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HomeMy WebLinkAboutHousing & Redevelopment Authority Packet 07-21-2011MEETING AGENDA PLYMOUTH HOUSING AND REDEVELOPMENT AUTHORITY THURSDAY, JULY 21, 2011 - 7:00 p.m. WHERE: Parkers Lake Room City of Plymouth 3400 Plymouth Boulevard Plymouth, MN 55447 CONSENT AGENDA All items listed on the Consent Agenda are considered to be routine by the Housing and Redevelopment Authority and will be enacted by one motion. There will be no separate discussion of these items unless a Commissioner, citizen or petitioner so requests, in which event the item will be removed from the consent agenda and considered in normal sequence on the agenda. 1. CALL TO ORDER - 7:00 P.M. 2. CONSENT AGENDA A. Approve HRA Meeting Minutes from June 23, 2011. B. Plymouth Towne Square. Accept Monthly Housing Report. C. Vicksburg Crossing. Accept Monthly Housing Report. D. CDBG. Accept Consolidated Annual Performance and Evaluation Report CAPER). 3. NEW BUSINESS A. Oppidan Development. Consider request to revise Tax Increment Financing District 1-3 budget to facilitate a new development project. B. Senior Buildings. Review replacement schedules and Vicksburg Crossing Long Range Forecast. C. Vicksburg Crossing. Marketing Report. 4. ADJOURNMENT I A• DRAFT MINUTES PLYMOUTH HOUSING AND REDEVELOPMENT AUTHORITY June 23, 2011 PRESENT: Chairman Jeff Kulaszewicz, Commissioners Paul Caryotakis, David Miller, Bob Stein (arrived at 7:11 p.m.) and Jim Willis (arrived at 7:13 p.m.) ABSENT: None STAFF PRESENT: Housing Program Manager Jim Barnes and Office Support Specialist Laurie Loldcen OTHERS PRESENT: Jim Waters, Danielle Fischer and Grace Management Representative Jody Boedigheimer 1. CALL TO ORDER Chairman Kulaszewicz called the Plymouth Housing and Redevelopment Authority meeting to order at 7:00 p.m. Housing Program Manager Barnes added agenda items 3. D. and 3. E. under New Business, 2. CONSENT AGENDA A. Approve HRA Meeting Minutes from April 28, 2011. B. Plymouth Towne Square. Accept April 2011 and May 2011 housing reports. C. Vicksburg Crossing. Accept April 2011 and May 2011 housing reports. MOTION by Commissioner Caryotakis, seconded by Commissioner Miller, to approve the consent agenda. Vote. 3 Ayes. MOTION approved unanimously. 3. NEW BUSINESS A. Quest Development. Request For Financial Assistance. Housing Program Manager Barnes gave an overview of the staff report. Chairman Kulaszewicz asked if this would be the same reserve fiend that we use to fund the social service programs such as Treehouse. Housing Program Manager Barnes responded they are completely different funds. He said the funds that Chairman Kulaszewicz is referring to come fiom the CDBG program, which is a federally funded program. He said that an allocation from those funds would range from about $230,000 and $320,000 annually. He said that these Draft Plymouth Housing and Redevelopment Authority June 23, 2011 Page 2 are funds the HRA has in reserve to do projects with and are separate from the reserve accounts for the two HRA owned senior buildings. Commissioner Caryotakis stated that the reserve fund has not been used a lot over the past few years. Housing Program Manager Barnes replied that we have not. He said the largest application out of the reserve funds in the recent past was the acquisition of the accessible home, which was $140,000. Commissioner Caiyotakis asked if this request would be an appropriate use of these funds. Housing Program Manager Barnes responded that staff considers it to meet our mission and our goals. Chairman Kulaszewicz asked if this Board also has the ability to create a TIF district. Housing Program Manager Barnes replied the HRA does have that ability. He said it is a policy decision by the City's senior staff and the type of district that determines which entity should create a TIF district. He said that the City Council has indicated that they would rather be the elected body to create districts and make administrative changes. He said the HRA Board can create and establish a TIF district but the public hearing has to be held by the elected body, which in our case is the City Council. Chairman Kulaszewicz asked if the term workforce housing is a marketing term or if it is a specific type of housing. Housing Program Manager Barnes responded that workforce housing is a definition that evolves over time and it could be called affordable housing. He said the State uses the term for the developments that are designed to provide housing for people currently in the workforce but may not earn enough to afford decent housing near their employment. Commissioner Caiyotakis stated it distinguishes between what was previously known as housing projects that may have been more welfare related and this language is focused on people who are working and earning an income. Chairman Kulaszewicz stated these workforce units would be available to folks at 50% of the area median income with a guideline that 30% of their income would go towards housing. Housing Program Manager Barnes stated they will have to be affordable to households at 60% area median income, paying 30%o of their income towards rent. He said that's where all the funding partners come in. He said their first mortgage is much smaller and because of this, they are able to set aside some of their units at lower monthly rents. He said it's also based on the tax credit laws. He said there are maximum rent limits they can charge within that and the 50% can change, depending on where you live. He said the metro area is all one number, so that doesn't change in the metro area. Chairman Kulaszewicz asked what the monthly rent would be. Mr. Jim Waters, representing Quest Development, responded that at 60% of area median income a studio rent, utilities included, would be $882 per month and at 50% of area median income, it would be about $760 per month. Draft Plymouth Housing and Redevelopment Authority June 23, 2011 Page 3 Commissioner Caryotakis asked if there is a good demand for these apartments now. Mr. Waters replied they just had a market study completed that shows this particular project would lease up in six months. He said that's very rapid and there's strong demand so the affordable rents would rent out very quickly. Chairman Kulaszewicz asked if they would still be able to do the project without this $4,000 and extra points. Mr. Waters responded they could but not with this degree of affordability. He said when you look at providing 40% or 64 units out of this project to these rental rates, the amount of mortgage dollars that you could yield with that income stream is much lower so you need these tax credits. He said if they are unable to get the tax credits, that would put them in real tough shape for providing the level of affordability they have pledged to the City of Plymouth. He said it would be difficult to go back and take a look at it again. Chairman Kulaszewicz asked about other projects in the works that they are competing against. Mr. Waters replied that they are not able to know how many projects there are but suspects there will be competition and a lot of it. He said they have a unique project in a good location. He said they do not compete against Minneapolis' or St. Paul's projects but rather they are only competing against other suburban projects. He said they believe they have a good chance of receiving funding; otherwise, they wouldn't have made the application. Commissioner Stein stated he did not have a problem with the request for $4,000. I -Ie asked if they need specific things on the application or if there was a way it could be done without including park dedication as part of the request. Housing Program Manager Barnes responded it is a waiver of fees and that park dedication would get their full amount. He said the IIRA would pay $2,000 to park dedication and $2,000 to the city. He said he was not 100% sure if the proposal could all be utility fees but he didn't see why not. He said the application simply asked for reduced or waived fees. He said we are going off the model from the Sand Companies' project, which had park dedication and utilities in those same amounts. Commissioner Stein stated that he didn't want to set precedence because park dedication fund money is very limited. Commissioner Willis added that park dedication fees would not be waived but paid out of those resources. He agreed he didn't want to set precedence either. Commissioner Stein asked what is on the application. Mr. Waters responded the application states it is a contribution, a reduction. Commissioner Stein stated he didn't want to hold up the application. He said sewer and utility fees are fine; it's just park dedication fees are hard to come by. Housing Program Manager Barnes stated that in the future, staff would take that into consideration. He added that if it's acceptable to the Board and if we find out between this meeting and before the application is due that it could all be just one fee, we would make the change. Commissioner Stein stated he would appreciate that. Draft Plymouth Housing and Redevelopment Authority June 23, 2011 Page 4 MOTION by Commissioner Willis, seconded by Commissioner Stein, to approve the request to provide Quest Development with $4,000 from the HRA reserve fund to assist with development. Vote. 5 Ayes. MOTION approved unanimously. B. Plymouth Towne Square. Discuss Purchase Of New Picnic Tables. Housing Program Manager Barnes gave an overview of the staff report. Grace Management Representative Boedigheimer stated that her preference would be to purchase the picnic table with four sides because they could fit two people per side. Housing Program Manager Barnes responded that they could purchase two of the four-sided tables and one that's ADA accessible. MOTION by Commissioner Willis, seconded by Commissioner Miller, to approve the request to purchase tbree new picnic tables for Plymouth Towne Square. Vote. 5 Ayes. MOTION approved unanimously. C. Vicksburg Crossing April 2011 And May 2011 Marketing Reports. Grace Management Representative Boedigheimer stated that both communities have decent waiting lists. She said that they are always getting inquiries and adding names. Commissioner Caryotakis stated that they are doing a great job of filling the units as residents move out. Grace Management Representative Boedigheimer stated that they are on the smoke-free housing website. She said they have a little ad in the Senior Housing Guide, which is a web -based guide that is also printed and distributed in grocery stores. She said that it did not seem to make financial sense to place an ad in the senior section of the Apartment Living Guide but they are investigating it. D. Community Development Block Grant (CDBG) First Time Homebuyer (FTHB) Program. Remove Restrictive Covenants From 4980 Garland Court North, 4 G. Housing Program Manager Barnes gave an overview of the staff report. Commissioner Willis asked when this matter came to their attention. Housing Program Manager Barnes responded that staff had been working with then title company and lender on whether or not the language within the covenants only affected the sale to the private lender and then would be enforced to subsequent buyers. He said that was our original position and then after further review with the City's attorney, it was determined that the affordability requirements are no longer valid. Draft Plymouth Housing and Redevelopment Authority June 23, 2011 Page 5 MOTION by Commissioner Stein, seconded by Commissioner Willis, to approve the Resolution for the removal of the Restrictive Covenants from the property located at 4980 Garland Court North, #G. Vote. 5 Ayes. MOTION approved unanimously. E. First Time Homebuyer Program. Consider Loan Modification Request. Housing Program Manager Barnes gave an overview of the staff report. Commissioner Stein asked if a First Time Homebuyer loan is forgiven over a certain amount of time. Housing Program Manager Barnes replied that the older ones are forgiven after 20 years but most are forgiven after 30 years or when they sell their home or their home no longer is their principal place of residence. He said the newer ones, starting around 2005, 2006, are deferred with no interest and due and payable after 30 years or if the home is sold or is no longer the principal place of residence. Commissioner Caryotakis asked Ms. Fischer if it was her expectation to give herself time to recover, with the intent of selling in the future. Ms. Fischer responded yes and hopefully, the market would recover before the 10 years and she could pay back the balance due prior to the 10 years. She said she understands it is due back to the City and she is not trying to get anything waived. She said it would be difficult for her family to come up with the $17,200 down payment plus closing costs. Commissioner Caryotakis asked if she was facing any challenges from lenders about having this other property. Ms. Fischer replied this is the first step in the process. She said she understands that they would need to qualify for a second mortgage. She said since she received this grant, she had gotten married, then income has tripled and she felt they are in a good position where they would qualify for a second home in Plymouth. She said they want to stay in Plymouth and they definitely would like to sell their home but now is not the time. She said she was able to buy this home as a single mom and this is a great program. She said she knows that she's not alone and she was hoping for an exception. Chairman Kulaszewicz asked if things go according to your plan, do you have a possible perspective tenant on board. He asked if there are other units like this where she is at that are for rent and if there is a possibility that she would actually get a tenant and be able to rent it out. Ms. Fischer responded it is very possible. She said in Chelsea Woods there are a lot of properties for rent. She said she had a garage sale and a woman was very interested in renting it next summer. She said there is an interest there and there's a demand in the City. She said she was sure that they would be able to break even with the rent and the association fees. She said they have done the math and she knows that they would be financially covered to just break even on the rent to cover that mortgage and then proceed with another home. Commissioner Caryotakis stated he understood the situation and thinks that if she is willing to rent it for a period of time that would be a good solution. He said he wouldn't want it to become Draft Plymouth Housing and Redevelopment Authority June 23, 2011 Page 6 a long term solution either for her or for the property. He said hopefully the market will pick up and she will be able to sell it and get out. Commissioner Miller stated that he would like to see language included that upon sale, the full loan is paid. Housing Program Manager Barites stated that would be incorporated into the documents. MOTION by Commissioner Willis, seconded by Commissioner Caryotakis, to approve the request for a loan modification provided that there are no violations of any CDBG regulations, that the City Attorney is able to securitize an amortizing loan on the property and the loan modification is due upon that sale of this property with a term not to exceed 10 years. Vote. 5 Ayes. MOTION approved unanimously. 4. ADJOURNMENT MOTION by Commissioner Miller, seconded by Commissioner Stein to adjourn the meeting at 7:46 p.m. P PLYMOUTH TOWNE SQUARE MEMORANDUM To: Jim Barnes From: Lori Jackson, Managing Director, Plymouth Towne Square Date: July 12, 2011 Re: PTS Monthly Report for June 2011 July Newsletter and Calendar attached June Financial Statement attached Occupancy/Marketing New resident moved into Apartment 203 June 1St Apartment 120 is rented with a move in date of July 15th Resident in Apartment 318 is making an internal move to apartment 126 on July 15th Apartment 318 is rented with a move in date of August 1St Notice to vacate was received from resident in apartment. 221 effective August 31St. Currently there are 115 individuals on the one bedroom wait list and 28 names on the two bedroom wait list. 15500 37th Avenue North • Plymouth, MN 55446-3250 Phone: (763) 550-9525 • Fax: (763) 551-0144 Owned by Plymouth Housing and Redevelopmenr Authority 213 Administrative/Building Operations The kitchen vinyl was replaced in apartment 218 due to a hole in the center of the floor. Interior Design $555.46 Pest Control Abba $141.61 A section of fascia blew off the building and was replaced by All Star Construction. $1,106.79 A leak in the ceiling of Apartment 332 was repaired by All Star Construction. $348.59 Pest Control Plunkett's $194.00 Resident Services CPR class was held with 12 residents attending. All are now certified in CPR and the use of the AED. Residents continue to work on their flower and vegetable gardens. Phil from Lund's Pharmacy came to speak about prescription and over the counter drugs. Treats were served. Residents are holding cookout/potlucks on Wednesday evenings. June Birthdays were celebrated with cupcakes on June 23rd. 11MOLA 1: 1 lyi WELCOME TO NEW RESIDENT Sof Haelan in Apartment 120. We are very happy to have you! FOOD STORAGE If you currently have food items stored in your storage locker, we highly discourage storing any type of perishable items. We are concerned with pest control of bugs -and - mice. Also, it maybe unsafe and unsanitary to keep food items in an area that may be sprayed With chemicals by our pest control company. Please move food items to your apartment for safe keeping. PLEASE TAKE FOOD WITH YOU If you bring food such as cookies or crackers to the activity room or common areas; please take the food items home with you and clean up any mess that may have been made. REMINDER Please no bare feet in the common areas. Shoes must be worn. SAD GOODBYE Judy Aurand in apartment 120 and Marian Goodacre in apartment 126 have moved from the building. We are going to miss both of them! Marian wanted to include.a message -to all of you. I have lived at PTS ever since it opened. My husband was living up until 6 years ago. We had such a wonderful life. 5 grandsons and 3 great grandsons were born while I was here. We had wonderful vacations to our cabin at Crane Lake and other places. Just being with all of you at PTS has been very memorable — lots of good friends here who I will miss. My family has been so good to me as I have grown older. But I'm now looking forward to the next step assisted living at Minnetonka and I'm sure I will like it there. Lots of th ings , have happened here — I could write a book. I feel so fortunate to have lived in this wonderful place! Marian Goodacre N U a U maCL oo r00't(D to L W) UmU i CD JWCY) Wrn JLUcn JYW a-Lo JWa) j W) E E E QQN QQC4 000 QQN C?00 QQN 00 00 (.0 - V W 4Z1 U W Zf D o V LU A 1 4-- o V LU qT 1 0 UU O oar C6 .0 0Q m oar a Q Q U L) C%l m I- V C-po U r Cr1 1 N C) l0 T U M N O co N U a U maCL oo r00't(D to A L L UmU UasU CD Y o h a U-) ha-uU7 a-Lo E E E E E E maa maCL 000 C)C)o C?00 U.)C',p0 00 00 (.0 - r 00 (D m o D o tr- o 4-- o o UU 0 UU O O C6 .0 m m y Q CLaQQ C>ovoo coC O >00 C14 0) m I- C%l m I- rte- P9 C-po Iti 0) Crj I-- r Cr1 1 U UUU E E h h E E m m N 00 C) M tp 00 r 00 U mV} n C)0) L lllto "0 0 V O N oC)C)o'Cl C) U) Qrn(n (U Q rn C C C) c, C C LV o n QoCL moocl, s fn O o ormoC) uj O) O) Y CO LL) T 1T OJ m V) ll m Uma U CD O 00 (Y)Cl Cf r Cf LO Crl O Cf Y, 60 ti 00 r I, - m d c m EE; E 0 E M as mT a CD CD G) r co o C) T coCD d' 00 i-- T OO r i O M T to L C L U U YFUo 0 h a U-) E a a 000 N M Cf O N00;r(D N O N G O O U 0 m U 0T C C O 20a) ismLnC E a) C 0 m Q QQaw a) 000 TLYsoo C>ovoo coC O >00 C14 0) m I- C%l m I- Z c U U h h E E m a 0 0 CD r r4 c ? N 00 N co Na? pLn p U mV} n C)0) L Q m L rn C] C C Q rn Ln UCCV oC)C)o'Cl ooC)o 0)Q[*]NOO wIDInC)O r 1T r C,) Lo N 03 0) m U) U 0 U) OC) s fn OULUCT m mm EC3E E 0 E m,Q mTC- CD O 00 (Y)Cl Cf r Cf LO Crl O Cf Y, 60 ti 00 r I, - ti r d N S"7 md;'86--g Gossing MEMORANDUM To: Jim Barnes From: Sara Paquette Date: July 13, 2011 RE: Vicksburg Crossing Monthly Report for June 2011 July Newsletter and July Calendar attached Dentals: As of June 30th, we have 88 occupied apartments with 6 vacant, and we have 6 deposits at this time, giving us a total of 1 apartment available to rent, The Low Income Apartment waiting list now has 31 names so I have been adding interested people to the list. Listed below is a breakdown of units that are occupied and vacant. Style (Total 4) Square Feet Bedrooms Occupied Vacant Deposits Est'd Move in July 1 Style A (23) 850 Sq Ft 1 Bedroom 20 3 August 1 3 September 1 Style C (8) 884 Sq Ft 1 + Den 7 1 Style C2 (8) 950 Sq Ft 1 + Den 7 1 2 August 1 September 15 Style D (8) 1187 Sq Ft 2 Bedroom 8 0 Style D2 (4) 1281 Sq Ft 2 Bedroom 3 1 1 September 1 Style E (7) 1055 Sq Ft 2 Bedroom 7 0 Style E2 (3) 1055 Sq Ft 2 Bedroom 3 0 725 Sq Ft 1 Bedroom Affordable 33 0 0 TOTALS 88 6 6 3155 Vicksburg Lane N • Plyrnout)r, N[N 554$7 • Phone (763)559-1877 • Fax (763)559-0144 *,rn,,vxi.plyrnoutb.nin.us Owned by Plymouth housing and Redevelopment Authority s EQUAL HOUSING OPPORTUNITY Move-Ins/Move-Outs: We had no move outs or move ins during the month of June. We have one resident, currently living 325, a 1 bedroom den (C2), who put a deposit down on apartment 303, a market rate 1 bedroom. We now have a deposit for her apartment 325. Marketing Although we continue to advertise in the Lakeshore Weekly and Sun Sailor, and receive good response from both, we are looking into some other publications that might help us reach the senior population. This month we are meeting with a representative from the Good Age publication. We did not see a big increase in traffic during June, but a greater percentage of prospects that came to visit the building needed to move in less than 6 months and were willing to make a commitment. Resident Services We ordered food from Chef Lee for a summer celebration on Tuesday, June 21`. The residents enjoyed the food and the entertainment provided by the Plymouth Rockers. On Wednesday, June 15a' Phil from Lund's pharmacy came to our coffee hour, brought treats and answered resident's questions concerning allergies. We had our monthly birthday party on Thursday, June 16th we had cake, ice cream, and coffee. We decorated with balloons, festive napkins and plates. We listed the birthday people on a balloon poster. The residents stood if it was their birthday and we sang Happy Birthday. We also give residents a card on their birthday. Building Issues We had to replace defective window glass in two apartments, 323 and 413. The glass developed spots on it. Window Outfitters has been contacted and the glass is under warranty. Vicks'l7'l lg Crossaz-xg- July 2011 On June 8th we kicked off summer with our summer celebration! The Plymouth Rockers provided lively entertainment and two Vicksburg resi- dents performed, Vivian Flaherty and Nancy Holter, who had a solo. The food from Chef Lee was delicious! Thanks to everyone who helped with set up, serving and clean up. Here in Minnesota summer is short! Let's get outside and enjoy it! We will have a Vicksburg Crossing picnic on Tuesday, July 12th. Friends and family are welcome; however you may come solo too. The picnic will be at the Parkers Lake north picnic shelter. It is on County Road 6 across the street from Parkers Lake up on the hill. Although there is limited parking up on the hill, residents may be dropped off. There are restrooms avail- able, electricity, a playground if grandchildren come and plenty of picnic tables. If people would like to bring lawn chairs that would be great. We may want some more comfortable seating. I realize some residents do not drive so I would like to set up some car- pools. If you would like to go to the picnic but do not have transportation please sign up on the sheet outside my office. I will try to find enough drivers to accommodate residents needing a ride. Thanks ! ! It is nice to see all the colorful flowers in bloom around the building. As always, Frank Heglund did a wonderful job planting our flower pots in front and on the back deck. Margot Schuleman, who has been watering them, has kept them looking beautiful! Apparently the geraniums are so beautiful someone thought it would make a nice home. As you go out the front door to the parking lot the basket hanging on the left has a nest with four blue eggs in it. We will be watching for the babies to hatch! We have one new resident, Clay Hagen, in apartment 123. Welcome to Vicksburg Crossing! The office will be closed on Monday, July 4th for the 0, holiday. Have a great weelzend! Nail Clinic We have a nail clinic scheduled for Thursday, July 14th between 1:30 and 3:30 in the Community Room. They will soak your feet, trim your nails and provide a hand massage. If you are interested there is a sign up sheet outside my office. Community Room Reminders Q When the Community Room is reserved by a resident, on the community room calendar, that reservation takes priority over any activities that other resi- dents may plan. If you would like to get together to play cards or games and someone has the room reserved please use the library or someone's apartment. Q When you use the room for a gathering of family or friends please make sure that any children attending stay in the community room, or weather permitting, out on the back deck. Children should not be wandering the building unsupervised. Q Thank You? Burt's Birds" Yellow Headed Blackbird The male arrives early in spring to stake out his territory. The females straggle in later and spend the next days getting familiar with the territory and the males. The male blackbird may acquire from one to six females and may later mate with more females to create a second brood. The female builds a nest of wet vegetation in reeds standing 1 to 3 feet high above the water. She lays eggs 3 to 5 eggs which require 11 to 13 days of incubation. The young fledge from 9 to 12 days after hatching. In the fall the males separate from the females and the young. They form flocks of thousands to winter in all the southern states, Mexico and Costa Rica. Life span for blackbirds ranges from S to 18 years. Burt G Vicksburg Family Picnic We will be having a picnic on Tuesday, July 12th at 5:00. Residents may come by themselves or bring a family member or friend. The picnic will be at the Parkers Lake North Picnic shelter. It is on County Road 6 across the street from Parkers Lake up on the hill. A few handicap parking spots are available near the shelter and there is additional parking nearby. We will have horseshoes and there is a small playground next to the shelter for grandchildren. Potbelly sandwiches, potato salad, watermelon, chips, cookies and beverages, all for $5.00 per person. What a great deal!! Sign up for the picnic will be Tuesday, July 5th and Wednesday, July 6th in the Community Room from 10-12. If you would like to help the day of the party you will find a sign up sheet outside my office. We will meet at the picnic shelter at 4:30 for set up. Also outside my office there will be a sign up sheet for residents who need a ride over to the park. Please let me know if you would be willing to provide transportation. Hope you can join your friends & neighbors for a summer picnic? Aldi li Ali li 104' li71 I I iii 1-E /ice iii Ali I Ali ,1 Ali li Aliye-z' i i- 7 71C 71N IN "0. 71. ye - Reminder: Ali li li Ali Ali li Ali 71\ i-' 76 July rent is due on or before Tuesday, July 5th. 1! 1 li li Ali li 1 Ali 1 I Ali li 1 iii li 1 Ali li 1 li li Ir 1 li li li i li I i1 3i 7i iii I 1 i1 31 3i iii 3iC 3i ilk I 1 1 1 71 1 71 31 1 iC' Y: EK Resident Meeting o, We reviewed a few building issues. Residents were reminded thatintheyshouldnotuseplasticbagstodisposeofrecyclingandtogpy9 : please return Walgreens carts if they use them to bring items o T. home. The maintenance crew asked residents to use 114C. Vegetable oil in their garbage disposal one time per month if they do not use it to avoid rusting. Also run your dishwasher two times per month so the seals do not dry out. We talked about upcoming events. r Happy Birthday to the following residents this month: July Birthdays will be celebrated on Thursday, July 21st in the Community Room. The birthday celebration is open to all residents who wish to come down and help us celebrate. Even if it's not your birthday) Our birthday party is always on the 3rd Thursday of the month. Dick Golfis July 4th Joyce Goll July 4th Rose Conigho July 8th Marlene Parker July 11 th Sharon Triem July 16th Sally Gesink July 27th Kwang Sook Kittelsen July 30th i` u LL qo C 2 N a b MN O M 0 Q O q 0 ct O 07 ao ro U p U Q e- ro 0 U U 0 e.: NN ro U p Q g ro 0 C C C U S: C qo O O C q cd O O co U U r- co 4Q C 15 o m r A go qo 0 CoU a> n J I 44 p N J N Z N J Ak 9 AM U U o Vim. U tOO O O flo ro A\6v bo OUl) ioa maq Qaq ca cd O b> V qj ty) co 0) 0 0) m U QO b a m Q) Al D o m cp O d O k O O oc Agenda NumberL—sv 0 PLYMOUTH HOUSING AND REDEVELOPMENT AUTHORITY STAFF REPORT TO: Plymouth Housing and Redevelopment Authority FROM: Jim Barnes, Housing Programs Manager through Steve Juetten, Executive Director MEETING DATE: July 21, 2011 SUBJECT: 2010 Community Development Block Grant (CDBG) Consolidated Annual Performance and Evaluation Report (CAPER) and Notice of Annual Citizens' Participation Meetings BACKGROUND: The attached 2010 Consolidated Annual Performance and Evaluation Report (CAPER) reviews the City of Plymouth's accomplishments towards meeting the 5 -year goals defined in the Consolidated Plan, as required by the Department of Housing and Urban Development (HUD) for communities receiving CDBG funding. The 5 -year goals of the Consolidated Plan are the quantitative unit goals for the entire Hennepin County Consortium, which includes Hennepin County, and the cities of Bloomington, Eden Prairie, Minnetonka and Plymouth. The 2010 year consists of the time period from July 1, 2010 through June 30, 2011 and is the first grant period of the 2010-2014 Consolidated Plan. DISCUSSION: The 5 -year goals of the Consolidated Plan are the quantitative unit goals for the entire Hennepin County Consortium. Based on Federal funding allocations, Plymouth is responsible for approximately 5% of the Consortium's goals. The City helped five homeowners/households with residential rehabilitation assistance, four household with emergency small repair grant funds, and ten households with down payment and closing cost assistance to purchase their first home. Although there are no unit goals for public services, support of public services is considered a high priority. Through CDBG funds, Plymouth has supported family services, youth services, and transportation services for seniors, disabled and low-income residents. Given the limited amount of CDBG funding that can be allocated to public service sub -categories, the City was not able to support any neighborhood" revitalization services or financial assistance and services at senior centers. Hennepin County, as the lead agency responsible for the development of the Consolidated Plan has overall responsibility for the housing and community development needs profile which include elderly and physically disabled renters, physically disabled first time homebuyers, and housing for persons with special needs targeting frail elderly, chemically dependent, mentally ill, and persons with HIVIAIDS. While the City has made no progress in these areas, the City has worked with the Consortium as a whole to accomplish the goals as set out in the five-year strategic plan and an annual action plan. The Consolidated Plan accomplishments also relate to HRA and City housing goals. In the HRA's 2010 Action Plan, which is required to track compliance with the 5 -year Consolidated Plan goals, there are four result areas. In 2010, CDBG funded activities were addressed in all four of these strategies, these included: Affordable Housing Rehabilitation of Private Property First Time Homebuyer Assistance Public Services In the City of Plymouth's Comprehensive Plan, there are 19 implementation strategies included in the Housing Plan. In 2010, CDBG funded activities addressed six of these strategies, these included: Regulatory Barriers to Affordable Housing. Make recommendations on changes to zoning, subdivision and other code requirements. Financial Support and Technical Assistance for Maintenance and Development of Affordable Housing Financial Support for Existing Low and Moderate Income Rental Housing Long Term Affordability Livability of Housing and Neighborhoods Fair Housing HUD requires at least two public meetings be held each year to provide opportunities for residents and interested representatives of local organizations to be involved in reviewing program activities, the local needs of low and moderate -income persons and proposed uses for CDBG funds. The first public meeting will be advertised and held in coordination with the Hennepin County Consortium on Tuesday, August 23, 2011. Any comments received at the hearing will be submitted to HUD. The second meeting will be a public hearing held in February 2012 to obtain public comment on proposed activities for the next year's CDBG funding. RECOMMENDATION: I recommend that the Housing and Redevelopment Board of Commissioners approve submission of the 2010 Summary of Consolidated Plan Projects to the City Council and recommend that it be submitted to the Department of Housing and Urban Development, ATTACHMENTS: 2010 CDBG Consolidated Annual Performance and Evaluation Report Consolidated Annual Performance and Evaluation Report City of Plymouth, Minnesota for CDBG Program Year 2010 Reporting Period; July 1, 2010 - June 30, 2011 TABLE OF CONTENTS 1. Annual Performance Narratives 1, Executive Summary 2. Assessment of Five -Year Goals and Objectives 3. Affirmatively Furthering Fair Housing 4. Affordable Housing 5. Continuum of Care 6. Other Actions 7. Leveraging Resources S. Grantee Self -Evaluation II. Citizen Participation III. CDBG Program 1. Assessment of Approved Activities to Priorities and Objectives of Approved Plans 2. Analysis of Distribution of CDBG Funds Among Consolidated Plan Needs 3. Reasons for Possible Changes to Program Objectives 4. Assessment of Consolidated Plan Implementation 5. Meeting National Objective Goals 6. Displacement and Relocation of Real Property 7. Economic Development Activities 8. Rehabilitation Activities 9. Annual Housing Completion Goals 10. Financial Summary (C04PR26) IV. IDIS Reports 1. Summary of Accomplishments Report (C04PR23) 2. Summary of Consolidated Plan (C04PR06) 3. Activity Summary CDBG Program (C04PR03) 1 I. ANNUAL PERFORMANCE NARRATIVES 1. Executive Summary The City of Plymouth is the recipient of Community Development Block Grant (CDBG) entitlement funds through the U.S. Department of Housing and Urban Development (HUD). These funds are allocated and expended for activities benefiting City of Plymouth residents. HUD requires the submission of an annual performance report of this program. The following is an overview of accomplishments for the most current reporting period of July 1, 2010 - June 30, 2011. This is the first reporting period under the 2010-2014 Consolidated Plan. Table A illustrates CDBG program resources allocated by the City of Plymouth in program year 2010. Table A. PIvmouth CDBG ProLyram — Allocation of Resources 2010 HRA Programs Housing Rehabilitation Program Housing rehabilitation loans 85,527.00 First Time Homebuyer Program First time homebuyer loans 85,527.00 General Program Administration Administration 24,235.00 Affordable Housing Development Assisted housing activities 30,000.00 Fair Housing Activities Further fair housing 5,000.00 Public Service Programs Community Action for Suburban Hennepin (CAPSH) Homeownership counseling, tenant counseling and education 20,000.00 Family Hope Services Youth counseling 10,000.00 Home Line Tenant hotline 8,000.00 Point Northwest of YMCA Homelessness prevention and youth counseling 8,000.00 People Responding in Social Ministry PRISM) Transportation services 3,500.00 SCS — Senior Community Services Home maintenance for seniors 4,465.00 TOTAL 284,254.00 2 2. Assessment of Five -Year Goals and Objectives The following identifies for each Consolidated Plan section, the goals, strategies, program year accomplishments, and the cumulative five-year accomplishments. Table B provides a comparison of performance against Five -Year Goals. The Five -Year Goals represent the goals defined in the Consolidated Plan for the entire Hennepin County Consortium. The Program Year and Five -Year Accomplishments represent the accomplishments of the City of Plymouth. Plymouth is one of the five CDBG entitlement jurisdictions in this group of 43 suburban communities. Further explanation of performance is contained in the narrative for each Plan section. Table B. Plvmouth Housine- Performance 2010-2014 Against Five -Year Goals HOUSEHOLDS TO BE PRIORITY FIVE-YEAR PROGRAM FIVE-YEAR ASSISTED UNIT GOALS YEAR ACCOMPLISH- ACCOMPLISH- MENTS MENTS Renters Small Family, Unrelated High <50% MFI 505 units Large Family High <50% WI 79 units Elderly High <50% MFI 100 units Owners Existing Homeowners Housing Rehabilitation High <50% MFT 1,600 units 6 6 Physically disabled High <80% MFI 266 households First Time Homebuyers Homeownership Assistance High <90%MPI 1,958 households 5 5 Physically Disabled High <80% MFI 8 households Homeless Persons Prevention & Housing Services Use Continuum 500 persons See Ilennepin See Hennepin of Care County Report County Report Housing unitsfbeds High <30% MFI 355 units/beds Persons with Special bleeds Frail Elderly Medium 25 units/beds Chemically Dependent Law 25 unitslbcds Mentally Ill High <50% WI 50 units/beds Developmentally Disabled Medium 25 units/beds Physically Disabled High <50% MFI 25 units/beds Persons with HIV/AIDS Low 25 units/beds Family Services (people served) Emergency Assistance High <90% MFI 26,000 Homeownership Training High <80% MFI 1,500 25 25 Mortgage Foreclosure Prevention High <80% MFI 1,000 36 36 Tenant Advocacy High <80% MFI 5,000 223 223 Homeless Prevention & Housing Svc High <50% MFI 1,500 Senior Services (people served) Home Maintenance and Chores High <80% MFI 6,700 23 23 Services at Senior Centers High <80%MFI 159,000 Financial Assistance High <80% MFI 175 Youth Services (people served) Recreational and Park Programs High <80% MFI 400 Criminal Justice Intervention High <90% MFI 600 Outreach homeless/Runaway Youth High <90% MFI 500 63 63 Group Counseling to At -risk Youth High <80% MFI 1,000 364 364 Neighborhood Revitalization Acquisition for Rehab/Clearance High <80% MFI 5 Transportation Services Rides: Seniors, Disabled & Low Income High <80% MFI 4,500 565 565 3 Small Family, Unrelated Individuals, and Large Family Renters Five -Year Goals: Develop 235 units of new affordable rental units for small families over the next five years. Develop 41 new rental units for large families over the next five years. Strategies: Target the use of anticipated resources for the development of additional affordable rental housing for households with income below 50 percent of median income, particularly households with income below 30 percent of median income. Support efforts to address barriers to the wider use of Housing Choice Vouchers. Support use of anticipated resources for the preservation of existing assisted rental housing. Acquire single-family homes for publicly owned rental units. Rehabilitate/convert smaller apartments into units with three or more bedrooms. Construct new units with three or more bedrooms. 2010 Program Year Accomplishments/Five-Year Accomplishments: No new housing for renters was produced with CDBG assistance. Section 8 Housing Choice Voucher Program The City continues to operate a Section 8 Housing Choice Voucher program. Currently the Plymouth HRA has funding for 225 vouchers and as of June 30, 2011 there were another 154 voucher holders residing in Plymouth who ported in from other jurisdictions. Plymouth also has thirteen project -based Section 8 vouchers; eight at Stone Creek Apartments and five at Vicksburg Commons Townhomes, The HRA also approved seven additional project -based Section 8 vouchers for West View Estates in 2010. This rental community is currently under construction. There are four Metro Housing Opportunity Program (MHDP) units at the Stone Creek Apartment complex and two Metro Housing Opportunity Program (MHOP) units at Shenandoah Woods Apartment complex. The City of Plymouth engages in a broad array of activities to identify and assist low income renter households. These activities include working closely with our Section 8 staff, our housing code enforcement staff and providing information to Plymouth residents about programs available to assist them through news letters, our City web page and a local government television channel. These efforts do not only target low-income renter households, but the entire population of the City. We work closely with our social service subgrantees in identifying households that are in need of assistance and due to being low-income, have very few options. Some of these efforts are handled outside of the CDBG program. For example, the City provides 340,000 annually to provide rental assistance to two senior apartment buildings owned by the HRA. We also work with the entire Hennepin Consortium to address "worst -case -needs". 4ffordable Housing Development No new affordable housing development was produced with CDBG assistance. The City did provide six hundred thousand dollars to assist with the development of 67 units of workforce housing and two million dollars to assist with 64 units of workforce housing during the 2010 program year, The 67 unit facility is under construction and the 64 unit facility is seeking additional financing. Elderly Renters Five -Year Goals: Increase the supply of new, affordable elderly housing by 100 units over the next five years. 0 Preserve existing affordable rental housing that is eligible for HUD mortgage pre -payment and/or to opt -out of the Section 8 rental assistance program. Strategies: Seek opportunities for development of new affordable senior housing as part of neighborhood redevelopment initiatives and seek opportunities for intergenerational housing. Use available resources to assist the development of HUD Section 202 housing through land acquisition, site improvements and other eligible appropriate ways. 2010 Program Year Accomplishments/Five-Year Accomplishments: No new housing for elderly renters was produced with CDBG assistance. The City of Plymouth continues to own and operate two subsidized senior rental communities with local financing. Plymouth Towne Square provides 97 affordable rental -housing units. Vicksburg Crossing provides 34 low income and 62 moderate income units for a total of 96 affordable units. During the 2010 Program Year, the Plymouth HRA provided three hundred forty thousand dollars to support these two buildings Physically Disabled Renters Five -Year Goals: Develop 25 new accessible rental units using anticipated Section 811 resources. Strategies: Affirmatively further fair housing by facilitating enforcement of the ADA, which prohibits discrimination against people with disabilities in rental housing. Encourage use of the universal design concept that incorporates elements of accessibility into standard housing designs. Assure accessible and adaptable design is incorporated into new rental housing units supported with HOME and CDBG funding. Encourage making accessible housing part of the program criterion of the Livable Communities Act, which promotes the dual concepts of affordable and life cycle housing. 2010 Program Year Accomplishments/Five-Year Accomplishments: No new housing for disabled renters was produced with CDBG assistance. Existing Homeowners Five -Year Goals: Use CDBG funding to alleviate substandard housing conditions for 1,600 extremely low and low-income homeowners over the next five years. Strategies: Maximize the delivery of assistance to eligible households with resources available from the urban Hennepin County CDBG Program, City of Plymouth's CDBG Program, City of Bloomington's CDBG Program, City of Minnetonka's CDBG Program, City of Eden Prairie's CDBG Program, and the Minnesota Housing Finance Agency Deferred, Revolving and various rehabilitation programs. Where possible, review and amend existing programs to reflect the changing rehabilitation environment. Establish priorities for the delivery of rehabilitation funds and ensure that these funds are promptly expended. 5 Help prevent mortgage foreclosure, through funding of mortgage foreclosure prevention services and other supportive services, to address contributing factors. 2010 Program Year Accomplishments/Five-Year Accomplishments: Provided two households with residential rehabilitation assistance through the City of Plymouth's CDBG Program. Provided four households with emergency small repair grant funds through the City of Plymouth's CDBG Program. The Housing Rehabilitation Program has run continuously since its first loan in 1975. There are currently 72 outstanding loans with a principal balance of $830,701.00. There were no rehabilitation loans forgiven or written off due to defaults during the 2010 grant year. During the 2010 grant year, six projects were completed; four of which was an Emergency Repair Grant. Four additional projects have been approved and have work in progress. A total of $83,616.10 was expended through June 30, 2011. A total of $11,249.40 of program income was received through June 30, 2011. In addition to the funds spent during the program year, approximately $65,000.00 has been committed through work contracts in progress. The City of Plymouth has designated a percent of funds allocated for housing rehabilitation to be used for a Small Repair Grant Program. The City of Plymouth funds this program and the work is performed by either the City of Plymouth or Senior Community Services. During the 2009 CDBG grant year 21 homeowners in Plymouth received MHFA financed home improvement/rehabilitation loans through the Fix -Up Fund in the total amount of $285,253.00. Existing Homeowners with Physically Disabled Family Members Five -Year Goals: Assist 266 households with accessibility improvements. Strategies: Provide accessibility improvements using anticipated housing rehabilitation resources. Continue county participation in the State of Minnesota Medical Assistance Home and Community Based Waiver Programs to provide funding for disabled low-income individuals to modify their housing for accessibility and allow them to remain in their home. Encourage use of the universal design concept that incorporates an element of accessibility into standard housing designs. Support accessible housing as part of the program criterion of the Livable Communities Act, that promotes the dual concepts of affordable and life cycle housing. 2010 Program Year Accomplishments/Five-Year Accomplishments: Assisted two group homes that serve eight developmentally disabled adults; installed a water line, fire sprinkler system, fire panel and alarm system in one home and installed energy efficient windows in the other home. First Time Homebuyers Five -Year Goals: Provide 1,958 families/households with first mortgage, affordability gaps, down payment and closing costs assistance. Develop eight units of fully accessible, owner -occupied affordable housing. 0 Strategies: Use Minnesota Housing Finance Agency homebuyer programs as the primary resource to assist moderate -income first-time homebuyers. Affirmatively further fair housing through targeted housing outreach, homebuyer training and financial assistance to communities of color. Incorporate opportunities for new affordable housing in CDBG-funded neighborhood revitalization activities (scattered -site and area redevelopment). Provide funding to non -profits and Community Housing Development Organizations CHDO) to assist first-time homebuyers through a combination of homebuyer training, down payment assistance, below-market interest rates, and purchase/rehabilitation programs. 2010 Program Year Ace omplishments/Five-Year Accomplishments: Provided five first-time homebuyers with financial assistance through zero -interest, deferred loans for down payment, closing costs and/or mortgage principle reduction through the City of Plymouth's CDBG Program. Assisted ten first time homebuyers purchase homes in Plymouth with lower interest mortgage financing through one of MHFA's first mortgage programs. Eight of the homeowners also received down payment or monthly payment assistance through the MHFA's Homeownership Assistance Fund (HAF) and Hoene Help programs. The first time homebuyer program has run continuously since its first loan in 1986. There are currently 102 outstanding loans with a principal balance of $1,711,049.00. There was one first time homebuyer loan forgiven or written off due to defaults during the 2010 grant year. During the 2010 grant year, there were five homebuyers who received direct assistance through the CDBG funded program. A total of $91,476.93 was expended through June 30, 2011. The CDBG program did not generate any program income over the last 12 -month period. Since 1995 the HRA has successfully combined this assistance with programs sponsored by the Minnesota Housing Finance Agency (MHFA), such as the MHFA Community Activity Set - Aside (CASA) Program, Minnesota City Participation Program (MCPP), and Minnesota Mortgage Program (MMP). Since 1998, the City has been a part of consortium headed by Urban Hennepin County to access MCPP funding. MMP is available statewide on a pipeline basis as well. The HRA provides information and referrals to appropriate MHFA mortgage programs and assists in coordinating the various programs. Ten households were able to use $1,258,040 of MHFA's lower interest rate first mortgage financing in Plymouth during the 2010 grant year. Four of these homebuyers also received a total of $15,000 in down payment or monthly payment assistance in the form of a second mortgage through MHFA's Homeownership Assistance Fund (HAF). Additionally, four of these homebuyers also received a total of $45,000 through Home Help loans. The most challenging aspect of utilizing the first time homebuyer programs is the high cost of single family housing in Plymouth. The 2010 Assessors records show that the average sales price of existing single family detached housing in Plymouth was $338,900.00, which is well out of the reach for low and moderate -income households. Another limiting factor in use of the MHFA first mortgage programs is the maximum purchase price of $298,125.00 for existing housing and new construction; including single family detached homes. While the CDBG program hinds do not have this price limitation, potential Plymouth homebuyers still face the very serious shortage of homes priced at an affordable level. 7 However, due to the current continued decline in home values, we are anticipating that activity in this program will be strong. In addition to the traditional listings, many buyers are taking advantage of foreclosures, short sales and bank owned homes as well. Homelessness Five -Year Goals: Assist in the development of 355 units, including 11 shelter beds and transitional units with supportive services. Strategies: Target development of shelter beds and transitional units with support services. 2010 Program Year Accomplishments/Five-Year Accomplishments: Accomplishments to the Continuum of Care are detailed in Hennepin County's Annual Performance Report. Housing for Persons with Special Needs Five -Year Goals: Frail Elderly Provide 25 new supportive housing units over five years for frail elderly. Persons with Alcohol/Other Drug Abuse Problems. Provide 25 new rental units. Persons with Mental Illness Provide 50 new supportive rental units. Persons with Developmental Disabilities Provide 25 supportive and semi-independent new rental living units. Persons with Physical Disabilities Provide 25 new accessible rental units using anticipated Section 811 resources. Personas with HIV/AIDS Provide 25 new supportive living units/beds for families and single adults. Strategies: Elderly Facilitate the development of supportive housing for very low-income, frail elderly through a combination of assisted rental, rehabilitation of existing units and new construction using federal, state and local resources. Coordinate capital funding with public and private service providers when appropriate. Persons with Alcohol/Other Drug Abuse Problems Support county efforts in working toward community expansion of sober, supportive housing models in conjunction with outpatient treatment, thereby increasing service flexibility while at the same time containing costs. Continue participation in the County Department of Human Services Chemical Dependency Restructuring effort, which is expected to establish a mechanism for providing supportive housing options as part of an overall treatment plan. Support efforts of public and private nonprofit organizations to access available federal, state, and local funding to meet the housing needs of this population. Persons with Mental Illness Facilitate the development of a range of affordable housing options using various models with support services for persons with serious and persistent mental illness, consistent with the housing development and support strategies identified by the Hennepin County Human Services and community partners, including but not limited to: single room occupancy apartments, assisted living arrangements, and controlled access buildings. The housing should be the least restrictive and in the most integrated setting consistent with the person's health, safety and service needs. Encourage use of the Publicly Owned Transitional Housing Program as a development resource (a MHFA Program). Support development of "practice apartments" to give people a chance to learn in a "real life" situation without jeopardizing their rental history and for mental health services to realistically assess service needs. Support development of a Corporate Adult Foster model for persons with serious and persistent mental illness. Facilitate homeownership initiatives among mental health and housing agencies and organizations. Persons with Developmental Disabilities Facilitate the development and maintenance of semi-independent and supportive living units through a combination of new construction, rental assistance and rehabilitation, using available federal, state, and local resources. Support the efforts of local HRAs and public and private nonprofit organizations to access available federal, state, and local funding to meet the housing needs of this population. Persons with Physical Disabilities Further fair housing by facilitating enforcement of the Americans with Disabilities Act, which prohibits discrimination against people with disabilities in rental housing. Encourage use of the universal design concept that incorporates elements of accessibility into standard housing designs. Encourage making accessible housing part of the program criterion of the Livable Communities Act, which promotes the dual concepts of affordable and life cycle housing. Assure that accessible and adaptable design is incorporated into new rental housing units supported with HOME and CDBG funding. Persons with 11MAIDS Support the recommendations for permanent and supportive housing strategies, (1) stabilize funding for adult foster care and supportive housing programs, and (2) promote flexibility in funding for capital projects. Support use of resources toward meeting the goals and priorities for this population, as identified in the Hennepin County Continuum of Care for the Homeless. 2010 Program Year Accomplishments/Five-Year Accomplishments: No CDBG funds were expended towards housing for persons with special needs. Family Services/Facilities Five -Year Goals: Provide emergency assistance services to 26,000 persons. Provide home ownership training for first-time homebuyers for 1,500 households. Provide mortgage foreclosure prevention services to 1,000 households. Provide tenant advocacy and tenant hotline services to 5,000 persons. Provide homelessness prevention and rapid -exit from shelter services to 1,500 persons in families. 9 Strategies: Support childcare providers to ensure families have access to quality and affordable child care services. Support early interventions and counseling services to assist in the resettlement of persons in refugee families. Support emergency assistance services and outreach and referral services for domestic violence assistance and health, housing, and financial issues. Support housing counseling, including mortgage foreclosure prevention services, tenant advocacy and tenant hotline services. 2010 Program Year Accomplishments/Five-Year Accomplishments: Provided mortgage foreclosure prevention services to 36 households. Provided tenant advocacy and tenant hotline services to 223 households. Community Action Partnership of Suburban Hennepin (CAPSH) The HRA provided funding for this non-profit agency in the 2010 program year in the amount of 20,000.00. CAPSH provided several programs for Plymouth residents, including first-time homebuyer workshops and counseling, mortgage foreclosure prevention counseling, home rehabilitation and maintenance assistance and reverse mortgage counseling services. In 2010, 72 unduplicated households were assisted. Home .Line The HRA provided funding for this non-profit agency in the 2010 program year in the amount of 8,000.00. Home Line provided a tenant hotline for Plymouth residents. In 2010, the Tenant Hotline took 223 unduplicated calls from Plymouth households. Senior Services/Facilities Five -Year Goals: Provide home maintenance and chore services to 6,700 households. Provide operating funds to senior centers serving approximately 159,000 seniors annually. Provide financial assistance to address home health care needs for 175 low-income seniors. Provide transportation services to 4,500 seniors and disabled persons. Support senior center services and programs, modifications to incorporate new services, such as meal programs, and to improve access by the physically disabled. Strategies: Support local nonprofit agencies to address senior service needs, particularly those that promote self-sufficiency. Support development of new or expanded senior center facilities where needed. 2010 Program Year Accomplishments/Five-Year Accomplishments: Provided outside home maintenance and chore services for the elderly to 23 households. Senior Community Services (SCS) The HRA provided funding for this non-profit agency in the 2010 program year in the amount of 4,465.00. SCS provided outside home maintenance for Plymouth residents through their household and outside maintenance for the elderly program (H.O.M.E.). In 2010, SCS provided services to 23 unduplicated Plymouth households. 10 Youth Services/Facilities Five -Year Goals: Encourage communities to work with the local schools, social service agencies, businesses and other organizations to implement apprenticeship, educational, and recreational programs. Provide recreational and summer park programs to 400 youth in low and moderate -income neighborhoods. Provide criminal justice intervention services to 600 youth. Provide outreach and intervention services to 500 homeless and/or runaway youth, and their families. Provide support group counseling services to 1,000 at -risk youth. Strategies: Target funding to recreational programs for youth, criminal justice/youth diversion programs, school completion/truancy prevention, and summer youth programs. Particular priority should be given to services directed to large multifamily housing developments and other areas where there are concentrations of lower-income households. Support outreach and intervention services, particularly to homeless and runaway youth and youth at risk. Support services addressing the needs facing immigrant and refugee youth, as well as the potential of these youth to assist their families in assimilating to their new communities. 2010 Program Year Accomplishments/Five-Year Accomplishments: Provided outreach and intervention services to 63 homeless, runaway, and at -risk youth, and their families. Provided support for group counseling services to 364 at -risk youth. YMCA Point Northwest for Runaway Youth The HRA committed $5,000.00 in 2010 funds to the Point Northwest program. This program serves youth who are experiencing homelessness or are at risk of homelessness. Intervention and counseling services are available 24 hours a day, 7 days a week. During the 2010 program year, this program served 63 low-income youth. Family Hope Services Family Hope provides year round support and services for at risk youth through structured programs, support groups, and mentoring relationships. Plymouth provided Family Hope with 5,000.00 in 2010 CDBG funding. The agency provided services to 364 youth with an address in Plymouth. Of those 364, 310 attended support group more than one time and the average number of support groups attended was 24. Neighborhood Revitalization Five -Year- Goals: Use CDBG funds to acquire five properties for rehabilitation or clearance in scattered -site and designated redevelopment areas. Provide affordable housing opportunities for a minimum of 20 percent of all housing units created in CDBG assisted redevelopment activities. Improve existing and/or provide new public facilities including senior facilities, as appropriate, to benefit low and moderate -income neighborhoods and persons. Assist street, road and water/sewer improvements when benefit is to low and moderate - income neighborhoods. 11 Investigate the potential of Brownfield clean up to provide sites for public facilities, economic and housing development, and/or other purposes. Strategies: Address blight through scattered -site and designated area redevelopment activities. Support the incorporation of public facility and infrastructure improvements, such as a park or playground, in revitalization of low/moderate-income neighborhoods. Designate a minimum percentage of housing created through CDBG assisted redevelopment for housing affordable to low and moderate -income households. Support the investigation of underutilized and Brownfield sites to identify appropriate reuse/remediation potential. Support the use of CDBG funds to leverage other federal, state, local and private program funds to address neighborhood revitalization needs. 2010 Program Year Accomplishments/Five-Year Accomplishments: No CDBG funds were expended contributing to neighborhood revitalization. Transportation Services Five -Year Goals: Services to seniors, persons with special needs, and low-income families and individuals, especially in addressing inter- and intra- suburban needs in outer -ring communities. Provide rides to 4,500 seniors, disabled and low-income persons. Strategies: Support the provision of transportation services to seniors, persons with special needs, and low-income families and individuals. Encourage the development of appropriate specialized transportation services, particularly in outer -ring communities. Encourage alternative approaches to address inter- and intra -suburban transportation needs. 2010 Program Year Accomplishments/Five-Year Accomplishments: Provided 565 one-way rides to low and moderate -income residents of Plymouth. People Responding in Social Ministry (PRISM) PRISM provides year round transportation services for Plymouth residents. Plymouth provided PRISM with $3,500.00 in 2010 CDBG funding. During the 2010 grant year, the agency served 55 low and moderate -income Plymouth residents by providing 565 one-way rides. 3. Affirmatively Furthering Fair Housing Plymouth provides Rehabilitation and First Time Homebuyer loans to person living within the city limits. The Programs are open to all who apply as per Fair Housing Act requirements. During the 2010 program year $5,000.00 of the city's funding supported the Metro -wide Consortium's Fair Housing Initiative (FHIC) as described on page 12 of the CDBG CAPER. This Consortium is separate fiom Hennepin County's Consortium Fair Housing Initiative. Plymouth also participates in the Hennepin County Consortium Fair Housing Initiative and CDBG funds are provided toward this effort. Please refer to the attached section of the CAPER that describes the Consortium's accomplishments of fair housing impediments. This section 12 describes the 15 impediments prioritized by the Consortium and describes actions through report year 2010 to address each. 4. Affordable Housing Performance The City of Plymouth has used all 2010 program year funds to assist households at or below 80% of median income, as defined by HUD. Table C details the number of households assisted by type of residency and income category for CDBG assisted housing activities. Table C. Characteristic of Households Served durinrr 2010 CDBG ProLyram Year Activity Extremely Low Low Income Moderate Total Income (30% 50% MFI) Income (80% Households MFI) MFI Renter Owner Renter Owner Renter Owner Renter Owner Single Family 0 0 0 0 0 2 0 2 Rehabilitation Small Repair 0 0 0 0 0 4 0 4 Grant Group Home 0 0 2 0 0 0 2 0 Rehabilitation First Time 0 0 0 0 0 5 0 5 Homebuyer Homebuyer 8 0 4 0 13 0 25 0 Education Rehabilitation 0 1 0 0 0 0 0 0 Advisory Foreclosure 0 9 0 4 0 12 0 25 Prevention Tenant 149 0 52 0 22 0 223 0 Advocacy & Tenant Hotline Totals 157 10 58 4 35 23 250 T 36 5. Continuum of Care Accomplishments made to the Continuum of Care goals are addressed more extensively in the Hennepin County Consortium's Annual Performance Report. The strategy reflects housing and support services needed in each stage of the Continuum of Care including prevention, outreach assessment, emergency shelters, transitional housing, supportive housing and independent living. The City has worked extensively with other agencies to respond to homelessness issues. Programs through the Northwest YMCA and Family Hope Services, both CDBG sub -recipients, provide services such as crisis intervention, counseling, and assistance to homeless youth in Plymouth. The City has been represented on the Hennepin County Taskforce on the Homeless to express suburban concerns regarding services for the homeless. The Taskforce completed its work in late 2006 and issued its report "Heading Home Hennepin Plan to End Homelessness". The report recommendations are being implemented through a structure that includes various committees organized around key goals. The City of Plymouth has attended some committee meetings. 13 6. Other Actions The following is a summary of accomplishments made to other actions described in the Consolidated Plan. Obstacles to serving under -served needs: The most significant obstacles are the high cost of acquiring property in the City, the limited availability of land suitable for development, and the lack of adequate funding experienced in most communities. The City has recently updated its Comprehensive Plan and has incorporated strategies to reduce obstacles to the development of affordable life -cycle housing. Foster and maintain affordable housing: The City's rental housing licensing program is one example of how the city maintains affordable housing. This program requires property owners to do essential corrective repairs in a timely fashion. City staff also meets with non- profit affordable housing advocates on various issues to promote and maintain affordable housing. City staff has worked with developers and property owners to make application to appropriate agencies and lenders for funding to maintain or to produce affordable housing. Eliminate barriers to affordable housing: The most significant barriers are the high cost of acquiring property in the City, the limited availability of land suitable for development, the lack of adequate funding experienced in most communities and the strong market demand for higher cost housing in the City. The City's Comprehensive Plan includes strategies for the elimination of obstacles to the development of affordable life -cycle housing. During the 2005 program year the City Planning Department reviewed regulatory policies related to affordable housing. The Comprehensive Plan update was completed in 2009. Since the adoption of the 2009 Comprehensive Plan, the City has adopted a new guide plan category that allows for higher density residential development which allows for greater opportunities in affordable housing development. The City has approved one development under this new guiding that has 64 affordable units. Overcome gaps in institutional structures: The City does not face significant gaps in the institutional structures in the community, however there are state and/or federal regulations, taxing policies and processes that hamper affordable housing. The MHFA housing program maximum purchase price requirement for first time homebuyer applicants (determined by the federal government) has been a limiting factor in the use of this program. In 2010, the maximum purchase price was remained at $298,125.00 for existing housing and new construction; however, it is still below the average sales price of $338,900.00 in Plymouth. Deduce Poverty: Through its various programs, the City of Plymouth identifies and assists people and families that are below the poverty level when possible. We utilize our network of social service agencies and where applicable assist them through CDSG resources and programs as well as local programs offered through the City of Plymouth, the Plymouth HRA and local non -profits. Improve public housing and resident initiatives: The City has no federal public housing. However, the Plymouth HRA has two resident advisory boards, one for its Section 8 Housing Choice Voucher program and a second for its locally financed 97 unit subsidized senior housing development. The Section 8 Resident Advisory committee advises the HRA on policy development and review. Plymouth Towne Square, opened for occupancy in 1994, has a residents' council that advises the HRA on management and resident services. Evaluate and reduce Lead-based paint hazards: As part of the City's Rental Housing Licensing program over 10% of the rental units are inspected annually. The inspector has satisfied HUD's Risk Assessment Course and is a Certified Risk Assessor. All participants in the Housing Rehabilitation, First Time Homebuyer and Section 8 Programs, who reside or purchase housing that was built before 1978, receive copies of "Protect Your Family From Lead In Your Horne", EPA September 2001. The Plymouth HRA has revised the procedures 14 for all federally funded programs to meet the requirements of the new federal lead-based paint regulations, which took effect on September 15, 2000. Discussion of the Lead Based Paint (LBP) requirements take place at the initial meeting with HRA staff and the Certification of Receipt of LBP information is signed by the applicant and kept in the applicant's file. If deteriorated paint is found in a home built before 1978 and lead hazard reduction work may be needed because painted surfaces will be disturbed during rehab, the appropriate level of lead testing and other actions are initiated. The HRA contracts with a certified Risk Assessor to perform the necessary tests to determine if and where there is a lead hazard risk. The Assessment report identifies the presence and location of LBP and the areas that need to be addressed. If LBP is found, the homeowner is notified. As a condition of receiving funding, LBP hazards must be addressed and lead safe work practices are required for all rehab work that disturbs painted surfaces. Appropriate lead hazard reduction measures are also incorporated into the Scope of Improvements. Clearance of the unit is required and a copy of the clearance report is given to the homeowner and kept in the homeowner's file. The above lead-based paint control actions enable the City of Plymouth to abate lead issues and be in full compliance with the Federal Lead -Based Paint rules. The City refers suspected cases of lead-based paint poisoning to the Hennepin County Health Department. Ensure compliance with program and comprehensive planning requirements: Contractual agreements are established with all grantees receiving CDBG funding. City staff also makes annual monitoring visits to the offices of all subgrantees. 7. Leveraged Resources/ Other Local and Federal Resources The Plymouth HRA committed an additional $24,000 to assist in keeping the rents low at Vicksburg Crossing, one of the HRA owned senior buildings. These funds provide benefits to low and moderate -income residents living in the building. The City committed 2.6 million dollars toward the creation of 131 units of affordable housing. 8. Grantee Self -Evaluation The City receives a small CDBG allocation and realizes that the housing and community development needs of the City are growing. The City has been persistent in using CDBG and local funds to the maximum capacity. The following is a self-evaluation of the City's progress made towards the Consolidated Plan goals. Rental Households: The City has used its Section 8 tenant -based voucher program to maintain affordable housing for low-income households in the existing market. The City has worked hard to retain and recruit landlord participation in this program. The City's success is shown through the large number of families who use the portability provision of their voucher to locate housing in Plymouth. The City has also made significant efforts to incorporate affordable units in new rental communities proposed in the City, even though extremely low vacancy rates and high market rents have existed. The City continues to pursue local and state resources to make this an easier and beneficial alternative for property managers and owners. The City of Plymouth continues to actively participate in the Property Managers Association. This group, which meets quarterly to discuss effective management techniques for rental properties, includes property managers and city officials in the communities of New Hope, Plymouth, Robbinsdale and Crystal. 15 In addition, the City of Plymouth's Police Department operates the Crime Free Multi - Housing (CFMH) program, which establishes a partnership between the Police Department and rental property managers. CFMH helps tenants, owners and managers keep drugs and illegal activity out of rental properties. Owner Households: The City continues to operate its rehabilitation and first time homebuyer loan programs. These programs have received a tremendous amount of interest from local homeowners and potential buyers. Homeless Households: The City continues to work through the Hennepin County Continuum of Care to address homelessness issues. The City also funds programs through the Northwest YMCA and Family Hope Services that provide services and counseling to homeless and runaway youth and youth at -risk for homelessness. In addition, the City of Plymouth continues to support Interfaith Outreach and Community Partners (IOCP) primary fundraising campaign to raise money for affordable housing assistance. The Sleep -Out Campaign raised $1,296,559.00 for affordable housing assistance in 2010. The City of Plymouth contributed to this campaign through local fund-raising efforts and direct contributions. Housing for Special Needs: The City has concentrated its resources on assisting housing for developmentally disabled adults. The City has provided funding to Hammer Residences over a number of years to perform accessibility modifications to group homes enabling the residents of these homes to make full use of all living spaces. Public Services: The City has tried to stretch the amount of CDBG funds allocated for public services as far as possible while addressing all identified public service needs. The City has continued to monitor its subrecipients to ensure the best possible use of funds. Recognizing that the CDBG funding is limited, the City has made additional resources available to public service providers. Table D identifies the other resources made available during this reporting period. Table D. Other Citv Resources Provided Durina 2010 Program Year Agency Funding PRISM 12,600.00 Interfaith Outreach 18,552.00 Interfaith Outreach -- CONECT 9,090.00 Community Mediation Services, Inc. 3,690.00 Home Free Shelter 29,700.00 Teens Alone 1,800.00 Communities in Collaboration 5,298.00 Senior Community Services 13,050.00 Senior Community Services - HOME 5,670.00 Reach 10,000.00 Total 109,450.00 II. CITIZE, N PARTICIPATION The public hearing and comment period for this report is included in public hearing held by Hennepin County Consortium. This report is being submitted to Hennepin County prior to the comment period; therefore, no comments have been received to date. 16 The following reports are available to the public and have been previously submitted to HUD at this time: 2010-2014 Hennepin County Consortium Consolidated Plan 2010 City of Plymouth Action Plan Regional Analysis of Impediments to Fair Housing, October 2009 III. CDBG PROGRAM The main tool used by the City of Plymouth for carrying out the objectives identified in the Consolidated Plan is CDBG funds. The Plymouth Housing and Redevelopment Authority HRA) is responsible for administering the Federal Government's Community Block Grant Program for the City of Plymouth. In 2010, the City of Plymouth was awarded a total of 284,254,00. 1. Assessment of Approved Activities to Priorities and Objectives of Approved Plans A detailed assessment of program year activities to Consolidated Plan priorities and objectives is found in Part I, Section 2 of this report. 2. Analysis of Distribution of CDBG Funds Among Consolidated Plan Needs Table E identifies the activities undertaken during the program year and the priority ranking as identified in the Consolidated Plan. Table F._ Annroved CDBG Activities and Ranking by Priority Level Activity Consolidated Plan Housing Rehabilitation High Affordable Housing Assistance High Family Services — Home Line High Family Services — CAPSH High Senior Services — SCS High Transportation Services - PRISM High Youth Services - Family Hope Services High Youth Services — YMCA High All of the approved activities are in the highest priority group. CDBG funding is limited, therefore only a few activities can be undertaken in any given year. The HRA has also found that limiting the number of activities assisted is a more efficient and cost effective use of CDBG funding for delivery of services to residents. 3. Reasons for Possible Changes in Program Objectives There are no plans for changing any of the current program objectives. 4. Assessment of Consolidated Plan Implementation The City of Plymouth has pursued all resources that it indicated it would pursue. Further details on the use of federal, state, and local resources can be found in the available resources sections of this report. The City of Plymouth has provided all requested certifications of consistency for HUD programs in a fair and impartial manner. The City of Plymouth did not hinder implementation of the Consolidated Plan by action or willful inaction. 17 5. Meeting National Objective Goals The City of Plymouth has used all of its CDBG funds exclusively for one or more of the national objectives. The City is also in compliance with overall benefit certification. The percentage of funds, which apply to the overall benefit requirement, is located in the Financial Summary. 6. Displacement and Relocation of Real Property During the 2010 grant year, no CDBG funds were used for the displacement and relocation of real property. 7. Economic Development Activities During the 2010 grant year, no CDBG funds were used for job producing economic development activities. 18 8. Rehabilitation Activities REHABILITATION ACTIVITIES Summary of Consolidated Plan Projects Community Development Block Grant Program City of Plymouth, Minnesota 2010 Program Year (7/1/2010-6/30/2011) Note: All work expenditures were for single -unit housing activities only. 1. Staffing: Number of Staff Years 2 2. Current Program Year Expenditures: Activity delivery costs from CDBG funds $37,222.04 a. Staff costs: Amount expended in 1 above 0 Other direct costs (not included in 3) 0 3. Current Program Year Expenditures: For all projects (a+b+c below) $89,363.91 a. CDBG funds expended $89,363.91 b. Other public (Federal, state, local) funds expended 0 c. Private funds 0 4. Number of Units Committed for Rehabilitation 4 5. Obligations: Amount obligated but not expended for units committed to 4 above (a+b+c below) $ 65,000.00 a. CDBG funds obligated $ 65,000.00 b. Other public (Federal, state, local) funds obligated 0 c. Private funds obligat ed 0 6. Number of Units Completed 6 7. Cumulative Total (expended + obligated) $154,363.91 8. Progr am Income Received $ 11,249.40 9. Financial Summary (C04PR26) The Financial Summary report from IDIS for the 2010 program year follows. IV. IDIS REPORTS The following reports from HUD's Integrated Disbursement and Information System (IDIS) are attached: 1. Summary of Accomplishments C04PR23 2. Summary of Consolidated Plan C04PR06 3. Summary of CDBG Activities C04PR03 19 ANNUAL HOUSING COMPLETION GOALS Grantee Name: City of Plymouth Expected Annual Number of Units To Be Completed Actual Annual Number of Units Completed Resources used during the period Program Year: 2010 CDBG HOME ESG HOPWA ANNUAL AFFORDABLE HOUSING GOALS (SEC. 215) Homeless households NIA* Non -homeless households 11 11 X Special needs households 2 2 X ANNUAL AFFORDABLE RENTAL HOUSING GOALS (SEC. 215) Acquisition of existing units NIA Production of new units NIA Rehabilitation of existing units 2 2 X Rental Assistance NIA Total Sec. 215 Affordable Rental 2 2 X ANNUAL AFFORDABLE OWNER HOUSING GOALS (SEC. 215) Acquisition of existing units NIA Production of new units NIA Rehabilitation of existing units 6 6 X Homebuyer Assistance 5 5 X Total Sec. 215 Affordable Owner 11 11 X ANNUAL AFFORDABLE HOUSING GOALS SEC. 215 Acquisition of existing units NIA Production of new units NIA Rehabilitation of existing units 8 8 X Homebuyer Assistance 5 5 X Total Sec. 215 Affordable Housing 13 13 X ANNUAL HOUSING GOALS Annual Rental Housing Goal 2 2 X Annual Owner Housing Goal I 1 I I X Total Annual Housing Goal 13 13 X Included in the Hennepin County Consortium 2010 Action Plan Goals 20 z LU zCLwa OauL0 J Wj O C)rl z p LL' m co 7¢ EC,O 73 z Z Cl) z CD Z U zg a 20 ri O _ O z m LL D O U Z owU N LL a w a U w LLa C6 O Z o 0 0 0 0 0 0 Cl Cl Cl 0 1 Cl 0000000 r- 0 d r 0 0 0 0 dT 0 v po 000000 00 -0 - o a 0 0 0 0o v N O Nr 0 0 0 0 0 r co O CO N_ 00 W O O co O OcoC7 0 0 aU 2 N N h co h C7 Or- h h CD } N~ LO LO a O 0 a0 h N N N h m h r+ N C1 N N r a J a z qgILO O N CD O LU Z ° w Z a w z zCOON W 0 Os Z lY ° J U OLU Z ° O W ZO W (n z z LL W Q Z in U l-. ¢? 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C oad: 2 C g . Z 3r3 3 g 2 o I m CD E o a j 0 2 I :OF L: J 2 k d m z C d E t w CL E 0U MI 4 Q E L w E mc -- CL w m m CL v E U 0 a V a o CL m 0 } LO -t Co r^ O) ICl O M CO r O C co co EA EA EA Agenda Number SA PLYMOUTH HOUSING AND REDEVELOPMENT AUTHORITY STAFF REPORT TO: Plymouth Housing and Redevelopment Authority FROM: Jim Barnes, Housing Manager through Steve Juetten, Executive Director MEETING DATE: ,lune 23, 2011 SUBJECT; Oppidan Development -- Request for TIF assistance and Modification of TIF District 1-3 BACKGROUND: In October of 2006, The City Council approved the creation of Tax Increment Financing District 1-3 on behalf of the Plymouth Housing and Redevelopment Authority. This district was established at the request of Dove Development to facilitate the redevelopment of the Plymouth Shopping Center, which is located on Highway 55 just west of County Road 73 see attached Location Map). Dove's proposed development never made it past the approval stages for a variety of reasons including the economic down turn and the high cost of the site. The properties involved ultimately, went into foreclosure and Minnwest Bank took over the site. Over the past couple of gears, staff has met with a number of developers and the bank regarding possible development options. While some of these options came close, the developers never submitted an application for new development to the City. In the fall of 2010, Oppidan Development began discussions with the City about the possible redevelopment of the site. Staff has been working with Oppidan and the Bank to put together a redevelopment project that would fit with the surrounding area and enhance the site. y Oppidan has submitted a development application for the redevelopment of the site that would include a 4 -story senior assisted living facility, a McDonald's restaurant and a yet to be determined commercial/office use on approximately half of the site. The Planning Commission reviewed the plan at their July 6"' meeting and continued the matter to the July 20`x' meeting. The Planning Commission asked the developer to provide some additional studies on the proposed uses. Staff will provide an update of the July 20"' Planning Commission meeting to the Board the night of the HRA meeting. TAX INCREMENT FINANCING REQUEST: Oppidan has requested $2,034,800 in TIF to assist N ith the demolition and site improvements. Attached is the TIF application which details their request including the breakdown of the uses of TIF. Staff has also requested that an independent appraisal of the land be completed to verify the value. This appraisal will be provided to the Board at the meeting on July 21 S` Ehlers has completed a review of Oppidan's request and provided an initial TIF Assumptions report to determine the amount of increment that may be possible. As you can see on page 3 of the TIF run, the anticipated increment available to the developer would be 1,899.645. This is lower than their request and will most likely be adjusted as more detailed information becomes available. RECOMMENDATION: I recommend that the Plymouth Housing and Redevelopment Authority Board of Commissioners consider the tax increment financing request by Oppidan Development. ATTACHMENTS: 1, Location Map TIF Application 3. TIF PreliminaryAssumpt ions 4. TIF 1-3 Plan Modification a. Resolution w a 0 w 0 0 lwY¢ Od QWmZc w, wY ZFYUQ ¢ ¢ Wo fl agSgw O gy GSSQpp2g0g6 flq O Y¢ww00 ya u zQv 'o °ai wa? sav¢ z rc zf Yc2ii zam act'z iaz W'um w¢ ¢ivxiaz Qo3p}s5 W o.. 3 awmi73o¢ a " wozal¢irxa u~¢moqm `m " ¢w z U ¢JNY4aS3Q47 ai.Yq s ff w¢rr wox ca `w iw s¢w 4¢Qxa.JawiQ o o0m¢ w mnwxa b¢32zzjq WEQ2 z wwzb Up za Oa¢ mWorcww.-rcurc rca[J¢Zs vim vswb¢ a_ 'azrc ZSxzm4Nr3avuaQaQzsSx.-,_sx 5 e3>x S v aonozs x-,_xQ wuum¢H>x3> hrconozESx_xv woumas>x a wrroao eg $q, S oSaBSeaoaoS$gbS 80 0000BSaSeevo aaa aoSm 8 50TH60TH AVE. I SiTH AVE. -. 004, oil, Z,"rma M.. _; RNI 1 NRA TIF District 1-3 5TH AVE. AIUGEMGUHT AVE R IOGEMG 6$H- ___ _ _ o8,88 81.8922 mary<X tcey 60 3 22 T O..® 0920998 S$C. yTb A0 3r FSa SO Q ooXo KaaNAL 7fl2;o 2PO'ImQ[m rvK $$CCS b ; boa IC m TAS C C m OD-;nCAih3Z-'MZ".>flCTi - lZnZZ D 3 Z -Cm 22mCQCZF S ACmm 9Tlmit j f_'i D C Tyfl SF2OZp4O02bAT C Nm m TZ 2C.ZQm QF$C] GI R,.iZ Z Cf + n ZZ.; y9g02C ZK Qa.2 m < NFm-mtiy )b.tiA'- C12Tyy Dp SC$a 3V am Zs 2 OyrOm AS.-fri+OZ Zm rO10811 msti p0 yy,00a - N Q o=tiFSTA z OC]OG nmQgO OmC>AAQm mFOr 3'F000AOUF Oxm JtTCm0i0A0yn1mO0 T3;y m ZO 0 TQm o Om y 4] SA20 DS`C mcn SOgOmS Q QA OmmaO StrT OOTZnm y A m m2 Q viz Q 3 zipa HRA TIF District 1-3 APPROVED OCTOBER 24, 2006 0.5 0 1 2PICityofPlymouth Miles AVE. City of Plymouth, Minnesota Community- Development Department 3400 Plymouth Boulevard Plymouth, ININ 55447 763) 509-5400 Fax (763) 509-5407 APPLICATION FOR Tit INCREMENT FINANCI1G A. PROJECT: 1. Name: Address: Telephone 7 Fax T: Contact Person CROSSROAD CONIMO\S Oppidan. Inc. 5125 County Road 101. Suite 100, Minnetonka. M 55345 952-294-0353 952-294-0151 Paul Tucci — Email pain oppidan.com Brief Description of the project: The current property that is Crossroad Commons has become a blighted property and an eyesore for the Highway 55 corridor in the area. the residents of the area and the City itself, There have been previous attempts to redevelop this property but all have failed for various reasons. This development proposed for Crossroad Commons will include the demolition of the vacant building and adjoining asphalt parking area cun-ently on the property, re -grading of that portion of the property. grading and construction of a new frontage road (including sidewalks, boulevard landscape, lights and utilities as required, all to City standards), modifications to Highway 55 and County Road 73 (as required by '1ii\DOT and Hennepin County) and initial development of a 90 unit Senior Housing complex and a 5.000 s.f. fast food restaurant, with an additional 4= 7r- acres available for development. 3. Address and/or Legal Description of Site. 11255. 11015 & 11013 State Highwav 55. PID Numbers: 35-118-22-14-0026 35-118-22-I4-0023 36-118-22-23-0007 36-1 18 -??-23-0008 4. Proposed Project: Building square footage. size of property, description of buildings - materials, etc. Attach site plan, if available. The proposed property currently consists of approximately 20 acres. The property tivill be platted into thrce (3) buildable lot areas, consisting of approximately 9 acres of buildable 1 5 area and the balance being either non• -buildable outlots or wctland areas. Initial buildings will include a 4 -Story. 90 unit senior assisted living facility comprising approximately 130,000 gross square feet and a 5,000 square foot fast food restaurant. Building materials for the senior facility will include siding, brick -'stone accent areas. glass and other accent materials and amenities will include a parlor area, wellness center, activity area, beauty salon spa, chapel, restaurant style dining area and rear patio and garden area overlooking the wetlands. The fast food restaurant building materials primarily brick on the all sides with accents of EFTS. arch elements and canopies. Colors for the brick will generally be earth toned. Future construction on the reinainin,, land will be designed to integrate color and design elements where possible. A Site Plan is included with this application. tf property is to be subdivided, describe division planned. Subdivision of the property is planned. The platting will result in 3 buildable lots (of which 2 have identified users of senior housing and fast food) and 3 outlots (Outlots A & B are not buildable and OutIot C may need to be part of a future R -O -W augment). A copy of the plat is attached. Lot areas are: Senior Development Lot: Fast Food Restaurant Lot: Future Dev Lot — Outlot B: Outlot A — Road Pond Area: Outlot C — Potential Future ROW R -O -`V Dedication: 3.56 Acres 1.45 Acres 10.42 Acres (includes a Wetland area) 40 Acres 80 Acres 2.51 Acres 6. Estimated Project Costs: (Please enclose constriction proforma, if available) SITE DEVELOPMENT a. Land Acquisition S 3,500,000 b. Site Development (a fierther breakdown is attached) 1,659,450 c. Buildin6 Cost 0 d. Equipment c. Engincerina Fees MPCA Costs,'TraftTc 125,000 f. Legal Fees 25.000 g. Financing Costs 0 h. Broker Costs Development Fee 250.000 2 i. Contingencies j. Other (please specify) City Fees & Interest TOTAL 100,000 135.000 5.794,450 7. Total Estimated Nlarket Value at completion (Land [ S121/s.f.) S 4,700.000 S. Source ofFFinancin2 a. Equity S 259,650 b. Bank Loan 3.500,000 c. Tax Increment Assistance 2.034.800 d. Industrial Revenue Bonds e. Other (please attached description) 9. Fonn of tax increment financing: X Pay as You Go or Bond Issuance 10. \ame & Address of architect. enu-ineer and general contractor. Site Development Engineer Dan Parks, Westwood Professional Sen -ices 7699 Anagram Drive. Eden prairie, NNIN 55344 Senior Housing Engineer - Dan Parks, Westwood Professional Sen -ices 7699 Ana Drive, Eden prairie; ININ -552' 44 Phone (952) 937-5150 Senior Housing Architect --Jill Krance, ESG Architects. 500 WashinMton Avenue. Minneapolis, MN 55415 Phone (6I2) 339-5508 McDonald .=architect Trish Rothe, Kimley Horn. 2550 University Avenue West, Suite 33S\T, St. Paul., MIN 55114 Phone (651) 643-0170 McDonald's Architect — James Hergett, Reprise Design, 12100 Portland Ave, Suite 185. Burnsville, `Nf\ 55 337 Phone (952) 252-4042 11. Estimated real estate tares on project site upon completion of project. Please shovv calculations) 3 Senior HousinL, — Estimated Value of S 12.200.000 Tax -1.75°'0 of Value or 5213.500 McDonald's — Estimated Value of S_"_ 150,000 Tax P 3.25/0' of Value or S69.875 Future Lot RetaiIlOffice — Estimated Value of 57,000.000 Tat = 3.25°i7 of Value or 5230,750 12. Project construction schedule: a. Construction Start Date: Fall. 2011 b. Construction Completion Date: Winter 2012 c. If phased project: 2011 35% Complete 2012650 Complete B. TAX f\CRENIE`T HNANCING REQUEST: 1. Describe amount and purpose for which tax increment financing is required. The Tax Increment Financing Request is for 52,03=1,800. These dollars will be used to pay for the following items: building and parking lot demolition, building hazardous materials abatement, re -grading of the building pad and parking lot demolition areas, roadn-ay grading. roadway pending; utility work in the roadway, demolition and abandonment of utilities as directed by the City, installation of new roadway, installation of new path along roadway, installation of roadway landscaping and lighting. Highway 55 modifications, City fees (including TIF application fee, traffic analysis, etc.), geotechnical and environmental costs related to the new roadway, MPCA required remediation and clean-up costs, the land value of the roadway area dedicated to the City and or County and the land value of the outlets dedicated for pending of the new roadway (Outlet "A") 2. Statement of necessity for use of tax increment financing for project. Current cost estimates for the project total approximately S5.SM. of which S3.5y4 is land and the balance is for demolition. public roadway improvements and infrastructure improveinents in the area. The residual value of the remaining buildable lots is estimated to be approximately S4.7M, using an average valuation of land at S I2 per square foot on the 9 acres of buildable land area. Without the inclusion of Tax Increment Financing for this project, the owner'developer would not move forward to complete this project, given the resulting economic realities. The inclusion of TIF allows the owner'developer to move f6iivard and complete the required iiriprovernents 4 both on-site and off-site). deliver to the City a new. integrated commercial district and clean up the blighted area that exists today. 3. Please indicate how the project and use of T.I.F. would meet one or more of the following goals: job retention, job creation, head -of -household jobs, affordable housing or tax base expansion. The project and uses within this development would create an expansion of the tax base and create new jobs for the City. The estimated property valuations upon completion would be approximately S?1M. New jobs would also be created. The Waters Senior Housing facility is estimated to add 30-40 new full time jobs and ?0-30 new part time jobs. The wage ranges for the frill time jobs would be S 10,000-5$0,000 for Executive'4lanagement positions and 525,000-580,000 for nursing/staff positions. The wage range for part time jobs would be dependent on the person educationitrainin`-- and experience level but would fall into the annual range as stated above. McDonald's would add approximately 15 new full time jobs and 50-60 new part time jobs. The actual number of jobs will depend on the sales generated at the location. Wage ranges for the full time jabs would be S1? -10 per hour. The wage range for part time jobs would be 57.75-51? per hour. Additionally, there will be additional development on the 4.25 acre parcel on the east side of the site. Currently. we have both office and retail user interested in the site. We feel that this site will add a sianihcant amount of jobs, both full and part time, to this site. Last, there will be numerous construction jobs at this location. From the work to complete the infrastructure to the construction of the Senior Housing facility, Restaurant facility and the building(s) on the remaining parcel, the number of construction jobs would be in the 100's. 4. Municipal Reference (if applicable). Please name other municipalities ,wherein the applicant, or other corporations the applicant has been involved with, has completed development within the last ten years. — Minnesota Only Deals Cite of Minnetonka — Goodwill City of NIir-tnetonka — Sports Complex City of Minnetonka —'NIG%i Liquor Warehouse City of Maple Grove MUNT Liquor Warehouse City of Rosemount - Cub Foods & Adjoining Retail City of Victoria — Sports Complex City of Eden Prairie — Multi -Tenant Retail City of Eden Prairie — Gander 4lountain City of Belle Plaine — Coborri s \ IcDonald's 5 Citv of St. Paul Cub Foods &. Adjoining Retail Cite of Hibbing Wal -green Is City of Hibbing — Multiple Retail Buildings Cite of Blaine — Gander Mountain City of Blaine — Northern Tool Citv of Blaine — 'Multi -Tenant Retail City of Spring Lake Park — Multi -Tenant Retail City of Vadnais Heights — Sports Complex City of Faribault — Multi Tenant Retail City of Owatonna Multi Tenant Retail City of Marshall — Multi -Tenant Retail City of Woodbury — Gander Mountain City of Woodbury — Multi -Tenant Retail City of Woodbury Goodwill City of Hennantown (Duluth) Gander Mountain City of Duluth — Multi -Tenant Retail City of Mankato Gander Mountain &- Gordman's City of Big Lake — Coborn's City of Arden Hills — Cub Foods 8c Adjoining Retail City of Northfield — Cub Foods City of Coon Rapids - Cub Foods & Adjoining Retail City of Mankato - Cub Foods R Adjoining Retail City of Brainerd - Cub Foods Adjoining Retail City of Shakopee Target -Kohl's &- Adjoining Retail City of Red Wing — Econo Foods & Adjoining Retail 5. :applicant acknowledges and agrees that all fees and expenses incurred in connection with this application or establishment of the TIF District, whether or not approved, ill be paid by Applicant. Fees include, but are not hinited to, consultant fees, attorney fees, staff time and publication of notices. The City requires the applicant to provide an initial escrow amount of S20,000 along with this application that will be used to cover the above fees during the process. If the costs exceed the above amount the City will request additional fiends to be deposited with the City. The Applicant shall hold the City, its officers, consultants, attorneys and agents harmless from any and all claims arising from or in connection with the Project, including but not limited to, any alleged or actual violations of any State or Federal securities laws. Applicant recognizes and agrees that the City reser es the right to deny any Application for Tax Increment Financing at any stage of the proceedings prior to adopting the resolution approving the district, that Applicant is not entitled to rely on any preliminary actions of the City prior to the final resolution, and that all expenditures, obligations, costs, fees or liabilities incurred by the Applicant in connection with the Project are incurred by the Applicant at its sole risk and expense and not in reliance on any actions of the City. The undersigned, a duly authorized representative of the Applicant. hereby certifies that the foregoing information is true, correct and complete as of the date hereof and agrees that the Applicant shall be bound by the terms and provisions hereof and of the City's Policy and Procedures attached hereto. 6 DATE: lune 1 S. 2011 Applicant: Oppidan. Inc. 5125 County Road 101. 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U 0 2 lJ u 0 u I- ESTIMATED SITE VALUIES CROSSROADS COMMONS 1) Assumes 35,000 s.f. of Building on 4.3 Acre Site McDonald's 725,000.00 1,000,000.00 300,000.00 5 125,000.00 S 2,150,000.00 Land Remaining (1) 5 2,100,000,00 3,500,000.00 1,000,000.00 500,000.00 7,100,000.00 69,875.00 $ 230,750.00 The Waters Land Value 1,500,000.00 Building Cost 8,700,000.00 Site Work 1,000,000.00 Soft Costs 1,000,000.00 TOTAL VALUE ESTIMATE 12,200,000.00 RE Tax Estimate Sr. Housing - 1.75% Of Value 213,500.00 Retail/Commercial - 3.25% of Value Toal Estimated Tars on Completion 514,125.00 1) Assumes 35,000 s.f. of Building on 4.3 Acre Site McDonald's 725,000.00 1,000,000.00 300,000.00 5 125,000.00 S 2,150,000.00 Land Remaining (1) 5 2,100,000,00 3,500,000.00 1,000,000.00 500,000.00 7,100,000.00 69,875.00 $ 230,750.00 o: 0000 N= T m R R aaaLa a ao m 'e9E'`240 o.qae M--oM o oo oln In va o 0 ono D d NN C c o 0vo QZ o CC V @^ 3 1Q D aisE c R E ^ mo[r m EammR CZ TJ = q j j!n ix m a ,•L x eQp ov m x 1,1 m p m— p m r ? m C} d N W W U Z n U m m N O N N u C t. i C w 7 C} m .M 4 r m m Ld CL R^ U( m R m O QF- Val N Np2 a mZK>-c 3 u u `} o v'lEAM a`iG mE0 gOa iCY1qI N._mm }LNNmymR h N 3 6 j C ym Z- 19 d VV llN]3 UUN H Q C U, W C C a LL H U} Q LL CLL LL m R a b Q O O •T Y] 1n j c o m ro ¢ pUr`rim b x r FCOtiQ L N VO m m m 0- 0- IL U Q U61-00 ca CaUUo U z z o041r141 . 0 pOp m Ol RU C1 O xaF TX N 6 m N It CCaLLaa== a U0 ao amz m o 0 0 0 0 o 0 o a o x aLLLL0-EL R o 7 QR C N o aogoq m m o 0 o a o q ` 4t74© [3 c m uer m m a > O oaooa m o 0 0 0 0 ovsspoa RQ»10 Y r H Y m 3 RC > v.. s m rs O O O 4 G m 6 4 0 0 0 rnva lnao Am i,=vi mJ s N v Q C Meoonm N N CIO O 00000 09999 4 T m m mNNN a© fW AN NNNNNNN A m00 GO Gd N N 16 16 16 n m m R m m m x 030 o yf c may y A c7 m ro 0..momahoRo xyEy too oo wnmoomm' .088 H E ufEd w - mac c -void= VmUmomm kd 6If ff}U M'N 0 V. c ECJ m a=' u. 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v Y i, `! s v, v v, v v v c v a av v v, M O O O Q o O O O a 0 O o o a OO O O a O 0 0 0 0 o Q a o a0 a 0 0 o a o O a o a ti) a O O O i? a O Q a a O a SJ O O Q O Cl Q O m ED co m m m to to eo to to M U) LD to en to to to co eo T M M co M c•) M n Cl) M f•1 M m M M 0 M M M cn M M 0 0 m M M P) C) cq M t'7 M M M M M C] P) M M a o o a a o 0 0 0 0- e e o o a o o a a o o o O o o o o o o 0 a o Q o o o a a a 0 o a o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 i CCit'1Gf r` C 0 3 As ofJuly 7, 2011 Dr•aft.for HRA Meeting Modification to the Tax Increment Financing Plan for Tax Increment Financing District No. 1-3 a redevelopment district) within Redevelopment Project Area No. 1 Housing and Redevelopment Authority in and for the City of Plymouth City of Plymouth Hennepin County State of Minnesota Adopted: October 24, 2006 Administrative Modification: July' -1,2011 E H L S Prepared by: EHLERS & ASSOCIATES, INC. 3060 Centre Pointe Drive, Roseville. Minnesota 55113-1105 I, P4!. C. r1'+.r.4- 651-697-8500 fax: 651-697-8555 www.ehiers-inc.com TABLE OF CONTENTS f)r reference purposes ouly) Section I - Moth cation to the Tax Ittcrenret7t Fit7aiicii7g Plcri7 for• Tax Increment Financing District No. I-3 Estimated Sources of Revenue...................................................2-1 Estimated Public Costs......................................................... 2-1 Appendix A Map of Redevelopment Project Area No. 1 and TIP District No. 1-3 .............. Appendix -A Section I - Modification to the Tax Increment Financing Plan for Tax Increment Financing District No. 1-3 AS MODIFIED JULY2I, 2011) The City Council originally adopted a TIF Plan for District No. 1-3 on October 24, 3006. The Housing and Redevelopment Authority in and for the City of Plymouth (the "Authority") is the administrative agent for District No, 1-3. No redevelopment has occurred to date on the project due to a variety of circumstances, including the slow down in the real estate industry in the past four years. The Legislature has recognized the difficulty in achieving new development and in 3009 authorized tax increment financing districts approved between 2005 and 2009 to extend both the "four year knockdown rule" and the "five financing rule" to six years and 10 years respectively. The Authority proposes to modify the budget for the TIF Plan for District No. 1-3 to account for a different costs associated with a proposal by Oppidan to develop a 90 unit senior housing rental building, a fast food restaurant, and a future commercial/retail building of approximately 35.000 square feet. The fiscal implications of this development are less than what was contemplated in the original TIF plan. The modified budget below reflects the new proposal as Nvell as new guidelines from the Office of the State Auditor This modification is an administrative modification only which does not require a public hearing nor a 30 day notice to the affected County and the School District. A development agreement has not yet been negotiated with Oppidan. but is expected to be considered by the Authority in 2011. Estimated Sources of Revenue The total estimated tax increment revenues are shown in the table below, SOURCES OF FUNDS TOTAL Tax Increment S4,-500,000 n to res t 595,91 S Total S4,595,918 Housing and Redevelopment Authority in and for the City of Plymouth Tax Increment Financing Plan for Tax Increment Financing District No. 1-3 2-1 Estimated Public Costs The budget set forth below reflects the Authority's estimate of the amount of tax increment necessary for project completion. USES OF FUNDS TOTAL Land/Building Acquisition 5275,000 Public Utilities $150,000 1 Site Improvements and Preparation Costs $1,000,000 Other Public Im provements 5550,000 Administration 5450,000 PROJECT COST TOTAL S2,425,000 Interest $2,170,9I $ PROJECT AND INTEREST COSTS TOTAL S4,595,918 Housing and Redevelopment Authority in and for the City of Plymouth Tax Increment Financing Plan for Tax Increment Financing District No. 1-3 2-2 Appendix A Map of Redevelopment Project Area No. 1 and Tax Increment Financing District No. 1-3 HRA TIF District 1-3 Plymouth Crossroads Station rp)city V= of Plymouth Housing and Redevelopment Authority in and for the City of Plymouth Tax Increment Financing Plan for Tax Increment Financing District No, 1-3 Appendix -A HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF PLYMOUTH CiTY OF PLYMOUTH HENNEPIN COUNTY STATE OF MINNESOTA RESOLUTION NO. RESOLUTION ADOPTING AN ADMINISTRATfVE MODIFICATION TO THE TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 1-3 WHEREAS, it has been proposed by the Board of Commissioners (the "Board") of the Housing and Redevelopment Authority in and for the City of Plymouth (the "NRA") and the City of Plymouth (the City") that the HRA adopt an administrative modification to the Tax Increment Financing Plan for Tax Increment Financing .District No. I-3 (the "TiF District Modification"), all pursuant to and in conformity with applicable law. including Minnesota Slatutes, Sections 469.001 to 469.047, and Sections 469.174 to 469.1799, inclusive, as amended (collectively, the "Act"), all as reflected in the Redevelopment Plan and Tax. Increment Financing Plan and presented for the Board's consideration; and WHEREAS. the HRA has investigated the facts relating to the TIF District Modification and has caused the TIF District Modification to be prepared, and WHEREAS, the I -IRA has performed all actions required by law to be performed prior to the adoption of the TIF District Modification, Due to the nature of this modification, and because the TIF District Modification does not entail an enlargement of geographic area, an increase in the amount of bonded indebtedness, a determination to capitalize interest on the debt. an increase in the portion of the captured net tax capacity to be retained by the HRA, an increase in the total estimated tax increment expenditures, or a designation of additional property to be acquired by the HRA, nor does it extend the term of the TIF District, this Administrative Modification is not subject to a public hearing by the City Council, NOW. THEREFORE, BE IT RESOLVED by the Board as follows: 1. The Board hereby reaffirnis that the District as modified herein is in the public interest and is a "redevelopment district" under Section 469.174, Subdivision 10 of the Act and finds that the TIF District Modification conforms in all respects to the requirements of the Act. The Board further reaffirms that the TIF District Modification will help fulfill a need to develop and redevelop areas of the City that are already built up and that are newly annexed and will provide employment opportunities in the City while preserving and enhancing the City's tax base. The TIF District Modification, as presented to the Board on this date. is hereby approved, established and adopted and shall be placed on file in the office of the Community Development Director. The staff, the HRA's advisors and legal counsel are authorized and directed to proceed with the implementation of the TIF District Modification and for this purpose to negotiate, draft, prepare and present to this Board for its consideration all further plans, resolutions, documents and contracts necessary for this purpose. Approval of the TIF District Modification does not constitute approval of any project or a Development Agreement with an), developer. 4. The Community Development Director is authorized and directed to forward copies of the TIF District Modification to the Minnesota Department of Revenue and Office of the State Auditor pursuant to Section 469.175, Subdivision 4a of the Act. Approved by the Board of Commissioners of the Housing and Redevelopment Authority in and F01 -the City of Plymouth this 21" day of July, 2011. Chair ATTEST: Secretary HOUSING AND REDEVELOPMENT AUTHORITY IN AND FOR THE CITY OF PLYMOUTH CITY OF PLYMOUTH HENNEPIN COUNTY STATE OF MINNESOTA RESOLUTION NO. 2011-05 RESOLUTION ADOPTING AN ADMINISTRATIVE MODIFICATION TO THE TAX INCREMENT FINANCING PLAN FOR TAX INCREMENT FINANCING DISTRICT NO. 1-3 WHEREAS, it has been proposed by the Board of Commissioners (the "Board") of the Housing and Redevelopment Authority in and for the City of Plymouth (the "HRA") and the City of Plymouth (the City") that the HRA adopt an administrative modification to the Tari Increment Financing Plan for Tars Increment Financing District No. 1-3 (the "TIF District Modification"), all pursuant to and in conformity with applicable law, including Miluresola Statutes, Sections 469.001 to 469.047. and Sections 469.174 to 469. t 799, inclusive, as amended (collectively, the "Act"), all as reflected in the Redevelopment Plan and Tax Increment Financing Plan and presented for the Board's consideration, and WHEREAS, the HRA has investigated the facts relating to the TIF District Modification and has caused the TIF District Modification to be prepared; and WHEREAS, the HRA has performed all actions required by law to be performed prior to the adoption of the TiF District Modification. Due to the nature of this modification, and because the TIF District Modification does not entail an enlargement of geographic area., an increase in the armount of bonded indebtedness, a determination to capitalize interest on the debt, an increase in the portion of the captured net tax capacity to be retained by the HRA, an increase in the total estimated tax increment expenditures, or a designation of additional property to be acquired by the HRA, nor does it extend the terrn of the TIF District, this Administrative Modification is not subject to a public hearing by the City Council. NOW, THEREFORE, BE IT RESOLVED by the Board as follows: L The Board hereby reaffirms that the District as modified herein is in the public interest and is a "redevelopment district" under Section 469.174, Subdivision 10 of the Act and finds that the TIF District Modification conforms in all respects to the requirements of the Act. The Board further reaffirms that the TIF District Modification %% ill help fulfill a reed to develop and redevelop areas of the City that are already built up and that are newly annexed and will provide employment opportunities in the City while preserving and enhancing the City's tax base. Z. The TiE District Modification, as presented to the Board on this date, is hereby approved, established and adopted and shall be placed on file in the office of the Community Development Director. 3. The staff, the HRA's advisors and legal counsel are authorized and directed to proceed with the implementation of the TIF District Modification and for this purpose to negotiate, draft, prepare and present to this Board for its consideration all further plans, resolutions, documents and contracts necessary for this purpose, Approval of the TIF District Modification does not constitute approval of any project or a Development Agreement with any developer. 4. The COmmlmlty Development Director is authorized and directed to forward copies of the TIF District Modification to the Minnesota Department of Revenue and Office of the State Auditor pursuant to Section 469.175, Subdivision 4a of the Act. Approved by the Board of Commissioners of the Housing and Redevelopment Authority in and for the City of PlymoLIth this 215' day of July, 2011. Chair ATTEST: Secretary Agenda Number —Iola s PLYMOUTH HOUSING AND REDEVELOPMENT AUTHORITY STAFF REPORT TO: Plymouth Housing and Redevelopment Authority FROM: Jim Barnes, Housing Programs Manager through Steve Juetten, Executive Director MEETING DATE: July 21, 2011 SUBJECT: Senior Buildings - Replacement Reserve Analysis and Vicksburg Crossing Long Term Financial Projections BACKGROUND: As part of the operations of the HRA's two senior buildings, funds are set aside each year to cover the costs of equipment and building components as they wear out. We have had a Replacement Schedule for Plymouth Towne Square (PTS) since it opened in 1994. The last time the schedule was updated was in 2004. We have never had one for Vicksburg Crossing (VC). Staff has revised and updated the PTS replacement schedule and created one for VC. This was done by contacting our contractors and suppliers and requesting estimated costs for the items in the schedule. Plymouth Towne Square As indicated above, this schedule has not been updated since 2004. As of June, the current balance in the reserve account is $808,567. The amount of funds set aside each year for this account has varied over the years. The 2011 budget provided for $84,000 to be put into the reserve account. Attached is a staff generated spreadsheet showing annual expenses, reserve contributions and ending annual reserve balances through 2031. Vicksburjz Crossing This is the first Replacement Schedule for Vicksburg Crossing. As of June, the current balance in the reserve account is $211,517. The amount of fiends set aside each year for this account has been approximately $60,000. Attached is a staff generated spreadsheet showing annual expenses, reserve contributions and ending annual reserve balances through 2031. If the General HRA reserve funds are taken into consideration along with the above discussed individual building reserves, staff is of the opinion that sufficient funds would be available to address Iong term maintenance expenditures for PTS. This assumes that the HRA continues to fiend the reserve accountX annually to the level they currently do. However, the attached spreadsheet for Vicksburg Crossing indicates that we will be short funds in the reserve account. The Board may want to consider increasing the amount of reserves that are set -a -side each year for Vicksburg Crossing. Vieksbur•2 Crossing Long Range Forecast Each year staff reviews the financial forecast for Vicksburg Crossing to determine if we will have any shortfalls and if so, what sources of funds would be available to assist the HRA forecast attached). The recently updated forecast (updated with 2010 actuals) shows a positive cash flow until 2032 usina retained earnings and a $25,000 subsidy from the HRA levy. Beginning in 2032 the forecast shows a negative cash flow annually until 2036 when the building debt is paid in full, at which time the forecast shows a substantial positive cash flow. Staff will utilize the forecast to help define and explain the 2012 proposed budget when presented to the HRA later this year. RECOMMENDATION:. Staff recommends that the Housing and Redevelopment Authority Board of Commissioners review and discuss the attached financial projections. ATTACHMENTS: 1. PTS Replacement Schedule 2. VC Replacement Schedule 3. VC Long Range Forecast Plymouth Towne Square Replacement Reserve Detail Schedule 2011-2031 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 Building/ Common. all at once with exerntion vfsmaPi ren. airs/maintenarnroJ UNIT OF uN1T TOTAL LIFE YEAR iTCY 1.IFAC1109 flit/ rnCr rnc"r FYDFf-r 0901 Afro ]Aii ]Ai] inig ]ASA ]niS )nir. 7ni7 ]AiR ]A10 ]A]A ]n]i 7A]] ]A]7 ]n]w ]A]C ]A]G ]A]i ]A]R ]A70 ]A]A 2nR1 Boiler Clrc. Pumps #1 each 1 5 OOO.DO 5,000 10 to 20 Projected salarx:e Current Year-end 848,864 Bands paid off in 2023 5,00 5,000 Boiler Circ. Pumps #2 each 1 S1000100 S,000 10 to 20 Apartment Appliance 66,000 308,303 5,000 55,440 101,000 46,000 200,500 146,440 119,000 96,000 5 000 70,440 Common Area Furniture each 1 33 ODO.00 33,000 10 to 12 2006 575,944 569,244 557,304 575,304 33,000 389,001 refrineraturs & stoves 0.1 100 11000.00 100,0()0 10 to 20 33,000 Replace A/C Unit #1 Common Area - small each 1 10 500.00 10,500 18 to 20 10 000 10 50O 10 000 10,000 10,000 10,000 10,0110 l0 040 MON 10,000 10,000 10,000 10 500 Replace A/C Unit #2 Common Area - small each 1 10 500.00 10,500 18 to 20 10yo 15 000 10,500 15,000 15,000 15 DDD 15,000 15 D00 IS 000 15,000 15,000 15 000 10,500 Replace A/C Unit #3 Common Area - small each 1 10 500.00 10,500 18 to 20 15,000 15,000 Unit Vinyl 10,500 100 1,000.00 100,000 7 to 12 10°Po 10 000 10 000 10 000 10 000 10 DDD Replace A/C Unit #4 Common Area - small) each 1 10 500.00 10,500 18 to 20 10 000 10 ON 10 000 10 000 10 5DO 10 000 14 000 10,0()0 10,001) C Units (replacemer 0.15 120 500.00 I 60 000 Replace A/C Unit #5 Common Area - small each 1 10 500.00 10 500 18 to 20 6000 6 ODO 6000 6000 10,500 6000 6000 6000 6000 6000 b 004 b OfiO 6400 Replace APC Unit #6 Common Area - large) each 1 20 000.00 20,000 18 to 20 410,000 41,000 41,000 20,000 41,000 41,000 41,000 41,000 41,000 41,000 41,000 Replace A/C Unit #7 Common Area - large each 1 20 000.00 20 DDO 18 to 20 41,000 41,000 41,000 41,000 20,000 Replace Elevator #1 each 1 6S,000.00 65 000 30 to 35 65 DDO Replace elevator #2 each 1 65 000.00 65,0M 30 to 35 65,000 R ace Generator each 1 40 000.00 40,000 30 to 35 20,000 20,000 Replace Hot Water Baler 1 each 1 47 000.00 47,000 10 to 15 47,D00 Replace Hot Water Boiler 2 each 1 47 000.00 47,000 10 to I5 47 D00 Replace Hot Water Boiler 3 each 1 47 000.00 47,000 10 to 15 47,D00 Replace Water Heater #1 each 1 10 000.00 1 10.000 8 to 12 2006 10 ODD 10,000 Replace Water Heater #2 each 1 10 000.00 1 10,000 8 to 12 2006 10'0G0 10,000 Replace Water Heater #3 each 1 10,000-00 10,000 8 to 12 2006 10,000 10,000 Water Softener #1 each 1 9 DOO.4O 9,000 12 to 15 2009 9,000 Water Softener #2 each 1 9 000.00 4 ODO 12 to 15 2009 9 000 Trim Fascia & Soffit In. ft, 1,800 19.00 34 2DO 15 to 20 34,200 34,2110 ce Concrete Curb Gutter In. ft. 2,340 33.00 T7,220 20 to 25 MOM 67 220 Concrete Sidewalk sq. ft. 3,600 9.50 34 2DO IS to 20 7,000 15,000 12,200 7,000 15,000 I 200 Sidi removal & reinstall ft. 10 Opo 6.50 65,000 15 to 20 22,000 5S.000 22 000 Paint Common Areas sq. ft. 12 000 2.50 30,0M 8 to 10 2006 30,000 30,013,10 Wall Common Areas, ft. 12 000 2.25 27,000 8 to 10 2006 27,MO 27,001) Asphalt seal /stri ft. 16 000 0.59 9,440 3 to 5 2010 9,440 9,440 9,440 9,440 Parking Lot Replacement w Asphalt Fire Lane sq, ft. 16,000 3.50 56,000 20 to 25 S6,000 Garage Floor Sealer sq, ft. 30,000 0.38 11,400 8 to 12 2009 11,400 11,400 Carpet Common Areas 59. ft. 40,258 3.50 140,903 8 to 30 2006 140,903 140,903 Heating Zone Valves each 120 200.00 24,000 10 to 15 2011 i 1 8,000 8 ODO 8,000 Window Replacement each 275 475.00 130,625 20 to 25 on in seals 20,000 5.0w- 5,000 5,000 5 000 I 5,D00 5,000 1 5 000 1 5,000 1 5,000 5,0131) 1 5,000 5,0D0 5,000 1 5,001) 1 5 000 1 5,000 1 5,000 1 5,000 5,000 goof (asphalt) sq. ft, 43,000 295 126,850 15 to 20 2009 1 1 1 1 126,500 Subtotals 1,261,338 - 210,500 97,720 93,700 49,700 54,940 25,000 267,303 5,000 14,440 50,000 5,000 159,500 105,440 78,000 55,000 45,400 29,440 27,200 280,603 15,500 Replaced / Unit - Related Usual vire or two ata dme Current -year Projected CantribuOons 84,000 Year Projected salarx:e Current Year-end 848,864 Bands paid off in 2023 340,000 251,500 138,720 134,700 90,700 Apartment Appliance 66,000 308,303 46,000 55,440 101,000 46,000 200,500 146,440 119,000 96,000 86,400 70,440 68,200 321,603 56,500 Estimated Beginning Balance 848,86# 681,364 626,644 575,944 569,244 557,304 575,304 351,001 389,001 refrineraturs & stoves 0.1 100 11000.00 100,0()0 10 to 20 1011. 10,01)(1 10,000 10,000 10,000 10 000 10 DOO 10 000 10,000 10 000 10,000 10,000 10,000 10,0110 l0 040 MON 10,000 10,000 10,000 10,000 10 OOD Unit Carpet 0.2 100 1,500.0o 350 000 7 to 10 10yo 15 000 15 004 15,000 15,000 15 DDD 15,000 15 D00 IS 000 15,000 15,000 15 000 15,000 15.0m 15 ODO 15040 15 004 1S 000 15,000 15,000 15,000 Unit Vinyl 0.2 100 1,000.00 100,000 7 to 12 10°Po 10 000 10 000 10 000 10 000 10 DDD 10 000 10 000 10 000 10 000 10 000 10 000 10 000 10 ON 10 000 10 000 10 000 10 000 14 000 10,0()0 10,001) C Units (replacemer 0.15 120 500.00 I 60 000 10 m 15 14% 6 Opo 6400 6 Opo 6 000 6000 6 ODO 6000 6000 6 000 6000 6000 6000 6000 6000 b 004 b OfiO 6400 6000 b 000 5440 Subtotals 410,000 41,000 41,000 41,000 41,000 41,000 41,000 41,000 41,000 41,000 41,000 41,000 41,000 41,000 41,000 41,000 41,000 41,000 41,000 41,000 41,000 Beginning Reserve Balance 764,664 Current -year Projected CantribuOons 84,000 Current -year Draw -downs Projected salarx:e Current Year-end 848,864 Bands paid off in 2023 340,000 Annual Expense 251,500 138,720 134,700 90,700 95,940 66,000 308,303 46,000 55,440 101,000 46,000 200,500 146,440 119,000 96,000 86,400 70,440 68,200 321,603 56,500 Estimated Beginning Balance 848,86# 681,364 626,644 575,944 569,244 557,304 575,304 351,001 389,001 417,561 400,561 438,561 322,061 599,621 904,621 1,232,621 1,570,221 1,923,781 2,279,581 2,381,978 Annual Contribution 84,000 84,000 84,000 84,000 84,000 84,000 84,000 84,000 84,000 84,000 84,000 84,000 84,000 84,000 84,000 84,000 84,000 84,400 84,000 84,000 Bond Payment Ends 0 0 0 0 4 0 0 0 0 0 0 0 340,000 340,000 340,000 340,000 340,000 340,000 340,000 340,000 Projected Ending Balance 84B,864 681,364 626,644 575,944 569,244 557_304 575_3G4 351,001 389,001 417,561 400,561 438,561 322,061 599,621 904,621 1,232,621 1570221 1,923 781 2,279,581 2381978 2,749 478 Vicksburg Crossing Replacement Reserve Detail Schedule 2011-2031 RumliljnylCommon 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 UNLIT OF UNIT TOTAL LIFE YEAR rrcu YFAC11109 nTV rnCT rncr FVOFrr* GFW Arrn 3nii 7ni7 7nia 7nia 7ntr. 7n1f. 7n17 7419 7nia 7n7n 71377 7n77 7117a 71378 7n75 7n7r. 71377 7137A 21329 2nin 2031 Common Area Furniture each 1 33 000.00 33,000 10 to 15 33,000 33,00 Replace Elevator 41 each 1 65 000.00 65 000 30 to 35 partrnent lance R ace Elevator #2 each 1 65,000M 65,000 30 to 35 Replace Water Heater 91 each 1 10 000.00 10,000 8 to 12 10,000 10,000 refrigerators, stoves & Replace Water Heater 92 each 1 10 000.00 10,000 8 to 12 10,000 10,000 Replace Water Heater #3 each 1 30 000.00 10,000 8 to I2 10,000 1010W 0.1 97 1 SOO.00 145 500 10 to 20 Replace Water Heater #4 each 1 10,000-00 10.00() 8 to 12 10,0W 14550 14550 14 550 14550 10,000 1A550 Replace AJC Condensing Unit #1 Common Area each 1 10 000.00 10 000 17 to 20 14 550 14 554 10,000 Unit Ca t 0.2 97 1 500.00 145 544 7 to 10 10% Replace A/C Condensing Unit #2 Common Area each 1 10 000.00 10 OOO 17 to 20 14,550 14 550 10,000 14 550 14 550 14 554 14,550 Replace A/C Condensing Unit #3 Common Area In. ft. 1 10 000.00 10,000 17 to 20 14,550 14,S50 Unit Vin 10 000 97 604 7 to 12 10% 9 700 Replace A/C Condensing Unit #4 Common Area each 1 10 000.00 10 OOD 17 to 20 9 700 9 700 9 740 10 000 9 704 9 744 9 700 Replace A/C Condensing Unit #S Common Area each 1 10 000.00 10 DDD 17 to 20 9 740 Subtotals 388,000 10,000 38,800 38,800 Replace A/C Condensing Unit 96 Common Area each 1 10 000.00 10 000 17 to 20 38,800 38,800 38,800 38,800 10,000 38,800 38,800 Replace A/C Condensing Unit 97 Common Area each 1 10 000.00 10,000 17 to 20 10,000 Replace AJC Condensing Unit #8 Common Area each 1 10 000.00 10,000 17 to 20 10,000 Replace A/C Condensing Unit #9 Common Area each 1 10 000.00 10,000 17 to 20 10,000 Air Handeling Unit #1 each 1 15,000M 15,000 17 to 20 15 DOD Air Handefina Unit #2 each 1 15,000M 15,000 17 to 20 15 000 Air Handeli2q Unit 93 each 1 15 000.60 15,000 17 to 20 15,000 Air Handeling Unit #4 each 1 15 000.00 15 000 17 to 20 15,0M Air Handeling Unit #5 each 1 15,000M 15,000 17 to 20 15 000 Air Handeling Unit #6 each 1 15M0.00 15 000 17 to 20 15,0()0 Air Handeling Unit 91 Hun each 1 15 DOO.00 15,000 17 to 20 15,()00 Air Handeling Unit #2 Hu each 1 15,D00.00 15,000 17 to 20 15,000 Air Handeling Unit #3 Hu each 1 15 000.00 15,000 17 to 20 15,000 Water Softener #1 each 1 9,000.00 g,000 15 to 20 9_000 Water Softener #2 each 1 9 000.00 9,000 15 to 20 4 000 Titan(make-up Air Unit each 1 SD 000,00 50 000 20 to 25 Replace Generator each 1 40,00D.00 40,000 30 to 35 Boiler Heated Sidewalk) each 1 10,0M,00 10,01)0 12 to 15 10,000 Gary a Exhaust Fan each I 6 000.00 6 ODO 12 to 1S 6,00 Window Re men Re it each 364 600.00 218,400 20 to 25 21,8M 21 BOD 21 800 21,80D 21,800 21,8D0 Replace Concrete Curb Gutter In. ft. 1,050 33.00 34,650 20 to 25 34,650 Fascia & Soffit in. ft. 1,450 19.00 27,550 15 to 20 27,550 Concrete Sidewalk sq. ft. 7,500 9:50 71,250 20 to 25 1 1 1 1 71,251) Panting Lot Replacement wf traio 16,000 3.50 56.00 17 to 20 S6 000 Asphalt sea stn fL 16,000 0.59 9,440 3 to 5 9,440 9440 9,440 9440 9,440 Paint Common Areas sq. ft. 24,000 2.43 58,320 10 to 12 58,320 58,320 Carpet Common Areas sq. ft. 24,000 3.50 84 000 10 to 12 84,000 84 DD0 Garage Floor Sealer SQ. ft. 2%500 0.19 5,605 8 to 12 5e605 5,605 5,605 S -di removal & reinstaSl sq. ft. 38 000 S.SO 209 000 20 to 25 50,000 1 159 4D0 Roof LaIU sq. ft. 42,000 2.95 123 900 15 to 24123,900 each 97 GO 587.000 1 12 to 15 58 200 I 58 200 1 58,200 1 513,200 1 58,200 1 58,200 58,200 58 2D0 58 200 58 2DO 58 2DU SubtotalS L,103.4115 - 9,4410 - i5,bU5 lu,uuu 1V,44U 185,.:iAu Replaced b,LUU b/,b4u 14L,LUu O3,5u3 :;U Auu lL/,04u ilir,iUu LYl^bu Ava uuu ipY,/lou li/,/uu i/,4u5 L9J,uuu Unit - Related Usual one or two ata nine Year partrnent lance refrigerators, stoves & dishwashers) 0.1 97 1 SOO.00 145 500 10 to 20 10% 14,550 14,550 14,550 14,550 14,550E14,550 14550 14550 14 550 14550 19 550 1A550 14550 19550 14 550 14 5SO 14 550 14 550 14 550 14 554 14 550 Unit Ca t 0.2 97 1 500.00 145 544 7 to 10 10% 14 550 14 554 19 550 14 550 14 55050 14,550 14 550 14 550 14 550 14 550 14 554 14,550 14,550 14,550 14,550 14,550 14,550 14,550 14,550 14,S50 Unit Vin 0.2 97 1 000.00 97 604 7 to 12 10% 9 700 9 700 9 704 9 700 9 700 9 740 9 700 9 700 9 700 9 740 9 700 9 704 9 744 9 700 9 740 9 7p0 9 700 9 740 9 704 9 700 9 740 Subtotals 388,000 38,800 38,800 38,808 38,800 38,800 38,800 38,800 38,800 38,800 38,800 38,800 38,800 38,800 38,800 38,800 38,800 38,800 38,800 38,800 38,800 38,800 Beginning Reserve Balance 181,328 Annual Expense 38,800 48,240 38,800 54,405 48 800 58,240 224,120 38,800 97,000 106,440 181,000 102,605 97,000 166,440 157,000 330,250 234,800 328,560 166 ,500 66,205 277,800 Current -year Projected Contributions 60,03D Assumed Beginning Balance 241,328 253,088 274,288 219,883 291,083 292,643 128,723 149,923 112,923 66,483 (54,517) (97,122) (134,122) (240,562) (337,562) (607,812) (782,612) (1,051,172) (1,157,672) (1,163,877) Current -year Draw -downs Annual Contribution 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,000 60,OOD 60,000 60,000 60,000 60,4D0 64,000 60,000 60,000 60,000 60,000 Projected Balance Current Year-end 241,378 Band Payment Ends Projected Ending Balance 241,328 253,088 274,288 279,883 291,083 292,843 128,723 149,923 112,923 66,483 (54,517) (97,122) (134,122) (240,562) (337,562) (607,812) (782,612) (1,051,172) (1,157,672) (1,163,677) (1,381,677) Bands Paid off in 2035 Vicksburg Crossings HRA Tax Levy Only 5% annual expense increase OPERATIONAL CASH BALANCE Jul -11 Income Escalator 103% Expense Escalator 105% 2008 2009 2010 2011 2012 2013 2014 2015_ 2016 2017 2018 2019 2020 2021 Is 63 998.37 1 S 144 567.90 1$ 277 329.26 Apartment Rental Revenue 710,016M 900,001.00 S 977 406.00 S 1,022,918M 1,053,605.54 1,085,213-71 1,117 770.12 1,151.303.22 1,185,842.32 1,221,417.59 1,258,060.11 1,295,801.92 1,334,675M 1,374 716.25 Apartment Rental Revenue-Cou 33 533.00 29 004.00 S 29 567.00 30 552.00 5 33.531-00 33 531.00 33 531.00 33 531.00 33 531.00 33,531.00 33 531.00 33 531.00 33,531.00 33,531 00 Rent Concession 9,223.00 S 2,420.00 S HRA Subsidy -Tax Levy S 12,862-00 13 113.00 S 14,064.00 12 600.00 13,230.00 13,891.50 14 586.08 15 315.38 16,0811A5 16,885.21 17 729.47 18 615.94 19,5 .74 S 20 524.07 HRA Subsidy -TIF 152,617M S 136,224-31 S 153162.00 S 158 549.00 166 476.45 S 174 80037 183,540.29 192 717.30 202 353.17 212 470.82 223 094.36 234 249.08 245 951.54 258 259.61 Garage Rental 29 434.00 S 36 265.00 S 35,890M 5 35100.00 36,153-00 37 237.59 38 354.12 39,505.36 40 690.52 41 911.24 43,16&57 44,463.63 45 797.54 47,17146 Guest Suite Revenue 2,246.00 2,640.00 S 1,300.00 1 176.00 S 1,200.00 1,200M 1,200-00 1,200.00 1,200M 1,200.00 1,200.01) 1,200.00 1,200.00 S 1,200.00 Late Fee Revenue 34.00 S 240.00 240.00 S 240-00 S 240.00 240.00 240.00 240.00 240.00 240.00 240.00 Application Fee Revenue S 274.00 560.00 S 980.00 420.00 720.00 720.00 720.00 720.00 720.00 720.00 720.00 720.00 720.00 720.00 Transfer Fee Revenue 295.00 775.00 S 350.00 350.00 350.00 350.00 350.00 350.00 350.00 350.00 350.00 350.00 350.00 Smoker's Fee Revenue 1,714-00 1,000.00 S S S - Investment Income 25143.00 S 6,094.00 S 2,503.00 2,040.110 S 2,040.00 2,040M 2,040.00 S 2,040.00 2,040.00 2,040M 2,040.00 2,040.00 2,040-00 2,040.00 Unrealized GaintLoss 1,310.00 Miscellaneous Revenue 2 674.00 S 5 215.00 7,323.00 4,8G0.00 2,640.00 2,640,00 S 2,640.00 S 2,640,00 2,64000 2,640.00 2,640M 2,640.00 S 2,640-00 2,640.00 N5114UM $ V#U,S54.UU S 1,U01,2JH.UU i 1,U9f,J50.UU 4 1,1Ju,41W.54 V 1,10i'lfz.11r a 1Jy0,tl40.Q4 a 1,za I'Zzu.00 i 1,L9r,L0a.04 a I,au4,u%V.6z a 1,>41,7v7.oy a I,aou,HOO.JO a 1.4c 1, 11 .o1 i 1,4Qc,0uo.rc Property Administration 157,887.00 155.799.00 S 161 667.00 S 160 675.00 16B 708.75 177 144.19 186,001.40 5 195 301.47 5 205 066.54 215 319.87 226 085.86 237,390.15 249 259.66 261 722.64 Resident Services 2,72100 S 4,278.00 S 4,29200 4,25G.00 S 4,46150 4,685M 4,919.91 5,165.90 5,42410 5,695.41 5,980.18 6,279.19 6,593.14 fi 922.80 Marketing & Leasing S 8,616.00 S 12 991.00 S 9,222.00 9,764-00 10 252.20 10 764.81 11 303.05 11 868.20 12,461 .61 13 084.69 13 738.93 14 425.87 S 15147.17 15,904,53 Housekeeping S 12,862-00 13 113.00 S 14,064.00 12 600.00 13,230.00 13,891.50 14 586.08 15 315.38 16,0811A5 16,885.21 17 729.47 18 615.94 19,5 .74 S 20 524.07 Repairs and Maintenance 152,617M S 136,224-31 S 153162.00 S 158 549.00 166 476.45 S 174 80037 183,540.29 192 717.30 202 353.17 212 470.82 223 094.36 234 249.08 245 951.54 258 259.61 Interest Expense 483,125.00 483 144.78 S 474 053.00 S 473187.50 467,562.50 460 975.00 S 453 575.00 3 445 375.00 3 436,575-00 426 975.00 417 575.00 407 056.25 395._712.50 382 962.50 Proped & Ltat7il' Insurance S 26 021.00 S 31 968.00 S 31,042.00 S 32,124.00 33 730.20 35 416.71 37 187.55 39 046.92 40 999.27 43 049.23 45,201.69 47 461.78 49 834.87 52,326.61 Pa meat in Lieu of taxes 98,0M09 46 450.25 S 50 349.00 S 50 400.00 54,356.83 55 937.24 57 565.06 1 59 241.71 60 968.67 62 747.43 64 579.56 1 66„466.65 11,410-35 70 412.36 Re lacement Reserves 5 60,000.40 60,OOD.00 S 60 000.00 60 000.00 120 000.00 120 000.00 120 000.00 120,000.00 120 000.00 120 000.00 120 000.00 120 000.00 120,000.00 1 S 120,000.0F Pdnci al 1 $ 125,000.ggj S 140.000.00 1 150,000M 1 $ 170,000.00 1 S 185 000.00 1 205 000.00 15 220 000.00 1 $ 240 000.00 1 S 235 000.00 1$ 255 000.00 1 275 000.00 1 300 000.0D 1 $ 325,000.00 l.UU1,05u.uV i 1,U06,t700.a4 $ 1,Vw'1515 1.uu 5 1,111,04`.7-0u a 1,Lu0.1rV.4J a 1.CJ0,010.J4 d 1.L1a,9rm4z a l,Ju4,V01.00 a I.aJS},tlLtl.9V ?-I,J9l,Lif.60 a I,a00„707.V7 a 1,9C9,7"w•CII i I,qa V,woa.av a I.71 -'V4- -,I TIF DISTRICT 1-1 TIF DISTRICT 7-6 S REVENUES LESS EXPENSES I I $ 14,193-50)1 78,299.89)1 S75 443.04) 76,83148)l $ 72 502.30 $ (72,675.76)1 J47,177.84)1 47 035.36 45 958.36 49,271.4q 51,42&41) CASH PLUS REVENUE LESS EXP is 205,710,00 S 24 415.97 97 955.90 1 $ 263 135.76 768,862A0 1 S 715,552.51 1 S 665 119.47 S 613 286.99 565,784.68 518.108.92 1 S 495,931.09 473.895.73 $ 452,937.37 428,665.92 402,239M HRA SUBSIDY S 22,855.00 $ 40.000-00 C 99.996.00 5 24,000 00 15 25 000.00 1 $ 25 000.00 $ 25,000.00 S 25,000.00 S 25.000.00 S 25.000.00 S 25 000.00 S 25 000.00 $ 25,000.00 $ 25,000-00 Debt Service S 561,104.00 TIF DISTRICT 1-1 TIF DISTRICT 7-6 S 22,355.00 $ 40,000.00 5 661,100.00 $ 24,000.00 5 25,000-00 $ 25,000.00 $ 25,000.00 5 25,11VUM 5 25,uuu.UU $ 25,uUU.uu 5 z0,uuu.uu zo,uuu.uu a z>,uuu.uu 5 za,uuu.uu CASH - DEBT SERVICE AND 1 1 1OPERATIONSBALANCESSS705,671-90 759,055-90 1 $ 768,862A0 1 S 715,552.51 1 S 665 119.47 S 613 286.99 565,784.68 518.108.92 1 S 495,931.09 473.895.73 $ 452,937.37 428,665.92 402,239M Notes: Vicksburg Crossing is 96% !eased at the start of 2010 (90 units) Apartment Rental Revenue increases 3% starting 2011 (2010 is based on 2009 prices and 96% leased. 2011 is 3% higher then 2010). Garage Rental increases 3% annually starting in 2010 (2010 is 3% higher then 2009) Guest Revenue, Late Fee Revenue, Application Fee Revenue, Transfer Fee Revenue, Smokees Fee Revenue, Investment Income and Miscellaneous Revenue are held constant throughout. 511112011 Updated 2011 numbers. Need to check interest payment, Debt Service (less Subsidy), & operational cash balance 512612011 Entered 2010 actual audited numbers 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 S 1,415.957.74 5 1,458,436.47 S 1,502,189 57 1,547.255.26 1,593,672.91 S 1,641 483.10 S 1,690,72T59 S 1.741 449.42 S 1,793,682-90 1;847,503 69 S 1,902 928.80 S 1,960 016.67 S 2,08,817 17 S 2,079.381 58 2,141,763 13 33 531.00 S 33,531.00 S 33,531-00 S 33,531-00 5 33,531.00 S 33,531.00 S 33,531.00 S 33.531.00 S 33.531.00 S 33 531.00 5 33,531M 33.531.00 33.531.00 S 33,531.00 S 33,531.00 S S S 5 5 S 5 S S 5 S S S S - S 29,990.36 S 31,489M S 33 064,37 21,550.28 22,627.79 23 759.18 5 24.947.14 26 194.50 S 27 504.22 S 28 879.43 30,323.40 S 31,839.57 S 33,431M 5 35,103.13 S 36 858.29 S 38,701.20 40 636.26 S 42 668.07 5 27117259 S 284 731.22 298,967.79 313,916.18 S 329 611.98 S 346 092.58 S 363 397.21 S 381 557.07 S 400,645-43 S 420,677.70 441,711 M S 48586.61 50.044.21 S 51545.53 5 53,09190 54,684.66 56,325.20 58,014.95 S 59,755.40 5 61,548.06 S 63394.50 65,296.34 S 67255.23 69,272.89 S 71351.07 73,491.61 1,200.00 S 1,200.00 S 1,200.00 S 1.200.00 S 1.200-00 S 1,200.00 1,200.OD S 1,200.00 S 1.200.00 1,200,00 5 i 200.00 S 1,200.00 1,200.00 5 1 200.00 S 1,200.00 240.00 S 240.00 S 240.00 240.00 S 240.00 S 240.00 240,00 S 240.00 240.00 S 240.00 S 240-90 5 240-00 5 240.00 S 240.00 S 240.00 S 720.00 5 720.00 S 729.00 S 720.00 S 720.00 S 720.00 S 720.00 5 720.00 720.00 720.00 S 720.00 S 720.00 5 720.00 S 720.00 S 720.00 S 350.00 S 350.00 S 350.00 5 350 00 350.00 S 350.00 S 350.00 S 350.00 5 350.00 350.00 S 350.00 S 350.00 350.00 S 350.00 S 350-00 5 5 5 S 735,000.00 S - S 5 S - S - S - 5 2,040-00 S 2,040 00 S 2,040.00 2.040005204000S S 2,040.00 2,040.00 S 2,040.OD 2,040.00 S 2,040,00 5 2,040.09 5 2,040.00 2,040.00 2,040.00 2,040.00 2,640.00 5 2,640.00 S 2,640.00 2 640.00 S 2,640.00 S 2,640.00 S 2,640.00 S 2,640.00 5 2,640.00 S 2,640.00 S 2,640.00 S 2,640.00 S 2,640.00 2,640.00 2,640.00 1,505,265.35 $ 1,549,201.68 $ 1,594,456.19 $ 1,641,066.76 $ 1,689,u76.57 5 1,/38,5Z9.3u 5 1,/C8,463.98 5 1,1541,927,62 ] 1,090,961.3/ a l,nal,ola.zu p c,uua,a4a.14 a z.UDf,wuz.au a e,lco,all.ua a G,Itl I,4aa.fo a L,caa,ar a.ry S 274,808.78 288,549.22 302,976.68 S 318,125.51 S 334,031.79 S 350,733.37 S 368,270.04 1,9u9,aa4.04 386683.55 406,017.72 426,318.61 S 447634.54 474016.27 493,517,08 S 518,192.93 S 544,102.58 S 7,268.94 5 7,632.39 8,o74.01 S 8,4.14-71 S 8,835.44 9,277.22 S 9,741 M S 10 228.13 10,739.54 11 276.52 S 11,840.34 12 432.36 S 13,053,98 5 13,706.67 14 392.01 S 16.699.75 5 17,534.74 5 18,411.48 S 19,332.05 20,298.65 21,313.59 22,379.27 S 81740.38 23 498.23 S 24 673.14 5 25,906M S 27 202.14 28 562.25 S 29,990.36 S 31,489M S 33 064,37 21,550.28 22,627.79 23 759.18 5 24.947.14 26 194.50 S 27 504.22 S 28 879.43 30,323.40 S 31,839.57 S 33,431M 5 35,103.13 S 36 858.29 S 38,701.20 40 636.26 S 42 668.07 5 27117259 S 284 731.22 298,967.79 313,916.18 S 329 611.98 S 346 092.58 S 363 397.21 S 381 557.07 S 400,645-43 S 420,677.70 441,711 M 463,797.16 486,987.02 S 511,336-37 S 536,903.19 S 369 150.00 353,618.75 336 993.75 S 320,150-00 301,475.00 281,225.00 S 259 625.00 236,225.00 S 217 250.00 S 184,250-00 S 152,250.00 5 118 004.00 81,250.00 S 42 000.00 S 54.942.94 S 57.690.09 S 60 574.59 S 63,603.32 S 66_,783.49 S 70,122.66 S 73,628.80 77 310.24 81,175.75 S 85,234.54 89,496.26 S 93 971.08 98 669.63 S 103.603.11 108 783.27 72,474.44 S 74,596.37 76 786.03 5 79,039.31 81 360.20 S 83,750.71 5 86,212.93 88,749.02 91 361.20 S 94.051.73 96 822.99 S 99 677.38 5 102,617.41 S 105,645M S 108,764.71 120,Q40.00 S 120,000.00 20 000.00S1,0!6 S 120,000.00 120 000.OQ S 120 000.00 1 za 000.oD S 720 00000 S 120,000.40 120,000M 5 i20.00D_00 720 000.00 S 120 000.40 S 120,000.00 S 120,000M 5 355,000M S 380 000.00 S 385.000.00 S 415,000.00 S 450 000.00 5 480,004.00 S 520,000.00 555 000.00 S 600,000.00 S 6d0 000.00 5 685,000.00 S 735,000.00 785,000.00 S 840.000.00 S 5 1,563,967.72 1,606,982.57 5 1,UJ1,44J.5U 1,602,5L0.2L 5 l,l30,591.u5 5 1,l9U,ul`3.,15 5 l,a5L,733.f6 i 1,9u9,aa4.04 a 1,Ulf,(uL.34 s L,U47,-141.44 a L,iuf,u0u.u0 a 4,110,314.10 a e,e4',100.01 a L,aLa,a l4-aD a 1,."r4P.Pr a-17 1 S 336.656 24 1 5 324 628.85 308,168.78 1 S 253.656.30 t.S 257.166.25 1 S 219.496.04 1 S 176,837.22 1 5 120,096-84 1 5 55.568.60 1 S 17446.24] S(102,868,12)1S 098.843.74 5 309,000.84} 438,296.70 Is 57,802.37 S 57,780.89 S (37,027.40)1 S 41,460.06 S 49512.48 S 51,490.05 S (62,670.211 67,658.82 S 81740.38 S 89,528.25 5 98,114.84 S (110,321.881 5 120.975.62)T-$ 135157.10 S 747,297.54 S 25,000.00 S 25000.00 5 25000.00 $ 25,000.00 S 25.000.00 1 S 25.000.00 S 25,000.00 S 25000.00 5 25,000.00 $ 25,00000 $ 25,000.00 S 25,000.00 5 25,000.00 5 25.000.00 S 5 25,UUU.UU 5 1S,Uuu.uu 5 S S S S S - S S $ 5 $ S $ S is z5,uuu.uu25,000.00 25,01ju.uu 5 25,UUU.UU 5 1S,Uuu.uu 3 25,UUU.UU 3 La,uuu.uu a La„uuu.uu is z5,uuu.uu a La,uuu.uu La,uuu-uu a La,000.UU a za,uuu.uu a 49,uuu.uu a co,uuu.uu a S 369,437.13 1 S 336.656 24 1 5 324 628.85 308,168.78 1 S 253.656.30 t.S 257.166.25 1 S 219.496.04 1 S 176,837.22 1 5 120,096-84 1 5 55.568.60 1 S 17446.24] S(102,868,12)1S 098.843.74 5 309,000.84} 438,296.70 Videsbnug Crossing 3.C• To: Plymouth Housing and Redevelopment Authority From: Sara Paquette Managing Director Date: July 13, 2011 Subject: Vicksburg Crossing Market Report June Inquiry/marketing activity recap is as follows 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. 0 7 people did not make appointments to see the apartments. The rates were too high, they were looking for assisted living or they were just interested in having information sent. We will follow up with these people. o We received 2 emails from people who found us on our web site. Walk-in Traffic 4 people came in as walk-in traffic in June. Interest Timeline for Move In Of the 8 people that came into the office (either set up appointments or came in as walk-in traffic): 0 2 selected an apartment and put down a $500 deposit. 0 5 people were looking for a new home within the next 6 months. 0 1 was looking for a new home within 6 -12 months. 0 0 were looking for a new home beyond 12 months from now. 3155 \iclrs urg T.ane N • Ylymoutli, NI\T 55447 • Phone (763)559-1$77 • Fax (763)559-01.44 • www.ci.plyniout(i.inn.us Owned by Plymouth TToui ng and Redevelopment Authority EQUAL HOUSING OPPORTUNITY Interest Level by Apartment Style Of the total of 18 contacts (the sum of phone calls, emails and walk in traffic). 0 10 people were interested in information on low income I were under the impression we had subsidized housing o 2 people were most interested in moderately priced 1 bedrooms o 0 was most interested in a 1 bedroom with den o 2 people were most interested in 2 bedrooms o The remaining wanted pricing on several sizes. They were more interested in price. Ongoing Marketing Strategies — Update April Marketing Medium Frequency Cost Results Recommendation Sun Newspaper Typically 1 x 475 Good Continue, alternate mo. wl Lakeshore page Weekly Lakeshore Weekly Typically 1 x 450 Good Continue, alternate News mo.; wl Sun Sailor — Y4 page Brochures placed in Ongoing Nothing Keeps our Continue as Senior Centers of more than info in permitted Crystal, Hopkins, cost of the circulation. Robbinsdale, and brochure Maple Grove also PCC & City Hall. VC Website Ongoing 50 mo Typically Tracking inquiries. receive several inquiries a month Open House Twice a year. Approx. Was very We will plan Try to coincide 350 successful. another open with a resident Gave a lot of house in the fall. party. tours. Prospects impressed wl building & apartments. 2