AFFILIATIONS file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] Associated Builders and Contractors, Inc. American Institute of Architects Minnesota Chamber of Commerce Minnesota Multi -Housing Association Minnesota Safety Council St. Cloud Area Chamber of Commerce St. Paul Chamber of Commerce Society of Human Resource Management ACCOUNTANT & LEGAL COUNSELS _ 001 - Law Office of Peter J. Fuchsteiner PLLC Mr. Peter Fuchsteiner St. Cloud, Minnesota (320) 293-1009 Rajkowski, Hansmeier, Ltd. St. Cloud, Minnesota www.RajHan.com Schlenner Wenner & Company St. Cloud, Minnesota NN,ww.swcocpas.com Mr. Tom Jovanovich ( 320) 251-1055. Mr. Robert Hengel ( 320) 251-0286 I Q 14 Page 34 SAND COMPANIES, INC. CONSTRUCTION & DEVELOPMENT PROJECT LIST" 1990 Park Place Estates 84 Units Luxury Apartments St. Cloud, Minnesota 1990 Speedy Print St. Cloud, Minnesota 1991 Skip Sorensen Residence Monticello, Minnesota 1992 Park Place Estates II 92 Units Luxury Apartments St. Cloud, Minnesota 1994 7a` Street Townhomes 15 Units Rental Townhomes Monticello, Minnesota 1994 Country Inn 46 Guest Rooms Baxter, Minnesota 1994 Regency Park Estates 145 Units Luxury Apartments St. Cloud, Minnesota 1995 Country Inn 6o Guest Rooms Woodland Park, Colorado 1995 Lakeville Court Apartments 52 Units Rental Apts/Townhomes Lakeville, Minnesota 1996 Countryside Townhomes 12 Units Rental Townhomes Albany, Minnesota SCI 1996 Country Inn & Suites 46 Guest Rooms file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] Detroit Lakes, Minnesota 1996 Albany Cottages — Phase I 4 Units Rental Patio Homes Albany, Minnesota 1997 Country Inn & Suites 22 Guest Room Addition Baxter, Minnesota 1997 Huski Townhomes 32 Units Rental Townhomes Hutchinson, Minnesota 1997 Mercy Manor 41 Units HUD 202 Housing Albany, Minnesota 1997 Country Inn & Suites 63 Guest Rooms Shakopee, Minnesota 1997 Country Inn & Suites 46 Guest Rooms Walker, Minnesota 1998 Albany Cottages — Phase II 8 Units Rental Patio Homes Albany, Minnesota 1998 Park Forest Estates 55 Units Senior Apartments Mora, Minnesota 1998 Country Inn & Suites 48 Guest Rooms Albany, Minnesota I Page 3 5 STAND COMPANIES INC. CONSTRUCTION & DEVELOPMENT PROJECT LIST 1998 Country Inn & Suites 78 Guest Rooms & Conf. Center Mankato, Minnesota 1998 TGI Friday's Restaurant 297 Seats Mankato, Minnesota 1998 Woodland Townhomes 30 Units Rental Townhomes Mahtomedi, Minnesota 1999 Country Inn & Suites 79 Guest Rooms Elk River, Minnesota 1999 Microtel Inn & Suites 82 Guest Rooms Fargo, North Dakota 1999 Sterling Twinhomes 34 Units For Sale Twinhomes Mahtomedi, Minnesota 1999 Brickstone Townhomes 30 Units Rental Townhomes Chaska, Minnesota 1999 Brickstone Estates 53 Units Apartments w/Retail Chaska, Minnesota 1999 Elm Creek Twinhomes file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] 14 Units For Sale Twinhomes Maple Grove, Minnesota 1999 Park Place Phase I Community Rm. & Elevator Add St. Cloud, Minnesota e Sa C 2000 The Creeks 24 Units Rental Townhomes St. Cloud, Minnesota 20oo Boulder Ridge Townhomes 3o Units Rental Townhomes Shakopee, Minnesota. 2000 Memory Lane Alzheimer Facility Albany, Minnesota 2000 School Square Apartments 17 Units Apts/Townhomes Albany, Minnesota 2000 Birchaven Village Apartments 42 Units Sr Congregate Housing Bemidji, Minnesota 2001 Lake Side Townhomes 36 Units Rental Townhomes Woodbury, Minnesota 2001 Country Place Apartments 16 Units Senior Housing_ Pierz, Minnesota 20oi Eagle Court Apartments 13 Units Senior Housing Randall, Minnesota 20o1 The Preserve at Commerce 192 Units Luxury Apartments Rogers, Minnesota 2001 Lyndale Avenue Townhomes 23 Units Rental Townhomes Bloomington, Minnesota 16 Page 36 SAND COMPANIES, INC. CONSTRUCTION & DEVELOPMENT PROJECT LIST -- 400- 2001 2001 Heading 4 Home Twinhomes 20 Units Rental Twinhomes Scattered Sites in Stearns County 2oo1 Oak Grove Townhomes 30 Units Rental Towohomes St. Cloud, Minnesota 2001 Shadow Hills Estates 322 Units Luxury Apartments Plymouth, Minnesota 2002 Heritage Park Estates 15o Units Luxury Apartments St. Cloud, Minnesota 2002 North Pointe Townhomes 18 Units Rental Townhomes file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] Blaine, Minnesota 2002 East Ridge Court 18 Units Senior Housing Renville, Minnesota 2002 Southview Estates 47 Units Apartments Bloomington, Minnesota 2003 Boulder Ridge Townhomes II 22 Units Rental Townhomes Shakopee, Minnesota 2003 Country Inn & Suites 193 Guest Rooms Denver (Airport), Colorado 2003 American National Bank Expansion & Renovation St. Cloud, Minnesota 2003 Country Inn & Suites 23 Guest Room Addition Conference Center Expansion Mankato, Minnesota 2003 Monument Ridge Estates 135 Units Luxury Apartments Inver Grove Heights, Minnesota 2004 Central MN Federal Credit Union Office Building Renovation St. Joseph, Minnesota 2004 Main Street Apartments Demo Environmental/Demolition Albany, Minnesota 2004 Heritage Place 75 Units Senior Apartments Rogers, Minnesota 2004 Country Inn & Suites - East 67 Guest Rooms St. Cloud, Minnesota 2004 Mercy Manor Remodel Senior Assisted Living Conversion Albany, Minnesota 2004 Residential Land Development 21 acres of Multi & Single Family St. Joseph, Minnesota 2004 Pullman Place 65 Unit Senior Cooperative Elk River, Minnesota 2005 Morningside Townhomes 32 Units Rental Townhomes St. Joseph, Minnesota 17 Page 37 SAND COMPANIES, INC. CONSTRUCTION & DEVELOPMENT PROJECT UST 2006 Park Meadows Addition 20 Single Family Lots Hutchinson, Minnesota 2006 Albany Golf Vistas Addition 30 Single Family Lots Albany, Minnesota file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] 2007 HOPE on Ninth 31 Units Apartments St. Cloud, Minnesota 2007 Jordan Valley Townhomes 46 Units Rental Townhomes Jordan, Minnesota 2oo6 Village Cooperative - Red Wing 2007 Tamarack Village 44 Unit Senior Cooperative 32 Units of Assisted Living Red Wing, Minnesota Bemidji, Minnesota 20o6 MotherofMercyCampusofCare Remodel & Expansion Albany, Minnesota 20o6 Mora VOA Living Center Residential Living Facility Mora, Minnesota 20o6 Country Inn & Suites 82 Guest Rooms Meridian (Boise), Idaho 20o6 The Gables at Park Pointe 49 Units Apartments St. Louis Park, Minnesota 20o6 Gateway Place 48 Units Apartments Chanhassen, Minnesota 2oo6 Harvester Lofts 43 Condominiums Minneapolis, Minnesota 2oo7 Havenwood Care Center Nursing Home Remodeling Bemidji, Minnesota 2007 Heritage House Memory Care Center Bemidji, Minnesota 2oo7 SclilennerWenner&Company 26,000 SF New Office Building St. Cloud, Minnesota 2007 Scott County Demolition Project Demolition —14 Twinhome Units Jordan, Minnesota 2oo8 Lowertown Lofts Rehab/ Conversion — 1.07 Rental Units St. Paul, Minnesota 2008 Country Inn & Suites Interior/Exterior Renovations Chanhassen, Minnesota 2oo6 Harmony House 2oo8 Westwood Lakes Office 22 Units Sr Housing & 38,000 SF New Office Building Corporate Office Space Golden Valley, Minnesota Pierz, Minnesota 4 SCI 118 Page 38 SAND COMPANIES, INC. CONSTRUCTION & DEVELOPMENT PROJECT LIST 20o8 Pennington & Lies, P.A. 6,000 SF New Office Build -Out St. Cloud, Minnesota 2008 Maple Village file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] 54 Units Apartments Maple Grove, Minnesota 2008 Mora Living Solutions 23 Units Sr Housing Mora, Minnesota Zoog Hoffman Place 6o Units Apartments White Bear Lake, Minnesota 20og Tesseman Companies Office & Warehouse Facility Moorhead, Minnesota 2009 Country Inn & Suites Interior/Exterior Renovations Mankato, Minnesota 2009 Country Inn & Suites Interior/Exterior Renovations Chattanooga, Tennessee 2009 Minnesota Vistas Historic Rehab/6o Units Apartments St. Paul, Minnesota 2009 Minnesota Place Historic Rehab/77 Units Apartments St. Paul, Minnesota 2009 Church of Seven Dolores Interior Renovations Albany, MN 2009 Minnesota Park Historic Rehab/io,000 SF Commercial St. Paul, Minnesota *: SCI 19 Page 39 SAND COMPANIES, INC. HOSPITALITY MANAGEMENT CONTRACTS AmericInn Comfort Suites@ 2100 2°d Avenue NE 1058o Baltimore Street NE Beulah, North Dakota 58523 Blaine, Minnesota 55449 701) 873-2220 (763) 792-0750 •:• 98 Guest Rooms •:• 52 Guest Rooms Country Inn & Suites By Carlson© 6554 Lamplight Drive Albertville, Minnesota 55301 ( 763) 463-2600 •• r 66 Guest Rooms Country Suites By Carlson© 591 West 781h Street Chanhassen, Minnesota 55317 ( 952) 937-2424 122 Guest Rooms ••• 125 Person Conference Center Country Inn & Suites By Carlson@ 903 West Bridge Road Dalton, Georgia 30720 7o6) 278-9700 69 Guest Rooms Country Inn & Suiten By Carlson@ 2921 O'Leary Lane East Troy, Wisconsin 53120 file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] 262) 642-2100 ••• 51 Guest Rooms Country Inn & Suites By Carlson@ 121 Merwin Way Fond Du Lac, Wisconsin 54936 920) 924-8800 65 Guest Rooms Country Inn & Suites By Carlson@ 231 Main Street Billings, Montana 59105 ( 4o6) 245-9995 67 Guest Rooms Country Inn & Suites By Carlson© 7051 McCutcheon Rd Chattanooga, Tennessee 37421 423) 899-2300 82 Guest Rooms Country Suites By Carlson@) 4343 Airport Way Denver, Colorado 80234 ( 303) 375-110.5 •:• 193 Guest Rooms •:• Meeting Rooms Country Inn & Suites By Carlson© 18894 Dodge Street Northwest Elk River, Minnesota 55330 763) 241-6990 79 Guest Rooms Meeting Rooms Country Inn & Suites By Carlson@ 5.105 Highway 153 Hixson, Tennessee 37373 ( 423) 3o8-2333 81 Guest Rooms Meeting Rooms sa 20 Page 40 SAND COMPANIESa INC. HOSPITALITY MANAGEMENT CONTRACTS Country Inn & Suites By Carlsona igoo Premier Drive Mankato, Minnesota 56001 ( 507) 388-8555 ioo Guest Rooms 500 Person Conference Center Attached TGI Friday's Restaurant Country Inn & Suites By Carlson@ 120 711, Avenue Southeast St. Cloud, Minnesota 56304 ( 320) 252-8282 67 Guest Rooms •:• Meeting Rooms Country Inn & Suites By Carlson® 3725 Modern Industries Parkway Tiftonia, Tennessee 37419 423) 825-61oo •:• 76 Guest Rooms file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] High Timbers Lounge 591 West 78th Street Chanhassen, Minnesota 55317 952) 937-2424 Country Inn & Suites By Carlsona 3355 Fast Pine Avenue Meridian, ID 83642 ( 208) 639-3300 • 3 82 Guest Rooms Country Inn & Suites By Carlsono 276o South Ninth Street Salina, Kansas 674o1 ( 785) 827-1271 72 Guest Rooms Meeting Rooms Country Inn & Suites By CarlsonD 2000 Gateway Court West Bend, Wisconsin 53095 ( 262) 334-9400 58 Guest Rooms 27 Page 41 SAND COMPANIESy INC. RESIDENTIAL HOUSING MANAGEMENT CONTRACTS Albany Cottages HOA 12 Units For Sale Townhomes Albany, Minnesota Boulder Ridge Townhomes II 22 Units Rental Townhomes Shakopee, Minnesota Countryside Townhomes 12 Units Rental Townhomes Albany, Minnesota HOPE on Ninth 31 Units Rental Apartments St. Cloud, Minnesota Huski Townhomes 32 Units Rental Townhomes Hutchinson, Minnesota Lakeville Court Apartments 52 Units Apts/Townhomes Lakeville, Minnesota Maple Village 54 Units Rental Townhomes Maple Grove, MN North Pointe Townhomes 18 Units Rental Townhomes Blaine, Minnesota Sawgrass Creek 46 Units Rental Apartments New Port Richey, Florida Woodland Townhomes 30 Units Rental Townhomes Mahtomedi, Minnesota SGS Boulder Ridge Townhomes 30 Units Rental Townhomes file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] Shakopee, Minnesota Brickstone Townhomes 30 Units Rental Townhomes Chaska, Minnesota Gateway Place 48 Units Rental Apartments Chanhassen, Minnesota Hoffman Place 6o Units Rental Apartments White Bear Lake, Minnesota Jordan Valley Townhomes 44 Units Rental Townhomes Jordan, Minnesota Lyndale Avenue Townhomes 23 Units Rental Townhomes Bloomington, Minnesota Morningside Townhomes 32 Units Rental Townhomes St. Joseph, Minnesota Oak Hill Estates 36 Units Rental Apartments Sartell, Minnesota Southview Estates 47 Units Apartments Bloomington, Minnesota Page 42 SAND COMPANIES, INC. PHOTOS Gateway Place - 48 Units Chanhassen, MN e SCI 23 Page 43 SAND COMPANIES, INC. PHOTOS Maple Village - 54 Units Maple Grove, MN 24 Page 44 SAND COMPANIES, INC. PHOTOS Jordan Valley Townhomes - 46 Units Jordan, MN 0 Page 45 West View Estates * A Ifidtifinnily Living Communio, MFHA Amended Self - Scoring Worksheet A S*SCI and Companies, Ina cie0-1ke R q -ft m-wp i D—ka— 320) 202-3100 Waite Park, Minnesota ww wtSandCompan iesxom Page 46 file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] an on Minnesota Housing — Amended Self -Scoring Worksheet 2010 Housing Tax Credit Program Development Name: West View Estates Development Location: 15920 Cty. Rd. 47 Development City: Plymouth Please note the following: Minimum Point Requirements: • Request for Minnesota Housing Finance Agency (Minnesota Housing) administered tax credits from the State's volume cap must demonstrate the project is eligible for not less than 30 points. • Request for tax credits in association with Tax Exempt Bonds over and above the State's allocation of Housing Tax Credits must demonstrate the project is eligible for not less than 40 points. Documentation of Points: Indicate the selection and/or preference priority points expected for your project. Where multiple points per section are available please check the appropriate box (0) for points claimed. Attach directly to this self -scoring worksheet, a separate detail sheet and documentation that clearly supports points claimed. Minnesota Housing will determine actual selection points awarded — points will not be awarded unless documentation is provided along with the application to justify the points claimed. Extended Duration: • All projects with the exception of those obtaining tax credits in association with Tax Exempt Bonds over and above the State's allocation of Housing Tax Credits must maintain the duration of low-income use for a minimum of 30 years. The owner agrees that the provisions of IRC §§ 42(h)(6)(E)(i)(II) and 42(h)(6)(F) (which provision would permit the owner to terminate the restrictions under this agreement at the end of the compliance period in the event Minnesota Housing does not present the owner with a qualified contract for the acquisition of the project) do not apply to the project, and that the Section 42 income and rental restrictions shall apply for the period of 30 years beginning with the first day of the compliance period in which the building is a part of a qualified low income housing project. 4. Design Standards: • The project must meet the HTC Design Standards and be evidenced by a Design Standards Certification form executed by the owner and architect. Additional design requirements will be imposed if Large Family Housing points are claimed/awarded or points are claimed/awarded which require specific design elements i.e. High Speed Internet). 5. A Declaration of Land Use Restrictive Covenants: Covering the rent restrictions and occupancy requirements presented at selection must be placed on the building(s). Amended 2010 HTC Self -Scoring Worksheet 1 of 14 Pag&479/21/2009 ROUNDS i AND 2 — MINIMUM THRESHOLD REQUIREMENTS For applications submitted in Rounds 1 and 2 all applicants statewide must meet one of the following threshold types. Please indicate the Threshold item you meet: A. In the Metropolitan Area: 1. New construction or substantial rehabilitation in which, for the term of the extended use period (term of the Declaration of Land Use Restrictive Covenants), at least 75 percent of the total tax credit units are single room occupancy units with rents affordable to households whose income does not exceed 30 percent of the area median income. 2. ® New Construction or substantial rehabilitation family housing projects that are not restricted to persons 55 years old or older in which, for the term of the extended use period (term of the Declaration of Land Use Restrictive Covenants), at least 75 percent of the total tax credit units contain two or more bedrooms and at least one-third of the 75 percent contain three or more bedrooms; or 3. Substantial rehabilitation projects in neighborhoods targeted by the city for revitalization. B. Outside the Metropolitan Area: 1. Projects which meet a locally identified housing need and which are in short supply in the local housing market as evidenced by credible data such as local council resolution submitted with the application. (For Threshold Letter - Sample Format, see HTC Procedural Manual, Reference Materials file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] Index.) C. Projects that are not restricted to persons of a particular age group and in which, for the term of the extended use period (term of the Declaration of Land Use Restrictive Covenants), a percentage of the units are set aside and rented to persons: 1. with a serious and persistent mental illness as defined in Minnesota Statutes § 245.462, Subdivision 20, paragraph (c); 2. with a developmental disability as defined in United States Code, Title 42, Section 6001, paragraph ( 5), as amended; 3. who have been assessed as drug dependent persons as defined in Minnesota Statutes § 254A.02, Subdivision 5, and are receiving or will receive care and treatment services provided by an approved treatment program as defined in Minnesota Statutes § 254A.02, Subdivision 2; 4. with a brain injury as defined in Minnesota Statutes § 256B.043, Subdivision 4, paragraph (a); or 5. with permanent physical disabilities that substantially limit major life activities, if at least 50 percent of the units in the project are accessible as provided under Minnesota Rules Chapter 1341. D. Preserve Existing Subsidized Housing 1. Projects, whether or not restricted to persons of a particular age group, which preserve existing subsidized housing, if the use of tax credits is necessary to (1) prevent conversion to market rate use or (2) to remedy physical deterioration of the project which would result in loss of existing federal subsidies; or E. Rural Development: 1. Projects financed by Rural Development, which meet statewide distribution goals. Amended 2010 HTC Self -Scoring worksheet 2 of 14Pa P,v. 07/2009 @ Minimum Threshold Requirements g 4 Developer Minnesota Selection Priorities Claimed Housing Awarded [ V: -Ur90 -4 The proposal is for a project that provides family housing that is not restricted to persons 55 years old or older. At least 75 percent of the total tax credit units must contain two or more bedrooms. The tenant selection plan must give preference to families with minor children. Note: If points are claimed/awarded for this category, then no points may be claimed/awarded from the selection priority categories of Single Room Occupancy Housing or Special Populations. At least 50% of the total tax credit units must be one bedroom or less with rents affordable to households whose incomes do not exceed 30 percent of AMI. Note: If points are claimed/awarded for this category, then no points may be claimed/awarded from the selection priority categories of Large Family Housing or Special Populations. The proposal is for the rehabilitation of an existing structure - 10 points Note that for all HTC rehabilitation proposals: + the amount of rehabilitation must exceed: a) $5,000 per low-income unit for the project; and the greater of b) $6,000 qualified basis per low-income unit per building; or c) 20 percent of the adjusted basis. A qualified preservation project that received full points for "Preserves Federally Assisted Low Income Housing" may qualify if rehabilitation exceeds the greater of (b) or (c) above. Calculation is based on rehabilitation hard costs and cannot include intermediary costs or soft costs identified in the application; plans and/or scope of work provided at the time of application. The rehabilitation proposal is part of a community revitalization or stabilization plan - 2 additional points file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] Must be evidenced by a letter from the city verifying that the proposed project is part of an approved community revitalization area as established by resolution or other legal action. OR The proposal is for new construction and will utilize existing sewer and water lines without substantial extensions —10 points Amended 2010 NTC Self -Scoring worksheet 3 of 14 Rev. 07/2009 Selection Priorities Page 49 1A. pe0ml_Populations3 ter Q. _ Projects that are not restricted to persons of a particular age group and in which, for the term of the extended use period (Declaration of Land Use Restrictive Covenants), a percentage of the units are set aside and rented to persons with the following disabilities:. N a) a serious and persistent mental illness as defined in Minn. Stat. § 245.462, subdivision 20, paragraph (c); b) a developmental disability as defined in United States Code, Title 42, Section 6001, paragraph (5), as amended; ( c) assessed as drug dependent as defined in Minn. Stat. § 254A.02, subdivision 5, and are receiving or will receive care and treatment services provided by an approved treatment program as defined in Minn. Stat. § 254A.02, Subdivision 2. ( d) a brain injury as defined in Minn. Stat. § 2568.093, Subdivision 4, paragraph (a); or ( e) permanent physical disabilities that substantially limit major life activities, if at least 50 percent of the units in the project are accessible as provided under Minnesota Rules, Chapter 1341. A project in which at least 50 percent of the total units are set aside and rented to such persons - 10 points A project in which at least 25 percent of the total units are set aside and rented to such persons - 3 points The applicant must contact the human services department for the county where the project will be located to discuss the proposal. The applicant must submit a letter from the human services department indicating that its staff has reviewed the proposed project, and stating whether there is a need for such housing and if the project would be eligible for funds to assist with the social service needs of the residents. In addition, if the project will be delivering supportive services to residents in these units, the applicant must complete and submit the Supportive Housing application materials, including the narratives, forms and submittals identified in the Common Application for Multifamily Rental Housing Resources. Note: If points are claimed/awarded for this category, then no points may be claimed/awarded from the selection priority categories of Large Family Housing or Single Room Occupancy Housing Two (2) Points will be awarded for electing to provide at least 25 percent but not greater than 50 percent of the total units in the project* as qualified HTC low income units. The corresponding HTC applicable fraction will be based on the number of HTC low income units to total units in the project* and will be enforced at the time the Carryover Allocation and IRS Form 8609 are prepared to determine the maximum tax credit allocation for the project. * not including full-time manager or other common space units 1 IFS, It _ I Y.+l+I k,_ .,.__ .._ -__._ ---_--__.-.__.__.. _ - The proposed housing is needed to increase or sustain the supply of affordable housing in counties that experience either job or household population growth during the last ten years. The proposed housing is located in one of the top ten job or household population growth counties - 10 file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] points The proposed housing is located in one of the top twenty, but not in the top ten, job or household population growth counties - 5 points See Reference Materials Index - Project Location - for a list of counties) Amended 2010 HTC Self -Scoring Worksheet 4 of 14Page gt(lv. 07/2009 Selection Priorities J/ DeveloperClaimed Minnesota Selection Priorities Housing Awarded 1A. pe0ml_Populations3 ter Q. _ Projects that are not restricted to persons of a particular age group and in which, for the term of the extended use period (Declaration of Land Use Restrictive Covenants), a percentage of the units are set aside and rented to persons with the following disabilities:. • N ( a) a serious and persistent mental illness as defined in Minn. Stat. § 245.462, subdivision 20, paragraph (c); ( b) a developmental disability as defined in United States Code, Title 42, Section 6001, paragraph (5), as amended; ( c) assessed as drug dependent as defined in Minn. Stat. § 254A.02, subdivision 5, and are receiving or will receive care and treatment services provided by an approved treatment program as defined in Minn. Stat. § 254A.02, Subdivision 2. d) a brain injury as defined in Minn. Stat. § 2568.093, Subdivision 4, paragraph (a); or e) permanent physical disabilities that substantially limit major life activities, if at least 50 percent of the units in the project are accessible as provided under Minnesota Rules, Chapter 1341. A project in which at least 50 percent of the total units are set aside and rented to such persons - 10 points A project in which at least 25 percent of the total units are set aside and rented to such persons - 3 points The applicant must contact the human services department for the county where the project will be located to discuss the proposal. The applicant must submit a letter from the human services department indicating that its staff has reviewed the proposed project, and stating whether there is a need for such housing and if the project would be eligible for funds to assist with the social service needs of the residents. In addition, if the project will be delivering supportive services to residents in these units, the applicant must complete and submit the Supportive Housing application materials, including the narratives, forms and submittals identified in the Common Application for Multifamily Rental Housing Resources. Note: If points are claimed/awarded for this category, then no points may be claimed/awarded from the selection priority categories of Large Family Housing or Single Room Occupancy Housing Two (2) Points will be awarded for electing to provide at least 25 percent but not greater than 50 percent of the total units in the project* as qualified HTC low income units. The corresponding HTC applicable fraction will be based on the number of HTC low income units to total units in the project* and will be enforced at the time the Carryover Allocation and IRS Form 8609 are prepared to determine the maximum tax credit allocation for the project. not including full-time manager or other common space units 1 IFS, It _ I Y.+l+I k,_ .,.__ .._ -__._ ---_--__.-.__.__.. _ - The proposed housing is needed to increase or sustain file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] the supply of affordable housing in counties that experience either job or household population growth during the last ten years. The proposed housing is located in one of the top ten job or household population growth counties - 10 points The proposed housing is located in one of the top twenty, but not in the top ten, job or household population growth counties - 5 points See Reference Materials Index - Project Location - for a list of counties) Amended 2010 HTC Self -Scoring Worksheet 4 of 14Page gt(lv. 07/2009 Selection Priorities J/ 1- il t ,rY.Cot Avoidance Cost on__ t_ta air-tv_ ._ A _ One or more of the following: (One point for each box checked, with a maximum of 6 points) ® Donation or waiver of project specific local government development fees Donation or waiver of project specific assessments or infrastructure costs Z Density bonus (i.e. An increase in the density otherwise allowed in a given zoning district which may be granted under specific provisions of the Zoning Ordinance) Flexibility in zoning code requirements WAC/SAC reductions Fast-track permitting and approval Historic tax credits (at time of application, submit letter from State Historic Preservation Office (SHPO) confirming historic nature of building) If donation/waiver of project specific assessments, infrastructure costs or local government development fees are claimed for points in this section, it cannot also be claimed in the selection points category of Local/Philanthropic Contributions. To receive these points, documentation of the terms and conditions of the regulatory cost avoidance/cost reduction measure must be provided from the contributor of the assistance or authorized local official, at the time of the application. The documentation shall be in the form of a project specific letter of intent, city or council resolution, letter of approval, statement of agreement or eligibility, or memorandum of understanding. If the documentation provided contains words synonymous with "consider" or "may" (as in "may award") regarding the regulatory cost avoidance/cost reduction, the points will not be awarded. The applicant must submit accurate, complete, and credible evidence of the amount of cost savings for each regulatory cost avoidance/cost reduction measure and record the savings in Section VII G of the MF Application Form. Proceeds stemming from historic tax credits must be shown as a source on the application form at the time of application. UPWIN thmp c Contributions -- - - 2 to 10 Points are awarded for projects that are receiving contributions from a local unit of government; an area employer; and/or a private philanthropic, religious or charitable organization. Total local/philanthropic contributions $503,000 divided by Total Development Cost $12,444,499 equals ( rounded to the nearest tenth) 20.1% and above - 10 points 15.1 - 20% - 8 points 10.1 - 15% - 6 points 5.1 - 10% - 4 points 2.1 - 5% - 2 points 0-2%-0points file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] Local/Philanthropic Contributions may include, for example: • Monetary grants/donations • Tax increment financing • Reservation land not subject to local property taxes Land donation of the development site In-kind work and materials donated at no cost • Tax abatement Reservation land with long-term low cost leases If donation/waiver of project specific assessments, infrastructure costs or local government development fees is claimed for points in this section, it cannot also be claimed in the selection points category of Regulatory Cost Avoidance/Cost Reduction. Amended 2010 HTC Self -Scoring worksheet 5 of 14 Rev. 07/2009 Selection Priorities Page 51 Developer Minnesota Selection Priorities Claimed Housing Awarded 1- il t ,rY.Cot Avoidance Cost on__ t_ta air-tv_ ._ A _ One or more of the following: (One point for each box checked, with a maximum of 6 points) ® Donation or waiver of project specific local government development fees Donation or waiver of project specific assessments or infrastructure costs Z Density bonus (i.e. An increase in the density otherwise allowed in a given zoning district which may be granted under specific provisions of the Zoning Ordinance) Flexibility in zoning code requirements WAC/SAC reductions Fast-track permitting and approval Historic tax credits (at time of application, submit letter from State Historic Preservation Office (SHPO) confirming historic nature of building) If donation/waiver of project specific assessments, infrastructure costs or local government development fees are claimed for points in this section, it cannot also be claimed in the selection points category of Local/Philanthropic Contributions. To receive these points, documentation of the terms and conditions of the regulatory cost avoidance/cost reduction measure must be provided from the contributor of the assistance or authorized local official, at the time of the application. The documentation shall be in the form of a project specific letter of intent, city or council resolution, letter of approval, statement of agreement or eligibility, or memorandum of understanding. If the documentation provided contains words synonymous with "consider" or "may" (as in "may award") regarding the regulatory cost avoidance/cost reduction, the points will not be awarded. The applicant must submit accurate, complete, and credible evidence of the amount of cost savings for each regulatory cost avoidance/cost reduction measure and record the savings in Section VII G of the MF Application Form. Proceeds stemming from historic tax credits must be shown as a source on the application form at the time of application. UPWIN thmp c Contributions -- - - 2 to 10 Points are awarded for projects that are receiving contributions from a local unit of government; an area employer; and/or a private philanthropic, religious or charitable organization. file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] Total local/philanthropic contributions $503,000 divided by Total Development Cost $12,444,499 equals ( rounded to the nearest tenth) 20.1% and above - 10 points 15.1 - 20% - 8 points 10.1 - 15% - 6 points 5.1 - 10% - 4 points ® 2.1 - 5% - 2 points 0-2%-0points Local/Philanthropic Contributions may include, for example: • Monetary grants/donations • Tax increment financing • Reservation land not subject to local property taxes Land donation of the development site • In-kind work and materials donated at no cost • Tax abatement Reservation land with long-term low cost leases If donation/waiver of project specific assessments, infrastructure costs or local government development fees is claimed for points in this section, it cannot also be claimed in the selection points category of Regulatory Cost Avoidance/Cost Reduction. Amended 2010 HTC Self -Scoring worksheet 5 of 14 Rev. 07/2009 Selection Priorities Page 51 To qualify for points for tax increment financing or tax abatement, there must be satisfactory documentation that the contribution is committed to the development at the time of application. Calculate the value by using NPV discounted by the AFR. At the time of application, written documentation from the contributor justifying the amount and the terms of the contribution must be provided and be consistent with current market comparable costs Within 6 months of the date of selection (Minnesota Housing Board selection date) the applicant must provide Minnesota Housing with documentation of a firm commitment, authorization or approval of the local/philanthropic contribution(s). The documentation must state the amount, terms and conditions and be executed or approved at a minimum by the contributor. Documentation containing words synonymous with "consider" or "may", (as in "may award") regarding the contribution, will not be considered acceptable. Lack of acceptable documentation will result in the reevaluation and adjustment of the tax credits or RFP award, up to and including the total recapture of tax credits or RFP funds. Points are awarded for leveraging requested state deferred funding with funding from private, federal, local government, religious, philanthropic, or charitable organizations. The formula used to determine the Leverage Ratio Percentage is based upon the cumulative state deferred funding requests/awards* divided by Total Development Cost. *- Including current requests and previous awards from past and present Minnesota Housing and Funding Partners (i.e. Minnesota Department of Employment and Economic Development, Family Housing Fund, Greater Minnesota Housing Fund, Metropolitan Council Local Housing Incentive Account, Minnesota Green Communities) and excluding First Mortgage, Syndication and HOME funds. Total state RFP/Funding Partner Funds awarded and current request $2,674,769 divided by Total Development Cost 12,444,499 equals Leverage Ratio 21.5% (rounded to the nearest tenth.) Developer file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] Minnesota Selection Priorities 10.1 - 15% - 6 points Housing 0 Claimed El Awarded To qualify for points for tax increment financing or tax abatement, there must be satisfactory documentation that the contribution is committed to the development at the time of application. Calculate the value by using NPV discounted by the AFR. At the time of application, written documentation from the contributor justifying the amount and the terms of the contribution must be provided and be consistent with current market comparable costs Within 6 months of the date of selection (Minnesota Housing Board selection date) the applicant must provide Minnesota Housing with documentation of a firm commitment, authorization or approval of the local/philanthropic contribution(s). The documentation must state the amount, terms and conditions and be executed or approved at a minimum by the contributor. Documentation containing words synonymous with "consider" or "may", (as in "may award") regarding the contribution, will not be considered acceptable. Lack of acceptable documentation will result in the reevaluation and adjustment of the tax credits or RFP award, up to and including the total recapture of tax credits or RFP funds. Points are awarded for leveraging requested state deferred funding with funding from private, federal, local government, religious, philanthropic, or charitable organizations. The formula used to determine the Leverage Ratio Percentage is based upon the cumulative state deferred funding requests/awards* divided by Total Development Cost. Including current requests and previous awards from past and present Minnesota Housing and Funding Partners (i.e. Minnesota Department of Employment and Economic Development, Family Housing Fund, Greater Minnesota Housing Fund, Metropolitan Council Local Housing Incentive Account, Minnesota Green Communities) and excluding First Mortgage, Syndication and HOME funds. Total state RFP/Funding Partner Funds awarded and current request $2,674,769 divided by Total Development Cost $ 12,444,499 equals Leverage Ratio 21.5% (rounded to the nearest tenth.) 0 - 5% - 10 points 5.1 - 10% - 8 points 10.1 - 15% - 6 points 15.1 - 20% - 4 points 0 20.1 - 30% - 2 points El 30.1 and above - 0 points At the time of application, written documentation from the RFP/Funding Partner justifying the amount and the terms of the contribution must be provided. Within 6 months of the date of selection (Minnesota Housing Board file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] selection date), the applicant must provide Minnesota Housing with documentation of a firm commitment for each funding source. The documentation must state the amount, terms and conditions and be executed or approved by the lender or contributor and the applicant. Documentation containing words synonymous with `consider" or "may", (as in "may award") regarding the commitment will not be considered acceptable. Lack of acceptable documentation will result in the reevaluation and adjustment of the tax credits or RFP award, up to and including the total recapture of tax credits or RFP funds. Amended 2010 HTC Self -Scoring worksheet 6 of 14Page $ v. 07/2009 Selection Priorities j 10. Readiness to Proceed r 2 to 10 Points 0 Minnesota Housing shall award points to applicants who have secured funding commitments* for funding for one or more funding sources at the time of application except that commitments for funding from Minnesota Housing and Funding Partners (i.e. Minnesota Department of Employment and Economic Development, Family Housing Fund, Greater Minnesota Housing Fund, Metropolitan Council Local Housing Incentive Account, Minnesota Green Communities) are only included if obtained in a previous funding cycle/round. The documentation must state the amount, terms and conditions and be executed or approved by the lender or contributor and the applicant. Documentation containing words synonymous with "consider" or "may", (as in "may award") regarding the commitment will not be considered acceptable. * Excludes all First Mortgage financing and any anticipated proceeds from the current tax credit request. Total eligible funding secured, awarded or committed $3,000 Divided by Total Development Cost $12,444,499 equals Percentage of Funds Committed .02%© (rounded to the nearest tenth) 50% or more of funding secured, awarded or committed - 10 points 40% to 49.9% or more of funding secured, awarded or committed - 8 points 30% to 39.9% or more of funding secured, awarded or committed - 6 points 20% to 29.9% of funding secured, awarded or committed - 4 points 10% to 19.99/a of funding secured, awarded or committed - 2 points ® 9.9% and below of funding secured, awarded or committed - 0 points Points will be given to projects with the lowest intermediary costs on a sliding scale based on percentage of total development costs. For HTC selected projects, this percentage will be enforced at issuance of the IRS Form 8609. Intermediary cost amount: $1,458,757 divided by Total 'Development Costs $12,444,499 Equals Intermediary Percentage 11.7% (rounded to the nearest tenth). 0 .0 - 15% - 6 points 15.1 - 20% - 3 points 20.1 - 25% - 2 points 25.1 - 30% - 1 point 30.1 & over - 0 points Minnesota Housing will impose penalty points for unacceptable practices as identified in Chapter 3 F of the Housing Tax Credit Procedural Manual. The proposal must include a financially viable plan to transfer 100 percent of the HTC unit ownership after the end of the 15 -year compliance period from the initial ownership entity (or Minnesota Housing approved "Transfer of Ownership") of the project to tenant ownership. file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] The unit purchase price at time of sale must be affordable to buyers with incomes meeting HTC eligibility requirements. To be eligible, the buyer must have an HTC qualifying income at the time of initial occupancy ( HTC rental tenant) or time of purchase. The plan must incorporate an ownership exit strategy and the provision of services including homeownership education and training. The Declaration of Land Use Restrictive Covenants will contain provisions ensuring compliance with these home ownership program commitments by the Owner. ( Refer also to Chapter 4 W of the HTC Procedural Manual for additional information.) Until the time the HTC units are purchased by qualified tenants or in the event the HTC units are not acquired by qualified tenants, the owner will extend the duration of low-income use for the full extended use period (30 years). Amended 2010 HTC Self -Scoring worksheet 7 of 14 Rev. 07/2009 Selection Priorities Page 53 Minnesota Selection Priorities Developer Housing Claimed Awarded 10. Readiness to Proceed r 2 to 10 Points 0 Minnesota Housing shall award points to applicants who have secured funding commitments* for funding for one or more funding sources at the time of application except that commitments for funding from Minnesota Housing and Funding Partners (i.e. Minnesota Department of Employment and Economic Development, Family Housing Fund, Greater Minnesota Housing Fund, Metropolitan Council Local Housing Incentive Account, Minnesota Green Communities) are only included if obtained in a previous funding cycle/round. The documentation must state the amount, terms and conditions and be executed or approved by the lender or contributor and the applicant. Documentation containing words synonymous with "consider" or "may", (as in "may award") regarding the commitment will not be considered acceptable. Excludes all First Mortgage financing and any anticipated proceeds from the current tax credit request. Total eligible funding secured, awarded or committed $3,000 Divided by Total Development Cost $12,444,499 equals Percentage of Funds Committed .02%© (rounded to the nearest tenth) 50% or more of funding secured, awarded or committed - 10 points 40% to 49.9% or more of funding secured, awarded or committed - 8 points 30% to 39.9% or more of funding secured, awarded or committed - 6 points 20% to 29.9% of funding secured, awarded or committed - 4 points 10% to 19.99/a of funding secured, awarded or committed - 2 points 9.9% and below of funding secured, awarded or committed - 0 points Points will be given to projects with the lowest intermediary costs on a sliding scale based on percentage of total development costs. For HTC selected projects, this percentage will be enforced at issuance of the IRS Form 8609. Intermediary cost amount: $1,458,757 divided by Total 'Development Costs $12,444,499 Equals Intermediary Percentage 11.7% (rounded to the nearest tenth). 0 .0 - 15% - 6 points 15.1 - 20% - 3 points 20.1 - 25% - 2 points 25.1 - 30% - 1 point 30.1 & over - 0 points file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] Minnesota Housing will impose penalty points for unacceptable practices as identified in Chapter 3 F of the Housing Tax Credit Procedural Manual. The proposal must include a financially viable plan to transfer 100 percent of the HTC unit ownership after the end of the 15 -year compliance period from the initial ownership entity (or Minnesota Housing approved "Transfer of Ownership") of the project to tenant ownership. The unit purchase price at time of sale must be affordable to buyers with incomes meeting HTC eligibility requirements. To be eligible, the buyer must have an HTC qualifying income at the time of initial occupancy ( HTC rental tenant) or time of purchase. The plan must incorporate an ownership exit strategy and the provision of services including homeownership education and training. The Declaration of Land Use Restrictive Covenants will contain provisions ensuring compliance with these home ownership program commitments by the Owner. Refer also to Chapter 4 W of the HTC Procedural Manual for additional information.) Until the time the HTC units are purchased by qualified tenants or in the event the HTC units are not acquired by qualified tenants, the owner will extend the duration of low-income use for the full extended use period (30 years). Amended 2010 HTC Self -Scoring worksheet 7 of 14 Rev. 07/2009 Selection Priorities Page 53 The development serves an underserved population defined as single head of household with minor children, individuals and households of color and one of the following is true: Marketing efforts or project design features will be used that will attract underserved populations including collaborations and partnerships proposed with members or organizations addressing the needs of underserved populations -- 3 points Or Marketing efforts or project design features will be used that will attract underserved populations including collaborations and partnerships proposed with members or organizations addressing the needs of underserved populations; and the applicant has past successful experiences in marketing to or working with underserved populations 1 Underserved Populations - 5 points ® 2 Underserved Populations - 10 points NOTE: see selection priority #4 for Disabled Individuals) 15. Temporary Priority - --- T ^------_ 3 1W The proposal addresses a temporary housing priority and is eligible for the award of points by the Commissioner or the Board of the Minnesota Housing Finance Agency pursuant to authority cited in the Rules of the Minnesota Housing Finance Agency. ( Note: Points cannot be taken in this section for a Temporary Priority if a priority section has been specifically created for it elsewhere in this self - scoring worksheet.) 16. Preservation of Existing Housing Tax Credit Units 10 Points 0 IMPORTANT NOTE THESE POINTS ARE AVAILABLE ONLY TO EXISTING MINNESOTA HOUSING TAX CREDIT PROJECTS APPLYING FOR TAX CREDITS FROM MINNESOTA HOUSING'S COMPETITIVE ALLOCATION PROCESS (CONSOLIDATED RFP) and QUALIFIED TAX EXEMPT PROJECTS APPLYING FOR A PRELIMINARY DETERMINATION LETTER FROM MINNESOTA HOUSING AS THE CREDIT ALLOCATOR. To obtain the related points, the existing tax credit housing must meet the following criteria: 1. The development received a Minnesota Housing allocation of housing tax credits either prior to 1990 or is eligible to and will exercise their option under the provisions of Section 42(h)(6)(E)(i)(II) and 42(h)(6)(F) file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] within the next 12 months; and 2. Applicant agrees to maintain the Housing Tax Credit Units in the development for at least 30 years; and 3. The proposal will not result in the displacement of existing low and moderate income residents; and 4. Units must be considered at risk of going to market rents, where the market rents of comparable units exceed the tax credit rent limits by 10 percent and the proposed rents will increase by more than 30 percent within two years of the Housing Tax Credit Application date, The risk of conversion must be supported by information contained in the application and with final determinations made by Minnesota Housing; or 5. Tax credit units would no longer remain decent, safe, and affordable due to physical deterioration or deterioration of capacity of current ownership/management entity. Amended 2010 HTC selr-Scoring Worksheet 8 of 14 Rev. 07/2009 Selection Priorities Page 54 Developer Minnesota Selection Priorities Claimed Housing Awarded The development serves an underserved population defined as single head of household with minor children, individuals and households of color and one of the following is true: Marketing efforts or project design features will be used that will attract underserved populations including collaborations and partnerships proposed with members or organizations addressing the needs of underserved populations -- 3 points Or Marketing efforts or project design features will be used that will attract underserved populations including collaborations and partnerships proposed with members or organizations addressing the needs of underserved populations; and the applicant has past successful experiences in marketing to or working with underserved populations 1 Underserved Populations - 5 points 2 Underserved Populations - 10 points NOTE: see selection priority #4 for Disabled Individuals) 15. Temporary Priority - --- T ^------_ 3 1W The proposal addresses a temporary housing priority and is eligible for the award of points by the Commissioner or the Board of the Minnesota Housing Finance Agency pursuant to authority cited in the Rules of the Minnesota Housing Finance Agency. ( Note: Points cannot be taken in this section for a Temporary Priority if a priority section has been specifically created for it elsewhere in this self - scoring worksheet.) 16. Preservation of Existing Housing Tax Credit Units 10 Points 0 IMPORTANT NOTE THESE POINTS ARE AVAILABLE ONLY TO EXISTING MINNESOTA HOUSING TAX CREDIT PROJECTS APPLYING FOR TAX CREDITS FROM MINNESOTA HOUSING'S COMPETITIVE ALLOCATION PROCESS (CONSOLIDATED RFP) and QUALIFIED TAX EXEMPT PROJECTS APPLYING FOR A PRELIMINARY DETERMINATION LETTER FROM MINNESOTA HOUSING AS THE CREDIT ALLOCATOR. To obtain the related points, the existing tax credit housing must meet the following criteria: 1. The development received a Minnesota Housing allocation of housing tax credits either prior to 1990 or is eligible to and will exercise their option under the provisions of Section 42(h)(6)(E)(i)(II) and 42(h)(6)(F) file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] within the next 12 months; and 2. Applicant agrees to maintain the Housing Tax Credit Units in the development for at least 30 years; and 3. The proposal will not result in the displacement of existing low and moderate income residents; and 4. Units must be considered at risk of going to market rents, where the market rents of comparable units exceed the tax credit rent limits by 10 percent and the proposed rents will increase by more than 30 percent within two years of the Housing Tax Credit Application date, The risk of conversion must be supported by information contained in the application and with final determinations made by Minnesota Housing; or 5. Tax credit units would no longer remain decent, safe, and affordable due to physical deterioration or deterioration of capacity of current ownership/management entity. Amended 2010 HTC selr-Scoring Worksheet 8 of 14 Rev. 07/2009 Selection Priorities Page 54 Individuals ]Experiencing Minnesota Housing Competitive Round or Tax Exempt Points ("non -Bonus" points) - 5 or 10 Points " Non -Bonus" points will be awarded to permanent housing proposals in which a minimum of 5% (rounded up to the next full unit) of the total units, but no fewer than 4 units are set aside and rented to households experiencing long-term homelessness as defined in Minnesota Rules, Chapter 4900.3705: 5% to 49.9911/o, but no fewer than 4 units - 5 points 50% to 100%, but no fewer than 20 units - 10 points Minnesota Housing Competitive Round or Non -Tax Exempt Points ("bonus" points) - 100 Points 100 points ("bonus points") will be available until a total of $1,687,000 (estimated 25 percent of Minnesota Housing's administered credit authority) in tax credits are awarded for qualifying permanent housing proposals for households experiencing long-term homelessness selected in the 2010 Housing Tax Credit competitions. Once this maximum amount is reached, the 100 points ("bonus" points) will no longer be awarded for the remaining 2010 Tax Credit Program competitive funding rounds. If qualified per the requirements of this section, applicants may claim the "bonus points". Minnesota Housing will make point reductions relating to the bonus points" funding limits following its review of all applications in the funding round which claim these points. Qualified proposals may earn a maximum of 10 points ("non -bonus" points) and may continue to compete in the appropriate set-aside. To receive points under this category, the proposal must meet all of the following conditions: a) the applicant must complete and submit the Supportive Housing application materials, including the narratives, forms and submittals identified in the Common Application for Multifamily Rental Housing Resources; and b) the applicant agrees to pursue and continue renewal of rental assistance, operating subsidy, or service funding contracts for as long as the funding is available. Minnesota Housing recognizes that rental assistance, or operating subsidies, and supportive services may be necessary to effectively serve households experiencing long-term homelessness. If the necessary rental assistance, operating support, or tenant service funding for the project is withdrawn or terminated due to reasons not attributable to the actions or inactions of the owner, and alternative funding is unavailable, and the project is otherwise in full compliance with all the terms of the funding for the project, the owner may petition Minnesota Housing to modify its requirements. Minnesota Housing may (i) relax or eliminate the requirement for supportive services or (ii) relax or eliminate the requirement that the assisted units be occupied by households experiencing long-term homelessness. Should Minnesota Housing eliminate the requirement that the assisted units be occupied by households file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] experiencing long-term homelessness, Minnesota Housing will permit the owner to phase out the targeting of tax credit units to households experiencing long-term homelessness and convert the rents of those units to the 50% tax credit rent limit without jeopardizing the tax credit allocation, provided that more restrictive threshold, selection priority or funding requirements do not apply. If such conversion occurs, in order to retain the tax credit allocation, the above described 50% tax credit rent limit and the Section 42 minimum set-aside elected for the project by the owner must be maintained for the remainder of the tax credit compliance period and extended use period. A proposal which is awarded scoring points from this category and is selected to receive tax credits will be required to comply with the Long -Term Homelessness reporting requirements as defined by Minnesota Housing. The Tax Credit Declaration of Land Use Restrictive Covenants, including a specific Rider to the Declaration, will contain performance requirements related to these long-term homelessness units and will be recorded with the property. The development will provide High Speed Internet access via installation of all appropriate infrastructure and connections for cable, DSL or wireless internet service to every unit in the development. This will be a design requirement if points are taken. Amended 2010 HTC Self -Scoring worksheet 9 of 14 Rev. 07/2009 Selection Priorities Page 55 Minnesota Selection Priorities DeveloperClaimed Housing Awarded Individuals ]Experiencing Minnesota Housing Competitive Round or Tax Exempt Points ("non -Bonus" points) - 5 or 10 Points " Non -Bonus" points will be awarded to permanent housing proposals in which a minimum of 5% (rounded up to the next full unit) of the total units, but no fewer than 4 units are set aside and rented to households experiencing long-term homelessness as defined in Minnesota Rules, Chapter 4900.3705: 5% to 49.9911/o, but no fewer than 4 units - 5 points 50% to 100%, but no fewer than 20 units - 10 points Minnesota Housing Competitive Round or Non -Tax Exempt Points ("bonus" points) - 100 Points 100 points ("bonus points") will be available until a total of $1,687,000 (estimated 25 percent of Minnesota Housing's administered credit authority) in tax credits are awarded for qualifying permanent housing proposals for households experiencing long-term homelessness selected in the 2010 Housing Tax Credit competitions. Once this maximum amount is reached, the 100 points ("bonus" points) will no longer be awarded for the remaining 2010 Tax Credit Program competitive funding rounds. If qualified per the requirements of this section, applicants may claim the "bonus points". Minnesota Housing will make point reductions relating to the " bonus points" funding limits following its review of all applications in the funding round which claim these points. Qualified proposals may earn a maximum of 10 points ("non -bonus" points) and may continue to compete in the appropriate set-aside. To receive points under this category, the proposal must meet all of the following conditions: a) the applicant must complete and submit the Supportive Housing application materials, including the narratives, forms and submittals identified in the Common Application for Multifamily Rental Housing Resources; and b) the applicant agrees to pursue and continue renewal of rental assistance, operating subsidy, or service funding contracts for as long as the funding is available. Minnesota Housing recognizes that rental assistance, or operating subsidies, and supportive services may be file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] necessary to effectively serve households experiencing long-term homelessness. If the necessary rental assistance, operating support, or tenant service funding for the project is withdrawn or terminated due to reasons not attributable to the actions or inactions of the owner, and alternative funding is unavailable, and the project is otherwise in full compliance with all the terms of the funding for the project, the owner may petition Minnesota Housing to modify its requirements. Minnesota Housing may (i) relax or eliminate the requirement for supportive services or (ii) relax or eliminate the requirement that the assisted units be occupied by households experiencing long-term homelessness. Should Minnesota Housing eliminate the requirement that the assisted units be occupied by households experiencing long-term homelessness, Minnesota Housing will permit the owner to phase out the targeting of tax credit units to households experiencing long-term homelessness and convert the rents of those units to the 50% tax credit rent limit without jeopardizing the tax credit allocation, provided that more restrictive threshold, selection priority or funding requirements do not apply. If such conversion occurs, in order to retain the tax credit allocation, the above described 50% tax credit rent limit and the Section 42 minimum set-aside elected for the project by the owner must be maintained for the remainder of the tax credit compliance period and extended use period. A proposal which is awarded scoring points from this category and is selected to receive tax credits will be required to comply with the Long -Term Homelessness reporting requirements as defined by Minnesota Housing. The Tax Credit Declaration of Land Use Restrictive Covenants, including a specific Rider to the Declaration, will contain performance requirements related to these long-term homelessness units and will be recorded with the property. The development will provide High Speed Internet access via installation of all appropriate infrastructure and connections for cable, DSL or wireless internet service to every unit in the development. This will be a design requirement if points are taken. Amended 2010 HTC Self -Scoring worksheet 9 of 14 Rev. 07/2009 Selection Priorities Page 55 New Selection Priority for 2010 Housing Tax Credit Program Developments with a Previous Award of Tax Credits (and not yet Placed in Service) with no funding gap exclusive of the additional tax credits requested at the time of this application a) 1000 points for qualifying developments which have previously been awarded 2008 or 2007 tax credits but have not yet placed in service and have no funding gap. b) 900 points for qualifying developments which have previously been awarded 2009 tax credits but have not yet placed in service and have no funding gap. Developments with a Previous Award of Tax Credits (and not yet Placed in Service) with a limited funding gap of up to $200,000 exclusive of the additional tax credits requested at the time of this application c) 500 points for qualifying developments which have previously been awarded 2008 or 2007 tax credits but have not yet placed in service and have a limited funding gap. d) 400 points for qualifying developments which have previously been awarded 2009 tax credits but have not yet placed in service and have a limited funding gap. Developments must demonstrate readiness to proceed in order to qualify for points under this selection priority. To file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] demonstrate readiness to proceed, developments must meet the following criteria: Development has an annual tax credit shortfall of no more than 50 percent of the total qualified annual tax credit amount. The tax credit application must contain an executed Letter of Intent from the syndicator which is acceptable to Minnesota Housing. The letter must: o Be current within 15 days of submission of the tax credit application o Contain a projected closing date for the development o Contain a projected equity price for purchase of the credit o Contain a detailed explanation of the assumptions being used by the syndicator to arrive at the projected equity price. The tax credit application must contain an executed firm commitment letter acceptable to Minnesota Housing from the providers of all other funding sources. Agency award of developer claimed points are contingent upon Agency underwriting review. Developments awarded points in this Selection 'Priority are expected to make significant progress towards closing within 180 days of selection. Significant progress towards closing includes but is not limited to establishing and maintaining site control, completion of infrastructure, obtaining all required municipal approvals, demonstration of financial feasibility including commitments for interim and permanent financing and firm commitment for syndication or executed limited partnership agreement. Failure to submit sufficient documentation of such continued and significant progress to Minnesota Housing may result in the development's housing tax credit award being rescinded and subsequently awarded to other competitive tax credit developments. Amended 2010 HTC Self -Scoring worksheet 14 of 14Page W. 07/2009 Selection Priorities OO DeveloperClaimed Minnesota Selection Priorities Housing Awarded New Selection Priority for 2010 Housing Tax Credit Program Developments with a Previous Award of Tax Credits (and not yet Placed in Service) with no funding gap exclusive of the additional tax credits requested at the time of this application a) 1000 points for qualifying developments which have previously been awarded 2008 or 2007 tax credits but have not yet placed in service and have no funding gap. b) 900 points for qualifying developments which have previously been awarded 2009 tax credits but have not yet placed in service and have no funding gap. Developments with a Previous Award of Tax Credits (and not yet Placed in Service) with a limited funding gap of up to $200,000 exclusive of the additional tax credits requested at the time of this application c) 500 points for qualifying developments which have previously been awarded 2008 or 2007 tax credits but have not yet placed in service and have a limited funding gap. d) 400 points for qualifying developments which have previously been awarded 2009 tax credits but have not yet placed in service and have a limited funding gap. Developments must demonstrate readiness to proceed in order to qualify for points under this selection priority. To demonstrate readiness to proceed, developments must meet the following criteria: Development has an annual tax credit shortfall of no more than 50 percent of the total qualified annual tax credit amount. The tax credit application must contain an executed Letter of Intent from the syndicator which is acceptable to Minnesota Housing. The letter must: file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] o Be current within 15 days of submission of the tax credit application o Contain a projected closing date for the development o Contain a projected equity price for purchase of the credit o Contain a detailed explanation of the assumptions being used by the syndicator to arrive at the projected equity price. The tax credit application must contain an executed firm commitment letter acceptable to Minnesota Housing from the providers of all other funding sources. Agency award of developer claimed points are contingent upon Agency underwriting review. Developments awarded points in this Selection 'Priority are expected to make significant progress towards closing within 180 days of selection. Significant progress towards closing includes but is not limited to establishing and maintaining site control, completion of infrastructure, obtaining all required municipal approvals, demonstration of financial feasibility including commitments for interim and permanent financing and firm commitment for syndication or executed limited partnership agreement. Failure to submit sufficient documentation of such continued and significant progress to Minnesota Housing may result in the development's housing tax credit award being rescinded and subsequently awarded to other competitive tax credit developments. Amended 2010 HTC Self -Scoring worksheet 14 of 14Page W. 07/2009 Selection Priorities OO Owes Lvw "thco1" a Tenants/Rent Reduction Scores are based on gross rent level including utilities before rental assistance. Eligible units must have rents affordable to households whose incomes do not exceed 30 percent or 50 percent of median income without rental assistance. In addition to the elected income limit of 50 percent or 60 percent RMI for the full term of the declaration ( refer to the Minimum Set -Aside), the applicant agrees to maintain deeper rent structuring for which selection points are requested. Applicants may choose either option 1 or 2, and in addition, option 3 for the development. This selection will restrict rents only (tenant incomes will not be restricted to the 50 percent or 30 percent income level by claiming points in this section). ED Option 1 - A project in which 100 percent of the HTC unit rents representing 67 units are in the county 50 percent HUD area median rent limit - 10 points Option 2 - A project in which at least 50 percent of the HTC unit rents representing units are at the county 50 percent HUD area median rent limit -- S points OR Option 3 - In addition to Option 1 or 2, a project that further restricts 30 percent of the above restricted units to the county 30 percent HUD area median rent limit representing units -- 3 additional points NOTE: If points are claimed/awarded for this category, then no points may be claimed/awarded from the selection priority category of Rental Assistance for the same units. IMPORTAN All 50 percent rent restricted units must meet the 50 percent area median rent for a minimum of five years after the placed in service date. After the first five year period has expired rent may be increased to the 60 percent rent limit over a three year period with increases not to exceed the amount listed in the table below, provided that more restrictive threshold, selection priority or funding requirements do not apply. All 30 percent rent restricted units must meet the 30 percent area median rent for a minimum of five years after the placed in service date. After the first five-year period has expired rent may be increased to the 40 percent rent limit file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] over a three-year period with increases not to exceed the amount listed in the table below, provided that more restrictive threshold, selection priority or funding requirements do not apply. Developer 30% of 300/o Minnesota Preference Priorities Claimed 1 - 5 Housing 30% of 30% 6 30% of 53% Awarded Owes Lvw "thco1" a Tenants/Rent Reduction Scores are based on gross rent level including utilities before rental assistance. Eligible units must have rents affordable to households whose incomes do not exceed 30 percent or 50 percent of median income without rental assistance. In addition to the elected income limit of 50 percent or 60 percent RMI for the full term of the declaration ( refer to the Minimum Set -Aside), the applicant agrees to maintain deeper rent structuring for which selection points are requested. Applicants may choose either option 1 or 2, and in addition, option 3 for the development. This selection will restrict rents only (tenant incomes will not be restricted to the 50 percent or 30 percent income level by claiming points in this section). ED Option 1 - A project in which 100 percent of the HTC unit rents representing 67 units are in the county 50 percent HUD area median rent limit - 10 points Option 2 - A project in which at least 50 percent of the HTC unit rents representing units are at the county 50 percent HUD area median rent limit -- S points OR Option 3 - In addition to Option 1 or 2, a project that further restricts 30 percent of the above restricted units to the county 30 percent HUD area median rent limit representing units -- 3 additional points NOTE: If points are claimed/awarded for this category, then no points may be claimed/awarded from the selection priority category of Rental Assistance for the same units. IMPORTAN All 50 percent rent restricted units must meet the 50 percent area median rent for a minimum of five years after the placed in service date. After the first five year period has expired rent may be increased to the 60 percent rent limit over a three year period with increases not to exceed the amount listed in the table below, provided that more restrictive threshold, selection priority or funding requirements do not apply. All 30 percent rent restricted units must meet the 30 percent area median rent for a minimum of five years after the placed in service date. After the first five-year period has expired rent may be increased to the 40 percent rent limit over a three-year period with increases not to exceed the amount listed in the table below, provided that more restrictive threshold, selection priority or funding requirements do not apply. Minnesota housing will incorporate these restrictions into the project's Declaration of Land Use Restrictive Covenants. The applicant must demonstrate to sole satisfaction of Minnesota Housing that the project can achieve these reduced rents and remain a financially feasible project, IRC § 42(m)(2). Points are contingent upon financial plans file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] demonstrating feasibility, positive cash flow on a 15 -year pro forma and gaining Minnesota Housing management approval (for management, operational expenses, and cash flow assumptions). Amended 2010 HTC self -scoring worksheet 11 of 1407/2009 Preference Priorities Page 6 304/0 of 500/0 30% of 300/o YEAR Rent Levels Rent Levels 1 - 5 30% of 50% 30% of 30% 6 30% of 53% 30% of 33% 7 30% of 57% 30% of 37% 8 30% of 60% 30%v of 40% Minnesota housing will incorporate these restrictions into the project's Declaration of Land Use Restrictive Covenants. The applicant must demonstrate to sole satisfaction of Minnesota Housing that the project can achieve these reduced rents and remain a financially feasible project, IRC § 42(m)(2). Points are contingent upon financial plans demonstrating feasibility, positive cash flow on a 15 -year pro forma and gaining Minnesota Housing management approval (for management, operational expenses, and cash flow assumptions). Amended 2010 HTC self -scoring worksheet 11 of 1407/2009 Preference Priorities Page 6 ICB e!'li/e'tll f1 Q' F4,'.E Irc'3 As_ DEFINITION - Any housing receiving project based rental assistance, operating subsidies, or mortgage interest reduction payments. This includes public housing, Section 236 and Section 221(d)(3) interest reduction payments, and any development with project based Section 8, rent supplement, or rental assistance payments contract. Preserves federally assisted low income housing which, due to mortgage prepayments or expiring rental assistance, would convert to market rate use or due to physical deterioration or deterioration of capacity of current ownership/management entity would lose its federal subsidies. Minnesota Housing, at its sole discretion, must agree that a market exists for a conversion to market rate housing. In order to obtain the related points, the federally assisted housing must meet the following: Units must be considered at risk of losing assistance within two years of the Housing Tax Credit Application date as supported by information contained in the application and with final determinations made by Minnesota Housing. 2 Applicant must agree to continue renewals of existing project based housing subsidy payment contract for as long as the assistance is available. 3 Applicant must agree to maintain the Housing Tax Credit Units in the development for at least 30 years. Except for "good cause" applicant must not evict existing subsidized residents and must continue to renew leases for those residents. 1 __ 3Mill A point is awarded to projects that are located in a Qualified Census Tract (See Qualified Census Tract - file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] Reference Materials Index) and are part of a concerted plan that provides for community revitalization. This must be evidenced by a letter from the city verifying that the proposed project is part of an approved community revitalization area as established by resolution or other legal action. Priority is given to an owner that submits with the application a fully executed binding commitment (i.e. binding Resolution/binding Letter of Approval from the governing body) for project based rental assistance awarded in accordance with 24 CFR Ch. IX, Section 983.51. The assisted units must be located in buildings on the project site. For the purpose of this section, if a proposal contains existing project based assisted units, these units will be counted towards meeting required Rental Assistance percentages. Rent for assisted units must be at or below Fair Market Rents (or appropriate payment standard for the project area). Receiving these points and agreeing to a minimum number of assisted units does not release owners from their obligations under the Minnesota Human Rights Act and Section 42 prohibiting refusal to lease to the holder of a voucher of eligibility under Section 8 of the United States Housing Act of 1937 because of the status of the prospective tenant as such a holder. A current request for Minnesota Housing Rental Assistance will not receive Rental Assistance points. A past award of existing Rental Assistance will be counted toward meeting the required percentages. Indicate the applicable combinations of the below components. Points for A, B and C cannot be claimed in any combination. ( A) For developments agreeing to set aside and having the required binding commitment for at least 51 percent of the total units for project based rental assistance - 13 points ( B) For developments agreeing to set aside and having the required binding commitment for at least 20 percent but under 51 percent of the total units for project based rental assistance - 10 points ( C) For developments agreeing to set aside and having the required binding commitment for at least 10 percent but under 20 percent of the total units for the project based rental assistance - 6 points Amended 2010 HTC self -Scoring worksheet 12 of 14 Rev. 07/2009 Preference Priorities Page 58 Developer Minnesota Preference Priorities Claimed Housing Awarded ICB e!'li/e'tll f1 Q' F4,'.E Irc'3 As_ DEFINITION - Any housing receiving project based rental assistance, operating subsidies, or mortgage interest reduction payments. This includes public housing, Section 236 and Section 221(d)(3) interest reduction payments, and any development with project based Section 8, rent supplement, or rental assistance payments contract. Preserves federally assisted low income housing which, due to mortgage prepayments or expiring rental assistance, would convert to market rate use or due to physical deterioration or deterioration of capacity of current ownership/management entity would lose its federal subsidies. Minnesota Housing, at its sole discretion, must agree that a market exists for a conversion to market rate housing. In order to obtain the related points, the federally assisted housing must meet the following: Units must be considered at risk of losing assistance within two years of the Housing Tax Credit Application date as supported by information contained in the application and with final determinations made by Minnesota Housing. file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] 2 Applicant must agree to continue renewals of existing project based housing subsidy payment contract for as long as the assistance is available. 3 Applicant must agree to maintain the Housing Tax Credit Units in the development for at least 30 years. Except for "good cause" applicant must not evict existing subsidized residents and must continue to renew leases for those residents. ----- - - ----- --- 1 __ 3Mill A point is awarded to projects that are located in a Qualified Census Tract (See Qualified Census Tract - Reference Materials Index) and are part of a concerted plan that provides for community revitalization. This must be evidenced by a letter from the city verifying that the proposed project is part of an approved community revitalization area as established by resolution or other legal action. Priority is given to an owner that submits with the application a fully executed binding commitment (i.e. binding Resolution/binding Letter of Approval from the governing body) for project based rental assistance awarded in accordance with 24 CFR Ch. IX, Section 983.51. The assisted units must be located in buildings on the project site. For the purpose of this section, if a proposal contains existing project based assisted units, these units will be counted towards meeting required Rental Assistance percentages. Rent for assisted units must be at or below Fair Market Rents (or appropriate payment standard for the project area). Receiving these points and agreeing to a minimum number of assisted units does not release owners from their obligations under the Minnesota Human Rights Act and Section 42 prohibiting refusal to lease to the holder of a voucher of eligibility under Section 8 of the United States Housing Act of 1937 because of the status of the prospective tenant as such a holder. A current request for Minnesota Housing Rental Assistance will not receive Rental Assistance points. A past award of existing Rental Assistance will be counted toward meeting the required percentages. Indicate the applicable combinations of the below components. Points for A, B and C cannot be claimed in any combination. A) For developments agreeing to set aside and having the required binding commitment for at least 51 percent of the total units for project based rental assistance - 13 points ( B) For developments agreeing to set aside and having the required binding commitment for at least 20 percent but under 51 percent of the total units for project based rental assistance - 10 points ( C) For developments agreeing to set aside and having the required binding commitment for at least 10 percent but under 20 percent of the total units for the project based rental assistance - 6 points Amended 2010 HTC self -Scoring worksheet 12 of 14 Rev. 07/2009 Preference Priorities Page 58 D) For selection components A, B or C above, if, in addition, the above binding commitments are coupled with a binding commitment to provide the project based rental assistance for a minimum 10 year contract term - 4 points ( E) For selection components A, B or C above, if, in addition, the above binding commitments are coupled with a binding commitment to provide the project based rental assistance for a 5 to 9 year contract term - 2 points NOTE: If points are claimed/awarded for A, B, C, D or E above, then no points may be claimed/awarded from the preference priority categories of Serves Lowest -Income Tenants/Rent Reduction for the same units. M (F) For developments that cooperatively develop a housing plan/agreement to provide other Rental Assistance (e.g. Section 8, portable tenant based, formal recommendation for McKinney Vento Shelter Plus Care rent assistance, or other similar programs approved by Minnesota Housing) to meet the existing need as evidenced at application by a letter of intent signed by both the applicant and the local housing authority file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] or other similar entities - 4 points To receive these points, the applicant must comply with all program requirements for the assistance for which priority points were given, including maintaining rents within the appropriate payment standard for the project area in which the project is located for the full compliance and extended use period of the housing tax credits. As a condition of Carryover or 8609, the applicant must submit a copy of the fully executed contract for the project -based rental assistance to be included in the development. For project based rental assistance in conjunction with a binding commitment for an "extended term contract" at time of application the applicant must submit a binding commitment for the "extended term contract" for project based assistance for a minimum of 5 or 10 years which is signed by the Local Housing Authority or other similar entity. As a condition of Carryover or 8609, the applicant must submit a fully executed copy of the "extended term contract" for the project based assistance to be included in the development. For Other Rental Assistance (e.g.., Section 8, portable tenant based, formal recommendation for McKinney Vento Shelter Plus Care rent assistance or other similar rent assistance programs approved by Minnesota Housing), at time of application the applicant must submit a letter of intent to cooperatively develop a housing plan/agreement which is signed by the applicant and Local Housing Authority or other similar entity along, with the completed Agreement to Utilize Public Housing and Section 8 Waiting Lists. As a condition of Carryover or 8609, the applicant must submit a fully executed copy of the cooperatively developed housing plan/agreement. Amended 2010 HTC Self -Scoring worksheet 13 of 14 Rev. 07/2009 Preference Priorities Page 59 Developer Minnesota Preference Priorities Hou sing Claimed Awarded D) For selection components A, B or C above, if, in addition, the above binding commitments are coupled with a binding commitment to provide the project based rental assistance for a minimum 10 year contract term - 4 points ( E) For selection components A, B or C above, if, in addition, the above binding commitments are coupled with a binding commitment to provide the project based rental assistance for a 5 to 9 year contract term - 2 points NOTE: If points are claimed/awarded for A, B, C, D or E above, then no points may be claimed/awarded from the preference priority categories of Serves Lowest -Income Tenants/Rent Reduction for the same units. M (F) For developments that cooperatively develop a housing plan/agreement to provide other Rental Assistance (e.g. Section 8, portable tenant based, formal recommendation for McKinney Vento Shelter Plus Care rent assistance, or other similar programs approved by Minnesota Housing) to meet the existing need as evidenced at application by a letter of intent signed by both the applicant and the local housing authority or other similar entities - 4 points To receive these points, the applicant must comply with all program requirements for the assistance for which priority points were given, including maintaining rents within the appropriate payment standard for the project area in which the project is located for the full compliance and extended use period of the housing tax credits. As a condition of Carryover or 8609, the applicant must submit a copy of the fully executed contract for the project -based rental assistance to be included in the development. file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] For project based rental assistance in conjunction with a binding commitment for an "extended term contract" at time of application the applicant must submit a binding commitment for the "extended term contract" for project based assistance for a minimum of 5 or 10 years which is signed by the Local Housing Authority or other similar entity. As a condition of Carryover or 8609, the applicant must submit a fully executed copy of the "extended term contract" for the project based assistance to be included in the development. For Other Rental Assistance (e.g.., Section 8, portable tenant based, formal recommendation for McKinney Vento Shelter Plus Care rent assistance or other similar rent assistance programs approved by Minnesota Housing), at time of application the applicant must submit a letter of intent to cooperatively develop a housing plan/agreement which is signed by the applicant and Local Housing Authority or other similar entity along, with the completed Agreement to Utilize Public Housing and Section 8 Waiting Lists. As a condition of Carryover or 8609, the applicant must submit a fully executed copy of the cooperatively developed housing plan/agreement. Amended 2010 HTC Self -Scoring worksheet 13 of 14 Rev. 07/2009 Preference Priorities Page 59 JOTAL POINTS Developer Minnesota Claimed Housing Awarded Under penalty of perjury, Owner hereby certifies the information provided herein is true and accurate. Name of Owner: By: ( Signature) Of: ( Name of Legal E=ntity) Its: Title) (Managing General Partner) Print or type name of signatory) Note: During the competition process, Minnesota Housing's review of the submitted self -scoring worksheet is only to validate that the points claimed are eligible, to reduce points claimed if not eligible, and to determine points awarded. Minnesota Housing will not award additional points which are not initially claimed by the Applicant/Owner. Many performance obligations are created by the claiming of certain scoring points. As such, Minnesota Housing cannot and will not assume the position of creating any such performance obligations on behalf of the Applicant/Owner. In addition, applications funded under the Joint Powers Agreement must also comply with the suballocators selection criteria defined in their qualified Allocation Plan. Amended 2010 HTC Self -Scoring Worksheet 14 of 14 Rev. 07/2009 Preference Priorities Page 60 Developer per Minnesota Preference Priorities Housing Awarded JOTAL POINTS file:///C/Users/agottschalk/Desktop/Housing%20&%20Redevelopment%20Authority%20Packet%2004-22-2010.txt[1/8/2021 3:28:24 PM] Developer Minnesota Claimed Housing Awarded Under penalty of perjury, Owner hereby certifies the information provided herein is true and accurate. Name of Owner: By: Signature) Of: ( Name of Legal E=ntity) Its: ( Title) (Managing General Partner) ( Print or type name of signatory) Note: During the competition process, Minnesota Housing's review of the submitted self -scoring worksheet is only to validate that the points claimed are eligible, to reduce points claimed if not eligible, and to determine points awarded. Minnesota Housing will not award additional points which are not initially claimed by the Applicant/Owner. Many performance obligations are created by the claiming of certain scoring points. As such, Minnesota Housing cannot and will not assume the position of creating any such performance obligations on behalf of the Applicant/Owner. In addition, applications funded under the Joint Powers Agreement must also comply with the suballocators selection criteria defined in their qualified Allocation Plan. Amended 2010 HTC Self -Scoring Worksheet 14 of 14 Rev. 07/2009 Preference Priorities Page 60