HomeMy WebLinkAboutHousing & Redevelopment Authority Packet 03-19-1998PLYMOUTH HRA
STAFF REPORTS
MARCH, 1998
AGENDA
ANNUAL MEETING
PLYMOUTH HOUSING AND REDEVELOPMENT AUTHORITY
March 19,1998 AT 7.00 P.M.
Plymouth Towne Square Communky Room
155W- 37°Y Avenue North
1. Call to Order
2. Approval of January 15, 1998 ° nd February 19,1998 Minutes
3. Allocation from HRA General Fund in Support of the Proposed Village At Bassett Creek
Development, Tax Increment Financing District 7-5
4. Loan to Advance Funds to CommonBond Communities for HUD 202 Senior Apartments
5. Application for Community Activity Set -Aside (CASA) First Time Homebuyer Program
6. Plymouth Towne Square Monthly Housing Reports
7. Nomination and Election of Officers
S. 1997 Affordable Housing Activities
9. Other Business
10. Adjournment
Please mote that both the HRA meeting and the reception to honor former HRA
Commissioner John Edson at 6:00pm will be held at Plymouth Towne Square. Please
call Barb Peterson at $09-5411 to RSVP for the reception. A light supper will be
served.
j
MINUTES 41 •
PLYMOUTH HOUSING AND REDEVELOPMENT AUTHORITY
1 January 15, 1998
PRESENT: Chair David Crain, Commissioners Brian Helmken, Patrick Pelatring andBradBrown.
ABSENT: Commissioner John Edson.
STAFF PRESENT: HRA Supervisor Ed Goldsmith, Senior Cbwkrrypht Barb Peterson.
OTHERS PRESENT: Plymouth Towne Square Manager. Melody Burnham.
A meeting of the Plymouth Housing and Redevelopment Authority was called to order by ChairDavidCrainonJanuary15at7:15 p.m.
APPROVAL OF M MUTES
MOTION by Commissioner Crain, seconded by O mmuss:oner Helmken to recommend approval of
the Dec. 1, 1997 minutes.
Vote. 4 Ayes. MOTION ADOPTED UNANIMOUSLY.
2. PLYMOUTH TOWNE SQUARE MONTHLY HOUSING REPORT
PTS Manager Melody Burnham presented the monthly housing report for Plymouth Towne Square.
The caretakers called tlu; fin dept. on the 24" of November bE:mw of a strange smell in the north
wing of the 20° floor. They could not find the cause and on January 9' the same thing happened but
die cause could not be local d. It was a different time of day but the same type of smell. Exhaust
from tate garage could be the problem. The soffit vents and facia installation has been completed.
The clock on the tower has also been fixed. One resident died this month and that apartment has
been rented.
4. SHENANDOAH TOWNHOMES HOUSING IMPROVEMENTS FINANCING
ASSISTANCE
Supervisor Goldsmith Presented an update on the status of the Shenandoah Townhomes siding
ProjecL The homeowners approved the proposal on Jan. 6. The proposal went to the City Council
on Jan. 7 and was q proved. Property owners now have a 45 day period to object to the proposal.
This is not expected to happen. The Federal Home Loan Bank (FHLB) approved the application for
assistance for owner occupants that was submitted by the HRA and the Franklin National Bank.
Fifty Nine applications were received and fifty three applicants were eligible. Of than six that did not
qualify, three appear to be income eligible, but not owner -occupants. These three = "Miative
homesteads", where the owner is renting the home to a relative. The other three are over income but
have requested consideration as hardship cases. CDBO funds in the HRA's Housing Rehab could be
used to assist the "relative homesteads", if both the owner and occupant, eligible. We
have $29,000 available in the HRA's AXordable Housing Account which could be used to assist tbeJoverincomeapplicants. These homeowners have been told they are not eligible for the FHLB
assistance, but that we would investigate other possible assistance.
Plymouth Housing and Redevelopment Authority
October 16,1997
Page 42
Commissioner Pelstring asked what would happen if approving assistance for these cases
encouraged other requests. Supervisor Goldsmith responded that any requests would have to be
definite bm*wps.
Commissioner Dave Crain wanted to know what this would do down the lion as far as the
development of NW Plymouth, etc. A precedent could be established by doing this now.
Commissioner Pelstring asked what moderate income represents. Supervisor Goldsmith responded
that it is up to 80% of the metropolitan median income of $60,800 for a family of four ($48,640). An
upper limit could be set for hardship cases. Commissioner Hehnken feels that we are opening
ourselves up to more problems by going over the limits. Chair Crain wanted to know if we used a
110% rule if these people would fit into it. Supervisor Goldsmith indicated that did not have all
of the income data from the families to determine this at this time.
Discussion was held on the other throe applicants who we not owner -occupants, but whose relatives
aro living in the home.
This discussion was tabled until the next meeting.
S. HENNEPIN COUNTY HOUSING AND REDEVELOPMENT AUTHORITY PROGRAMS
A report was presented regarding first time homebuyer and housing rehab programs that the
Hennepin County HRA would make available for use in Plymouth. Under state law the Plymouth
HRA could object to Hennepin County operating these programs in Plymouth. No action was taken
by the HRA Board regarding this matter, thus allowing the Hennepin County HRA to provide these
programs in Plymouth.
6. OTHER BUSINESS:
Supervisor Goldsmith presented information regarding the Rottlund project. They are still working
on the site to find a feasible response to the presence of the contaminated construction debris. They
are proposing to screen material on site and anything smaller than K inch would remain on site.
Anything larger would be inspected. Any material containing the asbestos floor tiles would be taken
away and properly disposed of. The rest would be crushed and used as fill. Rottlund will propose
that the owner clean it up at his expense and then they would agree to purchase the property.
Common Bond needs to start before April I' and has been looking for alternative sites in Plymouth
and elsewhere. If this site does not work out a new site might be developed by the proposed City
Activity on 34° Avenue. Supervisor Goldsmith showed a diagram of this area. The Activity Center
would be run by the City Park and Ree. The site would also include a Family Resource Center and a
bubble enclosed field house. If Common Bond has to delay this project and they get into cash flow
problems we could possibly advance them funds to cover an interim period.
Chair Crain moved to recommend to the City Council the HRH's support for senior apartments at
the proposed Activity Center site. Commissioner Pelstring seconded the motion.
Vote. 4 Ayes. MOTION ADOPTED UNANIMOUSLY.
Meeting adjourned at @:IS pm.
A
MINUTES
PLYMOUTH HOUSING AND REDEVELOPMENT AUTHORITY
February 19,1998
PRESENT: Chair David Crain, Commissioners Brad Brown and Judy Johnson.
ABSENT: Commissioners Patrick Pelstring and Brion Helmken.
STAFF PRESENT: HRA Supervisor Ed Goldsmith, Senior Clerk/Typist Barb Peterson,
Housing Specialist Milt Dale.
OTHERS PRESENT: Plymouth Towne Square Manager Melody Burnham, Jou
Thompson, Executive Director of Hammer Residences, Inc.; LaDoune Hoy Executive
Director of Interfaith Outreach & Community Partners; and Grace Norris, Executive
Director of Greater Minneapolis Day Care Association.
1. Call to Order
A meeting of the Plymouth Housing and Redevelopment Authority was called to order by Chair
David Crain on February 191h at 7:00 p.m.
2. Approval of Minutes
Approval of the January 15, 1998 minutes was delayed until the March 19,1998 meeting due to
an insufficient number of Commissioners who had attended the January meeting present atthis
meeting.
3. Resolution Honoring Former HRA Commissioner John Edson.
Discussion was held regarding what type of reception to have in honor of John Edson's service to
the HRA Board. It was decided that we would have a light supper before the HRA meeting.
Commissioner Edson will be presented with a plaque for his years of service.
MOTION by Chair Crain, seconded by Brad Brown recommending that the Board adopt
Resolution 98-01 honoring John Edson for his service as a Plymouth Housing and
Redevelopment Authority Commissioner.
Vote. 3 Ayes. RESOLUTION 98-01 adopted unanimously.
4. Public Hearing and Recommendation to City Council on 1998 Community Development
Block Grant (CDBG) Program
Housing Specialist Dale gave a brief overview of the report and agency requests. He stated that
the CDBG funding had decreased by $13,000 from the previous year. Commissioner Johnson
asked why the funding is going down. Housing Specialist Dale tesponded that it is a part of the
J federal deficit reductions. in addition to CDBG funding, the HRA also makes application for
competitive state and federal funding for special projects. Local funds are mostly committed to
subsidizing rents at Plymouth Towne Square. As more cities becoming eligible for CDBG
funds, there is less available for the current recipients. Commissioner Brown asked Housing
r•
Plymouth Housing and Redevelopment Authority
February 19.1998
Pogo 044
Specialist Dale if any changes will happen in the way we can spend the m, •-ey. No changes are
t„ expected in the near future.
Chairman Crane opened the public hearing and welcomed the representatives from the various
agencies.
Hammer Residences, Inc. Executive Director Jon Thompson presented a picture of a home
located at 2020 Queensland Lane N. It presently houses 4 disabled persons. Hammer currently
has 12 residences located in Plymouth. They would like to make this home handicapped
accessible ir.1998. He had floor plans of the home which he passed out. The entire project
would cost about $40,000. CDBG funds would cover $30,000 of the cost and they hoped to be
able to borrow another $10,000 from the HRA's Affordable Housing Account. They are trying
to keep the home accessible for those handicapped living there now as these persons age. This
will be the 5" house they have modified in Plymouth.
LaDonna Hoy, Executive Director of Interfaith Outreach & Community Partners (TOCP),
explained the agency and their involvement in the Plymouth area. More than fifty percent of the
people who use IOCP are Plymouth residents. There is a need for affordable housing, child care,
jobs & transportation. People need lots of coaching and support while they are trying to enter the
job market. They provide on-site help to people at Lakeview Commons and Regency Pointe and
need a laptop computer to use at these facilities. They have developed Project Independence
which provides used donated cars for people who need transportation. They have added a staff
person for the "welfare to work" program. They are working with Messiah Methodist Church to
develop a Daycare Center at the Church. They work with a local counseling service for people
struggling to get into the job market and receive discounted rates. IOCP is requesting $10,000
which will be used for employment help. HRA Supervisor Goldsmith asked what this will allow
them to do. It will provide workshops geared to client needs, teach job seeking skills, etc. They
will be trying to recruit mentors for their clients. Employment Action Center has limited
eligibility for its County funded programs. IOCP can provide services to people who don't fit
the limited County eligibility. Commissioner Brown asked about the housing piece at TOCP.
Andrea Brennan, former HRA Intern and Program Assistant, has been hired by IOCP to develop
their housing initiatives and staff the Community Housing Coalition that has been organized.
Grace Norris, Executive Director of the Greater Minneapolis Day Care Association stated that
there is no waiting list for day care in Hennepin County at this time. They are asking for a small
amount of money because they think there will be a waiting list by summer. By the middle of
the summer they will know if this money will be needed and if not we can reallocate the dollars
elsewhere. The funding we provide is for Plymouth families only.
Housing Specialist Dale spoke about YMCA's POINT Northwest funding request. They provide
help to runaway youth. The amount of their funding request is $2,500.
Chair Crain closed the public hearing.
Chair Crain asked about not receiving a response from PRISM. Supervisor Goldsmith said that .i
they had contacted him and indicated that they would be interested in funding in the future but
are working on internal issues at this time. They do want to be notified in the future.
Plymouth Housing and Redewlopment Authority
February 19. Mg
Page 043
Supervisor Goldsmith spoke about the TRAILS Section 8 family self-sufficiemy program and
their need for funding.
The CDBG funding becomes available on July V. Commissioner Johnson inquired about the
remaining balances and why some activities are not being funded again this year. CDGB fund
balances can be rolled over at the end of the fiscal year to provide continuing funding.
Supervisor Goldsmith pointed out that with decreasing funding and inflation fewer resources are
available for the HRA's basic mission of making housing more affordable. The HRA may want
to review the use of CDBG funds for public service activities that are not related to housing.
Chair Crain commented that the City Council may have to consider providing local support for
these services, rather than using the federal CDBG funds.
MOTION by Chair Crain, seconded by Commissioner Johnson, adopting Resolution 98-2
recommending the application and allocation of Fiscal Year 1998 Community Development
Block Grant Funds.
Vote. 3 Ayes. RESOLUTION 98-02 adopted unanimously.
S. Plymouth Towne Square Monthly Housing Reports
PTS Manager Burnham reported that the first fire occurred in one of the apartments. It was
caused by cigarettes improperly disposed of in the garbage under the sink. Fire damage was
limited to the kitchen, but extensive smoke damage occurred. No one was home at the time of
the fire. The caretaker heard the smoke alarm and called 911. The 911 operator ordered that
section of the building to be evacuated. All fire detection and sprinkler equipment operated
properly and staff safely evacuated the residents. Except for the occupants of the affected
apartment, all tenants were able to return to their apartments after the fire was extinguished.
There has been a problem with roof ice dams again. It has been found that insulation was
missing in a portion of the attic and an open shaft was allowing warm moist air to accumulate in
the attic. Walker is working on correcting this. [Since the meeting, Walker has had the original
contractor, Frans and Sons come out and correct these problems plus provide additional roof
venting in some areas of the attic without ventilation.)
Discussion was held about a resident who has been constantly late paying rent and who has been
creating a nuisance by asking other residents for money. She has been told that if there is
another incident of either late rent or harassing of other tenants she will be issued a lease
termination notice.
6. Shenandoah Townhomes Housing Improvements Financing Assistance
Additional information was requested from the 6 owners who were being considered for
J assistance from the HRA. Three owners did not respond to the requests sent to them. Two
others did not meet the criteria discussed with the Board at the previous meeting. This left only
Plymouth Housing and Redevelopment Authority
February 19, 1998
Pogo 046
one owner eligible. Another mailing will be done to find out if there are other owners who ntay
qualify. 0201
MOTION by Commissioner Johnson, seconded by Commissioner Brown recommending that the
HRA Board adopt Resolution 98-03 authorizing assistance for homeowners in the Shenandoah
Townhomes Housing Improvement Area.
Vote. 3 Ayes. RESOLUTION 98-03 adopted unanimou 4Y.
7. Verbal Update on Village At Bassett Creek TIF Development
Supervisor Goldsmith presented an update on this project. Upon the finding of construction
debris contaminated with asbestos floor tile a:r the site, a hold was put on the project. The
Rottlund Company has begun to work on solutions to the situation.. They are discussing
proceeding with development of the non -contaminated portion of the site, that would include the
46 unit low income senior development. However, this is likely to require more funding than the
City previously authorized. Supervisor Goldsmith suggested that if necessary the HRA could
provide additional funding from surplus funds. Chair Crain obtained a consensus from the other
Commissioners that although they would like to maintain surplus funds for projects that may not
qualify for City assistance, they would consider funding that was absolutely tiecessa!v. The
Commissioners also reaffirmed their support for the Village At Basset Creek development,
especially the low income senior apartments. Supervisor Goldsmith indicated that he would be
bringing this matter to the March 4t° City Council meeting.
S. Section 8 Landlord Retention and Recruitment Strategies
Housing Supervisor Goldsmith gave an overview of the Section 8 landlord participation study
which Andrea Brennan had conducted while working as an HRA Intern. Andrea Brennan will be
working with landlords to get them to participate in the 4D property tax program as well as the
Section 8 program as part of her new job with Interfaith Outreach and Community Partners. This
port is for informational purposes. Commissioner Brown asked what the consensus of this
report is. Housing Supervisor Goldsmith responded that it may sound somewhat negative, but it
does provide some very positive ideas to work with. But, we do have a lot of work to do to get
more landlords to participate. We will be looking at ways to contact and work with landlords. A
list of Plymouth landlords was distributed. Commissioners were asked that if they knew anyone
on the list, to contact Supervisor Goldsmith. Plymouth Oaks has a new owner and we are
working with him to take Section 8 residents again. Commissioner Johnson responded that if
there would be any way she could help she would be willing to do so.
9. Quarterly Report on T.R.A.I.L.S. Section 8 Self -Sufficiency Program
T.R.A.I.L.S. continues to operate according to expectations.
10. Other Business
There was no other business to discuss.
J
Meeting adjourned at 10:00 p.m.
A
MEMO
CITY OF PLYMOUTH
3400 PLYMOUTH BOULEVARD, PLYMOUTH, MN SS447
DATE: March 12, 1999 for Housing and Redevelopment Authority Meeting of March 19,1998
1
TO: Anne W. HurlbuK, Executive Director
FROM: Edward J. Goldsmith, HRA Supervisor
SUBJECT: Allocation from HRA General Fund in Support of the Proposed Village At Bassett
Creek Development, Tax Increment Financing District 7-5
Shortly before the: City Council was to approve the sale of tax increment bonds to finance assistance
for the proposed Village At Bassett Creek development on November 5, 1997, the Minnesota
Pollution Control Agency (MPCA) di: covered the presence of asbestos floor tile affixed to concrete
debris at the westerly portion of the site. Asbestos floor the is considered an "industrial waste" that
requires specialized disposal that is extremely expensive. As a result, the bond sale was canceled
and the development was placed on hold, while discussions were held to determine how this issue
could be resolved.
In response to this situation, the developer has proposed to divide the development into two phases.
Phase 1 could start construction as early as this summer on the non -contaminated eastern portion of
the site and would consist of the 46 unit federally subsidized low income senior apartments to be
developed and owned by CommonBond Communities and al-.voximately 70 townhome units to be
built by the Rottlund Company. Phase 1 would result in an estimated increase of more than
10,000,000 in property values.
Phase 2 would be contingent upon funding being available to treat the contaminated construction
debris in accordance with an MPCA approved Response Action Plan. Staff with the Minnesota
Department of Trade and Economic Development (DTED) and the Metropolitan Council have
indicated that this project would be eligible for pollution abatement funding from their agencies.
The next competitive application date for such funding would be May 1° with funding awarded in
July. These agencies could fund up to 880/6 of the abatement cost, which could be close to
2,000,000. The remaining cost would be funded by the developer and landowner.
Phase 2 would consist of development of the 30,000 square foot commercial/office building, 100
Rottlund Townhomes, and 6 CommonBond Communities federally subsidized family rental
townhome units. Phase 2 would result in an estimated increase in property values of more than
13,000,000. Phases 1 and 2 combined would include all of the elements from the previous
proposal, except for six Rottlund townhomes and result in an increase of over $23,000,000 in
property values. The TIF financing has been structured so that Phase 1 could be developed, even if
JPhase 2 does not occur.
The reservation of federal funds for the low income senior housing will expire on May 221. It will rbenecessaryforCommonBondCommunitiestoobtainanextensionofthereservationfromthe
U. S. Department of Housing and Urban Development (HUD), well in advance of the expiration
date; in order not to lose this allocation. In requesting such an extension, CommonBond needs a
firm commitment from the City as to TIF assistance that will be available to make the Phase 1
development possible. This is especially critical since we should not proceed with Phase 1 until the
HUD reservation has been extended.
The Rotdund Company has indicated a need for an estimated $2,393,000 in TIF assistance for the
proposed Phase 1. The following summarizes the developer's current estimates of costs, revenues
and financial gap:
Because we cannot be certain of funding from DTED and the Metropolitan Council for the
contamination abatement for Phase 2 at this time, we have to assume that Phase 1 can stand alone
financially. In order to provide $2,393,000 in TIF assistance for the Phase 1 development would
require increment from a 23 to 25 year TIF district. This is based upon current state property tax
classifications and local property tax rates.
In order to minimize the state penalty associated with TIF assistance, the existing TIF district may
need to be restructured to elect the local contribution penalty option. Since the current Tax
Increment district was established under the Homestead and Agricultural Credit Aid (HACA)
penalty option, election of the less costly local contribution option would require that the Tax
Increment Plan be re -approved, after holding a public hearing. This process would take 60 to 90
days.
The local contribution option would total approximately $478,000 over the life of a 23 year district.
The future local contributions could be covered by setting aside a current lump sum of $227,300.
This amount plus 6% interest earnings should provide a cash flow sufficient to make the local
contributions over the life of the TIF district, without further City funding. The City has allocated
154,800 in surplus City funds for this purpose. j
Phase 1
Land Purchase 384,000
Soil Correction 1,971,000
Site Preparation Improvements 484,900
Professional Fees and Costs 276,000
City Assessments, Fees, Permits, and Financial Guarantees 251,536
Park and Trail Dedications and Construction 112,000
Carrying and Interest Costs 324,548
Contingency 247,082
Total Site Costs 4,051,066
Sale of Homeownership Parcels 1,468,000
Sale of Senior Housing Parcel 190,000
Sale of Commercial Parcel 0
Total Land Sale Revenue 1,658,000
Financial G 2,393,086
Because we cannot be certain of funding from DTED and the Metropolitan Council for the
contamination abatement for Phase 2 at this time, we have to assume that Phase 1 can stand alone
financially. In order to provide $2,393,000 in TIF assistance for the Phase 1 development would
require increment from a 23 to 25 year TIF district. This is based upon current state property tax
classifications and local property tax rates.
In order to minimize the state penalty associated with TIF assistance, the existing TIF district may
need to be restructured to elect the local contribution penalty option. Since the current Tax
Increment district was established under the Homestead and Agricultural Credit Aid (HACA)
penalty option, election of the less costly local contribution option would require that the Tax
Increment Plan be re -approved, after holding a public hearing. This process would take 60 to 90
days.
The local contribution option would total approximately $478,000 over the life of a 23 year district.
The future local contributions could be covered by setting aside a current lump sum of $227,300.
This amount plus 6% interest earnings should provide a cash flow sufficient to make the local
contributions over the life of the TIF district, without further City funding. The City has allocated
154,800 in surplus City funds for this purpose. j
At the February 190 HRA meeting, we discussed the possibility of the HRA using surplus funds
r 1 from the HRA General Fund to assist the City with this development. The HRA could provide the
72,500 needed to complete the $227,300 lump sum set aside of finds to cover the required local
contributions.
The major direct benefit to the Zity of the proposed development is the HUD funded low income
senior housing. HUD has committed $3,344,400 for construction and approximately $123,000
annually for rental subsidies to CommonBond Communities for development and management of
the senior housing. The Plymouth Housing and Redevelopment Authority's Plymouth Towne
Square currently has a waiting list of 113 very low income senior households who would be eligible
for the HUD/CommonBond senior housing. The HUD financing provides a 40 year commitment
for the 45 units of senior housing in the CommonBond Communities proposal. Over that period
HUD would expend in current dollars up to $3,344,400 for development and $4,920,000 for rental
subsidies for a total of $8,264,400 in current dollars. In comparison, the maximum current value of
all local costs for el_w proposed TIF assistance for Phase 1 is $2,780,000.
The City has agree to provide the TIF assistance required by Phase 1 to demonstrate the
commitment needed for HUD to extend its allocation to CommonBond Communities. However,
even if the City commits to proceeding with Phase 1, we will continue to explore strategies that
maximize the benefits of the proposed development and minimize costs. These strategies include
the following:
Continue to consider other funding options that reduce the amount of TIF assistance. This could
include short term (1S to 24 month) City financing of eligible development costs at lower than
market rates to reduce the development's interest costs.
Delay action to finalize any changes to the TIF district or to issue any TIF bonds, so as to be
able to maintain the flexibility to re -structure the district, if necessary. By delaying any
irrevocable decisions, we can reduce the uncertainty associated with the development of Phase
2. This may require that the City provide short term funding (3 to 6 months) for Phase 1 that
would be reimbursed from TIF bond proceeds.
Schedule development of the senior housing so as to have a better idea of the likelihood of
proceeding with Phase 2, before committing the City to selling TIF bonds or issuing building
permits for a stand-alone Phase 1 development that would irrevocably commit the City to either
the HACA loss or local contribution TIF option.
Pursue legislation that would eliminate the TIF penalties for this development.
Given existing conditions at the site it is unlikely that it will be privately developed to generate
additional property taxes without governmental assistance. The tax increment used to repay the
proposed TIF assistance would not therefore become available, but for the City's assistance.
I therefore recommend that the Board adopt the attached resolution approving the allocation of
72,500 from the HRA General Fund to provide the necessary lump sum funding to meet future
local contributions required under the City of Plymouth's Tax Increment District 7-5.
ATTACHMENTS:
1. Draft HRA Resolution
rJ 2. Springsted Tax Increment Projection
HRA Resolution 9&04
APPROVING THE ALLOCATION OF 572,400 FROM THE HRA GENERAL FUND TO
PROVIDE THE NECESSARY LUMP SUM FUNDING TO MEET FUTURE LOCAL
CONTRIBUTIONS REQUIRED UNDER THE CITY OF PLYMOUTH'S TAX
INCREMENT DISTRICT 7-5.
WHEREAS, on September 3, 1997, the Plymouth City Council, adopted Resolution No. 97-520,
Establishing Tax Increment Financing District No. 7-5; and
WHEREAS, since approval of this District the propose2 development has been divided into two
proposed phases that will require a restructuring of the financing for the District; and
WHEREAS, a reservation of $3,344,400 from the U. S. Department of Housing and Urban
Development (HUD) for cwnstr-action of 46 units of low income senior housing as part of the Phase
1 development in the District will expire on May 22, 1998; and
WHEREAS, evidence of support from the City for the use of tax increment financing for Phase 1 of
the proposed development is needed in order to obtain an extension of the HUD reservation of
funding to make possible the development of these units in Plymouth; and
WHEREAS, on March 4, 1998, the Plymouth City Council adopted Resolution No. 98-156,
authorizing a restructuring of the proposed financing for Tax Increment District No. 7-5, giving
approval to funding for Phase 1, and allocated $154,800 in surplus City funds to partially fund the
local contributions required for the use of Tax Increment Financing; and
WHEREAS, an additional $72,500 is necessary to fully fund the required local contributions; and
WHEREAS, the Plymouth Housing and Redevelopment Authority wishes to support the
development that is to receive assistance through Tax Increment financing District 7-5;
NOW THEREFORE BE IT RESOLVED by the Housing and Redevelopment Authority In and For
the City of Plymouth, Minnesota that $72,500 from the HRA General Fund is hereby allocated as a
portion of the local contribution required as part of the financing for the City of Plymouth's Tax
Increment District 7-5.
Adopted by the Plymouth Housing and Redevelopment Authority on March 19, 1998
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MEMO
CITY OF PLYMOUTH '
3400 PLYMOUTH'BOULEVARD, PLYMOUTH, MN 55447
DATE: March 12, 1999 for Housing and Redevelopment Authority Meeting
of March 19, 1998
to
TO: Anne HurlburrT,, Executive Director
FROM: Edward Goldsmith, HRA Supervisor
SUBJECP: Loan to Advance Fluids to CommonBond Communities for HUD 202 Senior
Apartments
CommonBond Communities is the designated non-profit developer for the 46 unit low income
senior apartments that are part of the proposed Village At Bassett Creek development at
Highway 55 and Revere Lane. Since May of 19%, Commonl3ond has been working with the
Rottlund Company and City and HRA staff on this development. In November of 1996,
CommonBond was awarded a reservation of $3,344,400 in Section 202 funding from the U. S.
Department of Housing and Urban Development (HUD) to develop the Bassett Creek Senior
Housing as part of this development. Construction of these apartments was scheduled to begin in
the Fall of 1997. However, the delay of the Village At Bassett Creek development because of
the discovery of the contaminated construction debris on the western portion of the development
site has also delayed CommonBond's development.
If this development had begun on schedule, CommonBond would have received approximately
103,000 as an initial developer's fee from HUD to cover their staffing and overhead costs
related to the development. To date CommonBond has spent approximately $59,600 on
development staff costs that they expected to recoup from the developer's fee. This is in addition
to $36,593 in direct development expenses that are to be reimbursed from the HUD funding.
CommonBond estimates an additional $19,000 in development staff time and $56,700 in direct
development costs will be expended before they can close on the HUD financing. This amounts
to a total of $78,600 in development staff expenses and $93,293 in direct development expenses
before funding can be received from HUD.
Because of the delay in this development, CommonBond has submitted a request to the HRA for
assistance in the form of a $51,500 no interest loan to cover a portion of their costs until the
closing on the HUD financing occurs. The loan would be re -paid from proceeds of the HUD
financing. It is anticipated that the closing and start of construction can occur as early as this Fall
or as late as Spring, 1999. The closing is contingent upon Rottlund obtaining the site for
J CommonBond and CommonBond having all of its construction plans approved by HUD. In
addition, with CommonBond's funding reservation expiring on May 2V. CommondBond will
r
need to obtain an extension of the reservation sufficient for it to meet HUD's closing
requirements. CommonBond is ciaTently preparing a request to the local HUD Office for a six
month extension. Upon approval of the extension and execution of new purchase agreements by
Rutland for the senior housing site, CommonBond will proceed to complete its development
plans for submission to HUD. If CommonBond is unable to close on the development, it would
not be able to re -pay the requested loan from the HRA.
With the assistance from the HRA, CommonBond is hoping to be able to close on the
development financing by this Fall. Without this assistance, CommonBond may not be able to
work on the development beyond June 30, 1999. The requested $51,500 would assist in moving
this development forward and ultimately, if successful, provide much needed low income senior
rental housing in the City.
The HRA currently has a surplus HRA General Fund balance of approximately $190,000. If the
HRA approves the requested $72,500 for the local contributions for Tax Increment District 7-5,
approximately $117,500 would be available for other uses. The requested assistance for
CommonBond Communities could come from this source.
I recommend that the HRA adopt the attached resolution authorizing a no interest loan of
51,500 to CommonBond Communities for costs related to development of a 46 unit HUD
Section 202 developmec In the City of Plymouth.
Attachments:
1. Draft HRA Resolution
2. Letter from CommonBond Communities
10 .
1
r) HRA Resolution 9845
AUTHORIZING A NO INTEREST LOAN OF $51,500 TO COMMONBOND
COMMUNITIES FOR COSTS RELATED TO DEVELOPMENT OF A 46 UNIT HUD
SECTION 202 DEVELOPMENT IN THE CITY OF PLYMOUTH.
WHEREAS, CommonBond Communities, a Minnesota nonprofit corporation, has received a
reservation of $3,344,400 from the U. S. Department of Housing and Urban Development (HUD)
for construction of 46 units of low income senior housing within the City of Plymouth that will
expire on May 22, 1998; and
WHEREAS, CommonBond Communities has incurred costs in excess of $96,193 and expects to
incur aditional costs of $75,700 related to development of the aforesaid housing; and
WHEREAS, CommonBond Communities has requested assistance in the form of a no interest loan
of $51,500 to continue the development of plans to be submitted to HUD for funding construction
of the aforesaid housing; and
WHEREAS, the loan would be repaid upon receipt of HUD funding to proceed with the
construction of the aforesaid housing; and
WHEREAS, the Plymouth Housing and Redevelopment Authority has a surplus HRA General Fund
balance sufficient to provide the requested $51,500; and
WHEREAS, the Plymouth Housing and Redevelopment Authority wishes to assist CommonBond
Communities in its development of much needed low income senior housing in the City;
NOW THEREFORE BE IT RESOLVED by the Housing and Redevelopment Authority In and For
the City of Plymouth, Minnesota that the use of $51,500 from the HRA General Fund to provide a
no interest loan to CommonBond Communities for development of a 46 unit HUD Section 202
senior housing development is hereby approved subject to a minimum six month extension of the
current reservation of HUD funding for the aforesaid housing and that the Authority's Executive
Director is hereby authorized to execute on behalf of the Authority all documents and agreements
necessary to implement the aforesaid loan.
Adopted by the Plymouth Housing and Redevelopment Authority on March 19, 1998.
Cottd COWAWnBta/
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William G•scnu.
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Barham Killxnvnr. Chair
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March 12, 1998
Mr. Edward J. Goldsmith
City of Plymouth
3400 Plymouth Blvd.
Plymouth, MN 55447-1482
Re: Bassett Creek Senior Housing
Dear Ed:
1 am writing to request that the Housing and Redevelopment Authority
for the City of Plymouth assist CommonBond Communities with a
51,500 advance to pay a portion of development staff expenses for
Bassett Creek Senior Housing. Staff expenses are in addition to the
36,593 in out-of-pocket costs for this development that CommonBond
has incurred to date.
The amount requested is approximately fifty percent of that portion of
the total developer's fee to be paid to CommonSond Communities at
initial loan dosing. The City's advance will be secured by a non-
interest bearing' note from CommonBond Communities to the Housing
and Redevelopment Authority. The note will be paid from loan
proceeds at initial closing, but forgiven .if CommonBond Communities
were unable to conclude the Bassett Creek transaction.
The amount requested is actually less than estimated staff expenses.
Since May 1996, when Rottlund Homes invited CommonBond
Communities to become involved in the Village at Basses: Creek,
approximately one-quarter of CommonBond's development staff time
has been spent on activities directly related to advancing Bassett
Creek Senior Housing. Expenses to data for CommonBond's
development staff have totaled approximately $59,600.
CommonSond's property management and resident services staff
have also worked on this development. In order to complete all work
necessary before construction can commence, CommonSond will
spend. approximately $19,000 in additional staff time and incur $56,700
more in out-of-podket,cgsts.
328 Kellogg Boulevard West - St. Paul, Alinnekia - 55102.1900
l4wric (612) 291-1750 - Jax (612) 291-1003 - ivel/ rile www.commonhond.org
AnPilualOpWrtunirvlAJ tindlisrAnion1h/}mi;nli,n
Mr. Edward J. Goldsmith
9 City of Plymouth
Page 2
When CommonBond began work on Bassett Creek Senior Housing, we
expected to start construction in Fall 1997. Unexpected circumstances that you
are familiar with have delayed construction at least one year, until Fall 1998.
Since CommonBond Communities is a thinly capitalized, non-profit developer of
affordable housing, it is dependent upon the fees it cams from housing
developments such as this one to cover its on-going staff expenses. The long
delay experienced with this development puts into question CommonSond's
ability to continue to work on it beyond June 30, 1998.
If the Housing and Redevelopment Authority agrees to this advance, the note will
need to be signed and ,funds advanced prior to June, 30, 1998, the last day of
CommonSond Communities' current fiscal year. • This funding date was selected
since CommonSond has budgeted fee income from Bassett Creek Senior
Housing to support development operations during its current fiscal year.
Thank you for your consideration. Please call me if I you have any questions
about this request.
Sufcsrely,
N
Douglas yo
Director Housing Development
J
W
W
MEMO
r ! .CiiTY 1OF PLYMOUTIk •` '
a . ' 3400 PLYMOUTH BOULEVARD, PLYMOUTH,'MN 55447
DATE: March 12, 1998 for Housing and Redevelopment Authority. Meeting of March 19,
1998 . J/
TO: Anne W: Hglburt, Executive Director
FROM: Milt Dale ousing Specialist through Edward Goldsmith !RA Supervisor
SUBJECT: Application for 1998 Community Activity Set -Aside (CASA) Funding from the
Minnesota Housing Finance Agency (MHFA)
HRA staff would like to make application to MHFA for $160,000 in low interest loans
employing a consortium of six mortgage lenders for first time homebuyers in Plymouth. The
current interest rate on these 30 year mortgages is now at 5.55%. In the spring of 1997, staff
made application to MHFA for an initial set-aside of $400,000. However, only $160,000 was
expended, thereby limiting our application to that amount. This amounted to only two loans
whereas 11 loans were approved and closed on in the previous year. HRA staff may make
application for more CASA funding yet this year if the $160,000 is expended within the next
four or five months.
Criteria under the CASA program requires that eligibility be limited to specific neighborhoods or
target populations in the City. In our 1997 application, we limited eligibility for the program to
families with dependent children or disabled individuals. This is the same eligibility criteria used
in the HRA's First Time Homebuyer Program. Persons who do not meet these criteria would be
eligible to apply for similar mortgage assistance through the MHFA's Minn_sota City
Participation Program (MCPP) for Suburban Hennepin County. 1 have been informed by
Hennepin County this program could start in mid-April. Last year five first time homebuyers
were able to utilize a total of $378,064 in MHFA mortgage money to secure homes in Plymouth.
I recommend that the Board approve submittal of an application to the Minnesota Housing
Finance Agency for the Community Activity Set -Aside Program for the City of Plymouth
for $160,000 in loan authority for first time homebuyer mortgages.
VA
WALKER MANAGEMENT, INC.
MONTHLY HOUSING REPORT
Ns report is to be completed by the Housing Manager and submitted to. Janet Liddbo Chief Operating Ol%a oAerSeniorServicesat3737BryantAvenueSouth, Minneapolis, Minnesota 55409
following the report month. , by the 10th of the mond
COMMUNITY NAME: PLYMOUTH TOWNE SQUARE
NUMBER OF UNITS: 99 Independent Living Units
0 Assisted Living Units
REPORT MONTH: February 1998
Now of person completing this report Melody Burnham, Housing Manager
OCCUPANCY
A Total Number of aprrtments leased (including caretaker units) at begimring of month: 99
Total Number of apartments leased (including caretaker units) at end of month: 98
B. Occupancy Percent at and of month: "%
C. Attach Monthly Marketing Report for detailed infoanation.
D. Vacant apartment(s) for January: 0
Vacant apartment(s) for February: 0
E. Moorewin's Anticipated for. February 1
F. Move Out anticipated for February: 1
II. FOOD SERVICE: Not Applicable
M.RESIDENT SERVICES
A Attach copy of report month's newsletter and activities calendar.
B. Attach copy of report month's minutes from Residew Council Meeting.
C. Resident Issues:
Oldest Resident passed away
Catered Luncheon
Valiandoe Party
Special Craft Demonstration
Ash Wednesday Service
Pizza Party
IV. BUHMG AND GROUNDS SSUES
Finished carpet cleaning for 69 original residents
Fire in apartment 131
Wrote letter to resident regarding. asking residents for money
Wrote all residents concerning their privacy and Snancw a8'airs
Piece of siding off building
Walker out with Builder to discuss attic issues
V. HUMAN RESOURCES
Nothing to report
BUDGET CONTROs.
List any Account Receivables over one month past due and action taken:
VII. GOALS ACHIEVED THIS REPORT MANIM r ebrunry)
Finished carpet cleaning
Sign for no tum was placed on Plymouth Blvd.
Moved in new resident for Apt 103
Rented Handicapped Aparhnent 302
Started clean up of damaged apartment
Contacted Dundee Nursery for planus for residents
VIII. GOALS FOR REPORT MONTH (March)
s Mail out waiting list letter
Hold St. Patrick's Day Party
Put closure to leaks from roof
Start waiting list.proccdure
Set up recycling signs
VIE%
IFLE-571 momBEEN SEE ERA E23 EON Doi 00 ER9 L,13fmi
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EMB ME22EM B2301A ORE UN USI
RESIDENT COUNCIL
FEBRUARY 11, 1998
Members present - Barbara Buchholz, Dorris Whyte, Bettie Allison, Mari
Disch, Lee Smoots, Lil Niggeler, Harold Duchene, Melody and Kathy.
GE says we have the largest washer they make so we will not be getting
another one.
We will not be purchsing a TV for the treadmill, as there is one in the
room.
57 residents participated in the Noon Lunch in February.
67 apartnent carpets were cleaned, everyone was very pleased.
People are not putting the recycling in the correct bins. They also need
to break down their boxes. They also should use the shoots for all
garbage,
It was brought up that many of the residents would like grab -bars in
their bathrooms.
All staff will use pink slips when entering apartments.
Suggested that a large print map of Hennepin County and St. Paul
could be hung in the Activities Room.
The residents would like to have someone come and speak on "Grief'..
Lifetime Fitness needs a greeter during their peak hours, possibly a
senior.
The office needs more help cleaning up after functions.
A hand railing from the elevator to the recycle area will be installed.
Apartment 302 has been rented to a handicap gentleman.
Sturdy paper or Styrofoam bowls will be purchased for luncheon use.
MESIDENT MEETING
FEBRUARY 26, IM
Melody opened the meeting.
All the Craft item from Julie Moss were laid out for the residents to
help themselves.
i• The minutes from the last meeting were approved.
Vi Soucy brought up about possibly having watering facilities closer to
the garden. There was also a question about where $10 garden rental
goes. It goes back to pay for the building of the garden.
The Pancake Breakfast will be on Saturday and Clarice will be in
charge as Bettie Allison is not feeling well.
We are looking for 6 new council members for May. We will need 2
from each floor.
Stan Scofield the Plymouth Fire Marshall was here to answer questions
about the fire and to cover Fire Procedures.
RECYCLING - please be careful that you put your recycling in the
correct bins. READ CAREFULLY WHAT IT SAYS ON THE
BINS. You may also still use the garbage shoots even though the
trash bins are outside. Remember you must also crush all plastic
bbo t= and remove caps. New signs have been put above the bins.
We need a committee for May Month. The meeting will be March 2nd
at 11:00 in the soMam.
You can order your shirts for May month in the office. Order forms are
hanging on the door.
All the phone books by the mailboxes will be returned to US West.
The phone in the elevator is to call 911 for emergencys only.
Plymouth Creek Elementary is having a "Kids College Day" and are
looking for people who would like to participate.
We have purchased a large print atlas for the library.
Moe, from "Mosey Along WithMoe" came to tell the resident about his
many trips
J • The birthday list was read and we had cake.
PA@ ' r
J
I am happy to pass a long the news of a new resident cowing to Plymouth Towne
Square. Eleanor "Mickie" Larson will be joining us in February. She will be in
Apartment 103. She may not be physically moving in until March, but I am sure
you will see her moving things into the building.
A big thank you to everyone who has been so supportive during our dining room
Niagara Falls" adventure. Water is a very peculiar thing and whe, the leak is, is
not always where the water is coming in. I know there have been several
suggestions on how to put this to good use, but group showers is not one that I think
appropriate. Thanks for the suggestions anyway.
I also would like to remind everyone that when you use any of our common areas
for parties or get togethers it is your responsibility to clean up after yourselves
wiping down tables and vacuuming. We may start keeping part of deposits for the
time that it takes us to clean up after you.
Resident Council seats will be coming open, it is not to early to start thinking about
numing. This is a very easy and much appreciated way of helping out. A Resident
Council member attends the Resident Council Meeting once every month for 1 to I -
1/2 hours to help Management run the building. Please start considering being a
part of your community.
Hope to we you at our February 12 Valentine's Party!!! We have ordered
Valentine's Card from Cunvgt that Kathryn Lents will be selling. A great buy for
75.
114
AAML
THE XVIII OLYMPIC WINTER GAMES
The 1998 Olympic Winter Games are being held in Nagano, Japar
February 7-22. There will be approximately 3,000 athletes and officia:..
participating from over 60 countries and regions. The athletes will compete in
68 events in 7 sports (most events are for both men and women) including:
Biathlon
Bobsled
Luge
Curling
Ice Hockey
Skiing- Alpine skiing, cross-country skiing, ski
jumping, Nordic combined, freestyle skiing,
snowboard.
Skating, Speed skating, figure skating, short
track speed skating.
There are three new medal sports at the Olympic Winter Games, men's
and women's snowboarding, men's and women's ice hockey. CBS Sports
and TNT Sports will broadcast the Olympic Winter Gaffs.
The Snowlets are the official mascots for the 1998 Games. There are four
Snowlets and their names are SUKKI, NOKKI, LEKKI AND TSUKKI. The
owl, on which the Snowlets motif is based, symbolizes the vision for the
Nagano Games. Owls are cherished by people around the world as the
embodiment of "the wisdom of the woods."
The official emblem is the "snowflower" that has six petals, each a
different color. If you look closely at the emblem, you will see the powerful
and dynamic forms of athletes participating in winter sports. The snowflower
vividly expresses one of the goals of the Nagano Games, coexistence with
nature.
Nagano, Japan, the host city, is situated in a natural environment
surrounded by mountains about 3,000 meters high, known as the Japanese
Alps. The city is located geographically in the center of Japan and has a
population of approx. 350,000. Four other towns will also be the venues for
sporting events. -J
HERE ARE SOME HELPFUL HINTS,
IN CASE YOU DECIDE GO TO NAGANO!
1. There is no tipping in Japan.
2. Every room, car, restaurant, and building is HOT. They don't want the
tourists to freeze!
3. You can drink the water. It's probably better than ours.
4. The YEN is about 115 to the dollar.
5. Nagano is famous for its apples.
6. Try the bathhouses. But be sure to rinse the soap off before entering.
HAPPY GROUNDHOG DAY - FEBRUARY 2
TRIVIA)
What -is another name for the Groundhog?
Woodchuck)
What is the species, scientific name?
Marmot, rodent, or mammal)
What is the Groundhog's favorite food?
Green Vegetation)
What color is the Groundhog's fur?
Brown)
How tall is the Groundhog?
Approx. 2 feet tall)
Is the Groundhog active during the day or night?
Day)
What does the Groundhog do in the Winter?
j (Hibernates)
v Wi{h v
Tuesda Febma 24th at 1.00 iy, ry n the Activities
Room, we will have two ladies here from a group
called "FULL BLOOM." They have 18 years special
training as Recreational Therapist and go all over
spreading there talents. They will bring a craft for
everyone to make, have refreshments and
conversation. The craft they will be making is dough
art (not made from flour, nor do you bake it). It can
be made into pins, jewelry, beads etc. The cost will
be $4.00 per person for the materials. There will be
a sign-up sheet on the bulletin board, and you can
pay in the office.
My TMMYS
MARGARET FLEMMING
JODIE WYNKOOP
THELMA PAINE
SHIRLEY RUNDE
MARVEL JOHNSON
ARNOLD SEPPA
POLINA LYUBAVIN
EARL LUND
BILL LAMBIE
JEAN VON ARX
MEL WYNKOOP
1
6
7
7
8
11
13
23
24
27
28
D
APT. 228
APT. 213
APT. 227
APT. 109
APT. 226
APT. 303
APT. 203
APT. 318
APT. 132
APT. 313
APT. 213
0 Mark Moor cale"bar for rebm"412th at
too, for the rTS Valeht"e rart4 f
rlease brig a Vale"fte Carb to excha"ge
witha rTS friehb. We will rut the"i i" a
box for resitoehts to braw from
airy ` e e
SUNSHINE "ANIM
This will be a new addition to our news letter. We will try to
keep you informed about our residents who are away from our
PTS family for awhile. If you have any information that we need
to share, please let us know.
9 Arnold SenT remains in St. Louis Park Plaza,
Mae says he sometimes recognizes her. I'am
sure with one of his wonderful SMILES. Please
remember his birthday is this month, I know I
he'd love to here from you.
rJulie Sullivan -Moss is hospitilized at Methodist
Hospital after suffering a Heart Attack. She is
still in Intensive Care. We miss her positive
spirit around us.
4ttached is a new Hospital and Care Center list for you to keep
with your resident list.
JUST A REMINDER The Car Wash downstairs is for residents cars only. Please do not let your family use the Car Wash for their cars. Thank Youl
OUR NOON LUNCH WILL BE FEBRUARY 9TH. THE MENU
WILL BE - CHICKEN SOUP, SANDWICH, SALAD, RELISHES,
CHOCOLATE CAKE AND COFFEE. THE TICKETS WILL BE
5.00 AND ARE ON SALE IN THE OFFICE. THE LAST DAY
TO PURCHASE A TICKET WILL BE FRIDAY,
FEBRUARY 6TH.
Anyone interested in putting on a noon meal for PTS, please
contact the office. We will continue to have them the
second Monday of the month.
PTS has purchased new insulated coffee pots and water pitchers to
replace the ones that are missing from the kitchen. PLEASE
REMEMBER, THESE ARE THE PROPERTY OF PTS AND
SHOULD NOT BE REMOVED FROM THE KITCHEN.
FAST FACT
A recent study by Tufts University found that calcium and
Vitamin D supplements, taken together, reduce the incidence of
broken bones and fractures in older persons by 50 percent.
v
IF YOU SEE SOMEONE WITHOUT A MILE,
GIVE HIM ONE OF YOURSI
@'• GET-TIOGEMER .
The Get-together on February 18, will be. a Pizza
Party. Tickets will go on sale In the office the first
week in February. The Get-together Committee is
in need of your helpl They need you to designate
someone at your table to please buss your dishes
and clean up your own table. It would really help
the committee with the clean-up if everyone would
Just pitch in. Thank you for your help, ahead of
timet
MOVIE MADNESS
remember,, the movie has changed to Saturday night)
Pe6 7o OPERATION DUMBO DROP o A comedy adventure staring
Danny Glover, Ray Liotta and Denis Leary.
Ec6 —ma 14o PRESUMED INNOCENT o A married attorney is under
suspicion wheta a colleague he had become infatuated with is murdered. Harrison
fordp k rtan Dennehy.# Rhaul Julia, Bonnie Bedevil and Paul Infield.
Fe6ua:r 21 o SECOND BEST o A man who Beams of being a father. A
boy disillusioned with life. Together they share a compelling story of friendship, truest
and hope.
February 28 i FLUKE o A magical story of a love that spans a lifetime.
Staring Matthew Modine, Nancy Travis and Eric Stoltz.
LENT`-% ' I - l
Shrove Tuesday (February 24, 1998) is the day before Lent which
begins the following day, Ash Wednesday (February 25, 1998). the name
Lent" comes from the Old English word Ler{gihen which simply refers to
the lengthening of day and the coming of spring. Lent last far 40 days.
Sundays are feast days and therefore do not count, so Lent finishes on the
eve of Easter.
The forty days are a reminder of the time Jesus spent in the Wilderness,
seeking the closeness of God, asking Him for direction. The writers of the
Gospels tell us how the devil tried to persuade Jesus to go his way by
tempting him with popularity and power. Jesus resisted the temptation,
choosing instead a way of suffering and death.
This period is a time of reflection for Christians, a sort of "spiritual
check-up," so that the celebration of the death and resurrection of Jesus at
Easter can come out of a heart right with God. Many people still "give up
something for Lent", While others do special readings. In the past, Lenten
fasts were very serious in many Orthodox countries. During the fast, no
meat, cream, butter or eggs were eaten. People ate pancakes on shrove
Tuesday as a way of using up the eggs and cream which would not keep
until Easter. International Pancake Day is annually held on Shrove Tuesday.
NEEDED VOLUNTEER "
Refreshments for the SING ALONG. Suggestion
cakes, cookies, bars, desserts, etc.
Sing -up sheet on bulletin boardITIT
WANTED FOR THE PTS KITCHEN........
2 LARGE CROCK POTS AND A LARGE PASTA COOKER.
If you have one to donate, please let the office know.
RESIDENT MEETING
JANUARY 22.1998
Barbara Buchholz brought the meeting to order. The minutes of the last meeting
were approved.
Melody went over the Resident Fund.
PTS will again have another Craft Sale in the fall.
We are in need of new council members this Spring. Please consider yourself!
The carpets in the apartments of the people who have lived here for 3 years will be
cleaned by PTS. They are starting on January 23.
The Council Meeting date has been changed to February I Ith because of the
Valentine Party.
The February Noon Lunch will be on the 9th. If you and a group would like to put
on a simple lunch, let the office know.
PTS is need of a Volunteer Baking List. Let the office know.
If you leave a plant in the Activities Room to be taken care, please label it.
The crushed pop cans were crushed and turned in by Harold Kukar.
Renee from Back Home Delivery was here to tell us about their product and to give
the residents a $5 coupon to try it.
Tim Bildsoe from the city council was here to speak and answer questions from the
residents. He invited the residents to a Ward I meeting February 24 at city hall. Jim
Ramstad will be there. They will be talking about federal and local issues.
12/1117 Bank Reconciliation 81,898.17
12/9/97 Tdo Paper Supplies 1.08
12!9/97 Card Money 25.00
12HOW Broaster Catering 08
12/11/97 Say Allison craps 8.03
12114/97 Kobls coffee 5
12117/97 Ben Kell (computer paper ate S.
12117197 Neaft and Memorial 848.00
12/28197 Cub ncake break( 849.4
1/2/98 Bettie Allison Cub 883.7
1/5198 P ash 8
04 :& Pancake breakfast 8124.00
11&/98 Noon lunch 8232.50
1/8/98 Tdo Supplies 828.85
1/8/98 Hearts and Memorial 855.00
1111198 Harold Kukar elves($35.27)1
1/5/98 Pop can de 885.80
990.36
1121198 Card Money 828.00
1121/98 Get -t ether 870.00
1/22/98 Pancake breakfast supplies 858.8
8927.74
HOSPITALS AND CARE CENTERS
Abbott Northwestern
863-4000
800 E. 28th Street
Minneapolis, MN 55407
Fairview Southdale
924-5000
6401 France Ave. So.
Edina, MN 55435
Mercy Hospital
421-8888
4050 N.W. Coon Rapids Blvd.
Coon Rapids, MN 55426
Methodist Hospital
993-5000
6500 Excelsior Blvd.
St. Louis Park, MN 55426
North Memorial Med. Center
520-5200
3300 Oakdale Ave. No.
Robbinsdale, MN 55422
United Hospital
220-8000
333 North Smith Ave.
St. Paul, MN 55102
Unity Hospital
421-2222
550 Osborne Road
Fridley, MN 55432
University of MN Hospital
626-3000
Harvard St. at East
River Pkwy.
Mpls, MN 55455
North Ridge
536-7000
5430 Boone Ave. N.
New Hope, MN 55428
St. Louis Park Plaza
3201 Virgina Ave. So.
St. Louis Park, MN 55426
Fairview Riverside Med. Center
672-6000
2450 Riverside Ave.
Mpls. MN 55454
St. Therese Care Center
531-5000
8000 Bass Lake Road
New Hope, MN 55428
00
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MEMORANDUM
TO: ANNE HURLBURT
ED GOLDSMITH
FR.: Donne Flaato, Regional Director of Operationahmae
Date: March 1998
RE: PTS Monthly Report for January 1997
Monthly Financial:
JamxFy "i im icial Statements (see attachod).
Guest Room Rentals - Guest room rented for 1 days
Laundry - this reflects timing on emptying the machines
RS/Programs - no planned activities for January
Houeeheeping/purch Ser. - reflects cost of shampooing carpets for 2 wings
Housekeeping/Repairs - reflects having vacuum repaired and overhauled
Housekeeping/Supplies - now f edmers for all bathroom plus paper products
PO/Apt Rehabilitation- supply of paint building
GA/Auto & Travel - mileage for having MIS out to sight to adjust computers
Oceupaney/Marheting:
97 units leased plus 2 caretaker.
January Mousing Report: includes January Resident Newsletter
Plaut Operations:
69 Apartments notified of carpet claiming
Second time and appeared in North Hall
Attended Plymouth Apt Managers Meeting
Current did BackFlow Check
41 Apartment carpets cleaned
Walker came out to check ice dams
Resident Serviees:
Treadmill demonstration
Sent out hater to residents regarding resident borrowing money
City Councilmen Tin Bildsoe at Resident Meeting
Special Luncheon prepared by 2 residents
Get-together pot luck
If you have any questions, please contact me at 827-8363
CC: Janet Lindbo, Melody Burnham
VLTNBUTR TBRTB SSIm
3731 BRIAR AVM 1011
NIM EMIS. a SSW
FIMKIAL STATENERS - IAIAIAIITO
im 31'98
11 MAL --
Cl
f
PlymxmM Towns Bqum
CNINIFIDWAnollyelle
One M Ended Jmwjwy3l.IM
YTD YTD Arose1
Adud Budast Ysdanes Sudat
ITeraaes:
M Immo e 608,148 s662. N iIUM
blooff_
Toldotd Reveraea
a
X70,680 W&M
a8
264
iT,662
no
6111117.135
AdMdUW4ROMMOWWM 84 224 140) 3.613
No eNresp. I 2,676 766 679 AM
Herd Operef" A mode enoe 3.646 8.214 Clete ram
UNNO 6,096 7011 4410) 80,360
Ficipisb 6 Rutted 2.667 143 30AN
Genwg&AdmLlbftft TANTold
2A66
IHO
Opin6MExpmM 28.077 6.63Z] 1
Imam se before htWNN. Doprede6on 1 i x.981 8,183 MAN
end AnerUuUon
DepngeUon end AmaUutlon Expense 16.809 19.678 31 223.261
Means I (Lou) Defers Mfenat 29.636 21.363 8,162 307.313
Interval Expense 29.211 29.244 10) 313.600
ltd Meone OAM)
Ad)usMrodJf to Cosh Flow:
DapmWOsn 617,210 817.179 631 62000163
A xwkolm 1,398 I 0 18.78.
Dew. Ona.) b ReoNrddu 2422) 0am) 0
Dew. (Ino.) In Pnpide O'4)0 7y 0
Dur.) Mw. M AIP & Amued E*Ptm 10.007 0 10,007 0
Amsed RMI Estate Teres 1,783 IA" 136 21AN
Aaaued Mlwed Ali" 26.266 0) 313AN
Red RIM Tax Payment 0 0 0 OI2A60)
col" Mwp wmnsxds 0 0 0 6,186)
U emsrdsed 0 pwdra0sn Caste 0 0 0 0
Fund 0 0 0 0
Deposits toDOM 8WWO Fund4Mndpst MAIL) 6,333) 0) 101,260)
Deposit; to told 6avke FurdanYrest 26,211) 00144) 0 OI13.600)
Debs OWN POW ntarost Mame . 0 2.106) 2,106 26,
772+)
b AM on
1110111011011 17,18+ 310 9.87+
kwrm (DeaMM) M Cosh WA-72 A19 rlB—= 6 .207
Cuh Bdenss. E900drp avow 862M 694A98 so same
Cash ftbnc%immy 31, 1996 4.669 1 / s N
PLTRRRR Ta1R 5 isN ES
BALASCE SUFF
An 31 98
WIMITEO
WILAMI BEr
RTARR REPAIR? CBA1R2l
ASSETS:
PEM CIMI
ammt C - WeEATIOOS 1.000.00
4B.352.n
1.000.00
7%.33
0.00
10.366.00MR= - SEO11MITT DEPOSITS 33.016.27 32,000.02 121.65ACCWRTSRECEIIOIBLE-TEOOSTS 751.90) 03.90) 630.00) AOOOOSTS RELEISRBLE-Orm
INTO= RECEIVABLE
448.00 1.ncsO 8O6.SO)
PREPAID IRSmARCE - O1IEEAL
4.366.44
6.060.71
0.00
4.81.06
6.366.44
774.35) PREPAID ERPEIISE - am 1.521.12 676M OLB.SO
Toro awREI1r ASSETS R. le,T68.33 23661.36•....•
PROPERTY. PLART. All Ed1IP1EET:
Lm
WILDIM a IMMAME 5 659.267:00
5.621.612.23
659.247.00
5.621,612.23
0.0
0.00um11OR01Bam
Room a EWIP - Ronk 48,563.00
1S0,4a7.22
4O.s63.O0
Isk4w z1
Lao
0.00EWIPOW - WOOTER
I S Al EWIP - RWSHEEPIN 1.am.3O 1.%6.30 0.00
LESS ACOIOA TEO DEPR%IATIOM
1.015.15
665.408.60)
1.015.15
610.217!.91)
0.00
1T.2O9.73)
TOTAL Peopow. PIABT, a EWIPNW 5.625.250.22
6... ..............
5.612.459.95 17.209.73)
OT1144 ASSETS:
IEIESTIERTS-OOrSTIRIC TIN Pam 4O.00O.0O 40.000.00 LEO1OYES11E0TS-1100(I0a CAPITAL 177.336.03 177.336.13 0.00IR(EtIVANTS-DEBT 11MICE Rn
IRIESTI I -CAPITAL M.
619.138.35 506.561.47 34.577.0
MASOTTI= START -IIP COSTS
73.2)9.29
2.980.15
71,390.41
2.930.15
1.080.00
0.00ULIMIManul2ATlmCOIiI1135.166.56 155.166.56 0.0LESSAoOBRRATEDSOVIETIZATI0N54.536.51) 13.137.01) 1.399.47)
TOTAL OTTER ASSETS 1.013.316.07 970,267.58 35.O66.W
TOTAL ASSETS 6,750.800.%
s
6.669.67586
asem
61.671.10
mese
OMIT owe on
11011111 012/31/91 CINNINII
iemTinwd) ........... .........
LUBILIT[ES Atm Rsb BALANCE
COB1114T LUBILITIES:
ACOMM PATABLE
ACi1M SALARIES A% 1111111;
9.078.8
6.391.40
5,706.11
1.1106.28
6,172.06
6,5116.60AaILISDINTESEST10L.973.00 10.731.23 ffi.863 15ACCMLMmREALESTATETARES
ACC NNS 26,"2.01 2,279.11 1.7%.10EIM60BEI
MTCUU MATURITIES - LOMB TEM
0.670."
100.000.00
7,510.36
100.000.00
1.152.011
0.00UMITVMTLISTIN "NITS 31.666.91 31.550.36 9&S7
TOTAL CIMVIEMT l[AB[lIT1Et 28S.67S.W 2L7,S91.it .. ..... 311,033.%
LOMB I= OE0T:
BOmS PATABLE S.Q3.m.oO 5.423.000.00 0.00
TOOL I=TMOWS.2S.000.00 S.Q3,Ow.00 0.00
RIND BALANCE:
CONTRUIIIEO COITAL
PARTNERS' OEIICIT
1,000 000.00 1.000,000.00 0.00
OSEMETIRCOoCL) 16,8Bt.75
3.291.16.
16.8BL.15
0.00
0.00
3.291.16
TOTAL Pie Bunn 1.CO.115.RP 1,016.8BL.73 3.291.14
TOTAL IIABIlIT1E1 8 BRIO BALANCE.......
mme.ase..
I.......
6.640.675.06
momma
61.315.10
OTE:
AM11BT 8ER
IRA ItmIV101R1 S IDT
VACANCY -CRETA
YAMAR FACTOR - AMMM
VACAICI FACTOR - 3MIN
VACANCY - CARDAMOM OA9AA
0ALVA RENTAL
8EAO13 RINT
08EST A AEIITAL3
NISCRAM EM
INIEUNM IME
TOTAL 01111111131
ERR:
AE3IOEIR 3ERVICE3:
MISCELUMM
AE mm P80HRM3
SWKIE3 - 6BMK
TOTAL MMM 3903
60116 in:
3ALANIE3
E90eFITS
IMM. sm-R
main Alm NAIIIfewn
SUMIE3 - OREM
TOTAL NOIN6
PLTI TORN: BRRAE
NTATTRNT OF EARNIN66
1 10163 E69® den 31 69
1TR.2 2ARRAtB IND.
of M. Ol3!!RH 9969
ORRmITE1
11.116.00
0.00 261.57!.09
cuum
15.461.00-
126.10
VAN. It TIO 110
0.00
NONTN sow VARIA m OF M. ACTLR L BOIiET valA
13.010.00 43.698.00 0.00 0.00 43.090.00 43.090.06 0.00
21.191.00 21.794.00 0.00 0.00 21.794.00 21.191.00 0.00
I.W.w 1.307.00- 0.00 0.00 1.307.00- 9.307.00- 0.00
92.15 319.00- 111.15 126.10 12.15 319.00- 441.15
191.00- IO6.88- S.00- 2.69 191.00- 166.69- 5.00-
50.00- 50.00- 0.00 0.00 50.00- 50.00- LN
1.775.00 1.725.00 0.00 0.00 1.125.00 1.78.00 0.00
125.00 125.00 0.00 O.M 125.00 123.00 0.00
5.00 70.00 35.00- St.00 35.00 70.00 5.00-
826.SO 650.00 23.50- 2.76 886.50 80.00 23.So-
0.00 90.00 90.00- 100.00 0.00 90.00 90.00-
4."1.89 2.170.00 2.263.00 103.94 4."1.69 2.10.00 2.263.69
70.569.51 60.030.00 2.S51.S4 3.75 TO.S69.S4 60.036.00 i.81.i1
1TR.2 2ARRAtB IND.
of M. Ol3!!RH 9969
0.00 11.116.00
0.00 261.57!.09
0.00 15.461.00-
126.10 4.12.00-
2.60 2.221.80-
0.00 400640-
0.0 20.700.00
0.00 1.500.010
SOHO 1.715.00
2.76 10.200.00
100.00 39LOO
103.94 26.629.00
3.15 01.135.00
0:00 20.00 20.00- 100.00 0.00 20.00 20.00- 100.00 260.00
7.12 106.00 96.88- 93.15 7.12 101.00 96.00- 96.15 1.013.00
77.03 169.00 22.91- 22.91 17.03 169.69 2=.916 23.91 1.560.00
66.15 216.00 139.63- 62.43 86.15 MOO 139.65- 62.43 3.613.00
8.88- 61.31 130.12- UL09 8.08- 69.31 136.42- 166.69 1.800.00
6.26- 12.50 20.76- 166.08 0.26- 12.50 70.16- ULU 150.69
2.325.43 1.500.08 673.41 4.90 2.373.43 1.508.00 68.43 4.10 10.100.88
74.21 50.00 26.21 40.42 74.21 MOD 26.21 48.42 200.00
340.40 150.00 190.40 16-9s 340.40 IS0.00 190.401 126.93 2.500.00
2.674.70 I.M.6i 070.86 48.91 2.674.70 1.100;.61 610.66 46.9x, 13.960.40
CNS 11AR. i m TIO M.% aluall 1906:
POSTS 9MIANXXE OF MD. AC1Ml E MGET MIAN E OF M. BID 1906
lemtin:R69 8,...
PLANT OPERATIONS JIM MINTtSINIX!t
SALARIES 964.30 1,34;.00 461.62- 33.31 926.30 1,366.00 461.62- 33.31 16,639.00BENEFITS116.64 206.00 69.36- 33.35 130.64 206.00 69.36- 33.35 2,496.00APT. REHABILITATION 577.64 75.00 102.64 136.05 171.64 75." 102.64 136.85 1.000.00CANETAN03tALLgMNCES50.00 50:00 0.00 0.00 50.00 50.00 0.00 0.00 600.00PNARCN. S9CS-BLOB 1.399.57 2.7m.00 1.320.43- 40.55 1.39P.S7 2.720.00 1.310.43- 46.5 31.786.00REPAIRS6MINT. 60.34 700.00 619.66- 63.52 00.34 700.00 6".66- 86.52 6.500.00SR/PLIES - GENERAL 247.82 450.00 202.18- 93 247.82 450.00 202.10- 96 4;500.00TUNEENOROLL526.50 575.00 46.50- 6.43 SUM 575.00 46.50- 6.43 7,350.00NISCELLAREMM0.00 50.00 50.00- 100.00 0.00 50.00 50.00- 100.00 1.000.00
TOTAL PLANT OPERATIONS 3.544.89 6.214.00 2.669.11- 42.95 3.5".69 6,214.00 2,669.11- 42.95 73.030.00
UTILITIES:
WILITIES-EL:.C. 1.600.78 1.629.00 28.22- 1.73 1,600.78 1.629.00 25.22- 1.73 63.80.00UTILIM-GUMIL 3,316.57 S.512.00 2.195.43- 30.85 3,316.57 5.512.00 2.195.43• 39.81 26.000.00UtILIT1ES-wRTER 777.29 770.00 7.29 0.95 777.29 770.00 7.19 0.95 11.000.00
TOTAL UTIL'ITES 5.694.64 7.911.00 2,216.36- 20.02 5.694.64 7.911.00 2.216.36- 28.02 60.3!x.00
PNOPIM AND RELATED:
AN0RTI7ATION 1.39P.47 1,399.00 0.47 0.03 1.399.47 1.309.00 0.47 0.00 16,786.0009MIATION17.109.73 17,179.00 30.73 0.18 17.209.73 17.179.00 30.75 0.10 204463.00INTERESTEXPENSE26.243.75 26.263.75 0.00 0.00 26.243.75 26.20.75 0.00 0.00 313.500.00INSURANCE- SIX TV 7/4.35 766.00 8.35 1.09 774.5 746.00 8.5 1.09 9.414.00REALESTATETAXES1.781.10 1.646.00 15.10 8.20 1.783.10 1.648:00 15.10 8.20 21.400.00W® FEB 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
TOTAL PREPERTT 9 EEL. 47.410.40 47.25.75 174.65 0.37 47,410.40 47,25.75 174AS 0.37 567,665.00
OEM VRA. X TT0 To VRRA JAON18T 19111-
atom VARIANCE or M. ACTUAL B186ET 18@IANCE or M. 4Eeal61 1998
BUDGET:
GENERAL AND AONIBIBTMTSVE:
SAMeIES-NQ 1,7K.41 1,)72.50 11.91 0.69 1,714.41 I,7i2.50 11.91 0.69 21.M.00
SAM IES-A01NN 1.374.46 1.388.00 13.54- 0.98 1,374.46 00 13.54- 0.90 16.757.00
BENEFITS' 467.6 467.50 0.35 0.07 467.85 467.50 0.8 0.07 5.700.00
NOR es OW 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ADVERTISING-PERS. 0.00 75.00 75.00- 100.00 0.00 75.00 75.00- 100.00 600.00
AUDIT 8 AOOSUITINS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4.100.00
AUTO AND TRAVEL 61.23 50.00 11.23 22.46 61.23 50.00 11.23 22.46 600.00
COPIER LEASE 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
BASE SERVICE CBATKE 0.0 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
WATER SERVICE 0.00 25.00 23.00- 100.00 0.00 25.00 25.00- 10.00 300.00
DUES 8 WAMIPT. 94.88 1,163.00 1.068.12- 91.84 _ 94.08 1.161.00 1,068.12- 91.86 1,186.00
TAX PREPURTION FEES 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
INTE1M-SEC. OEP. 77.17 74.00 3.17 4.01 77.17 74.00 3.17 4.28 808.00
IXiNEB'S COX9. CLAIMS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
LEGAL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
LICENSES Alm PERMITS 0.00 90.00 90.00- 100.00 0.00 90.00 90.00- 100.00 615.00
NANASENENT FEES 3,307.30 3.293.00 14.38 O." 3.307.38 3,293.00 14.38 0.44 39.525.00
INSIiANLE 9310K 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NMI= 8 SBIIURS 0.00 300.00 300.00- 100.00 0.00 300.00 300.00- 100.00 1.240.00
POSTAGE 9.67 70.00 60.33- 66.19 9.67 70.00 60.33- 56.19 1.100.00
PRINTED OO lclkT10115 7.41 50.00 41.59- 05.18 7.41 50.00 42.59- 0.18 900.00
PURCR SERVICES K.10 120.00 75.90- 63.25 K.10 120.00 75.90- 63.25 1.200.00
LEAD B - DATA INPUT 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
REPAIRS 8 PAINT. 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 150.00
SPECIAL EVENTS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 350.00
SUPPLIES 126.02 105.00 21.02 20.02 126.02 105.00 21.02 20.02 I.M.00
TELE 463.68 465.00 1.32- 0.28 463.60 468.00 1.32- am 5.500.00
NISELLAMM 111.36 50.00 61.36 122.72 111.36 50.00 61.36 122.72 600.00
TOTAL GENERAL 8 RONIN. 7.880.62 9,518.00 1.605.38- 17.11 7.089.62 9.518.00 1.6211m- 17.11 5.886.00
TOTAL OPERATING E10'EIISES 67.298.40 72.898.59 5.600.19- 7.68 67,298.40 75.898.59 5.600.I9- 7.68 841.292.00
EARNINGS (I=) 3.291.14
emaems
4.660.05-
00540544 etm mm
8,151.73 167.71
s
3.291.14
mesmm
4,860.59-
0500505
8.151.73
05!3005
167.71
see
6.1S7.OD-
mm®
Ir
Y a
PL1NMn >m N
MY UTAW mmm own
o0OlE0f0Ut, 101 sun
fl0 IAL OTAMUM - 0001011i®
ON 319?
FinJ — ARe- Ldwq ,T@ clfy
Ln
44
Pf OIM Tann 64u
CUbFimAmdp b
Twdn MOWN Ended Dwmd w 21.1887
YTD
Aduld
YTD
Budget Vaft=
Amari
Budget
RswlwMs
Renbl Nognls 8770M 8771,840 7,418 8771,840
W PA
l.ingogrr
TdatMReoWlwe
s17 21.78819,904
W.412
aim
5703AU
EapawW
AdMin Wal Redfield Berton 821 3A02 on) 3A89
IaleMleepYq 12,914 18,898 4:784) 8,418
FIN OpWadolu a mjkd lee 87.212 81.291 6.191 8,.281
ulmn 49.W 80Aoo 10A03) e0A0o
Rowl r a Rdded 22,100 22,988 IAN AM
OYIwd a Adn*d*WW 100.904 12.8111 1103.018
Tom OpWMll a Enpe 288,818 14,270) 280.988
bleaWe beton Inenret, DWede0011 912A40 41,782 612A40
We9AWodbsdm
DepoeW8o11WWA111WtlnUMENPM 222.290 223.122 872) 223.121
bleellle/aoa)BdonlldWeet 331.972 289,318 42AN 289,318
bdenM Elge No 31&773 318.740 33 318.740
Net b1oWe418 13 2 M 2 022 422
A49dm Wno to Cob Flew:
DepedeOm MAN 208.322 8888) 8208,222
Amo d dm 16,784 18,791 0) 16.794
Deer. O W.) N RoNM Ne 2) 0 2) 0
Dear (IRW.) h P1 3919) 0 3.919) 0
Mlw.) Ivor NNP 8 Awnrd EQt 5-00 0 6.002) 0
AoeWed Red Eddo TW nA28 MAN 823 21.803
AoCnW InNnd 216.772 0 216.772 0'
Idol EeNN To P47mwd 21.812; 21,802) 91 2103)
Com, WIN m In 12900 22.700) 9.600 22:700)
0
Fund 0 17,000 17,000) 171000
DeOepIN b Debt 8wdm F1sid lla?ptl MOM 02.902) 2 02.902)
Depodb IoDebt 8wem ftndd tW 314772) 0 318,773) 0
Debt'8WAWRnd4i9mntbleonro 40,027) 20,879) 20.04/88) 20.879)
ftw8lbmKdwcwwkwwAnwft
8ub1oW
21,3421 Inns)
79,390 199,802) 57DAN
bwerw M Ceeh 9.028(6113.180) 44=
CNh 8dwge, O"bmft of Yw 812&219 6125A49 m 812&341
Cash BeNI)ge, Deoembv 21.1417 02002 179 1131 sites
Ln
44
PLTIOITO TO= E61tA0E
0AIAMCE OOEET
On 31 97
OLYOIVID
AOfEis
Ow010IT MET
IgT0 012/31/96 CUM
1iKOT AOEETO:
PETTY CAOO
CECOtO6 - OPEIMIil0O5 • 1,000.00 1.000.00 0.00
X 20.200.53 03.563.20 60.57.76) S
ACCOIuTO RECEI9A0LE-TELUTs 32.000.02 30.705.63 2-IOS.3P
OECE19AOlE-
MnAL
93.90) 256.00 359.90) R
PWAI11Is 1.254.50 902.05
PUMIO EwIwII oi0E0 4.04.06 S72.41 4.2a.0
676.32 904.40 310.00)
TOTAL CtIIWIT AO4ETO 60.700.5 R0.07i.40 59.306.15)
ON VT. PLAN. AX IWIP EMT:
im
450.247.00 650.267.00 0.00
LAS IIPOWA3M iO S.Q1.612.23 5.613.912.23 7.700.00
1500 0 MIP - GEEM 40.543.00 60.50.00 0.00
mIIBT - Comm 150.407.22 1S3.207.S4 5,199.60
L7L1O 0 MIP - NOIOESEPIO6 1.04.30 1.014.30 0.00
LEOO ACCIOOOAT® OMMICIATION 1.015.15 1.015.15 0,00040.asm) 062.023.07) 0205.455.00)
Tota P AaPEMn . PM. 0 E00IPOEMT 5.642.459.95 5.05.016.15 190.556,20)
OT010 AOEETO:
INVIDI M-0006TO WIN ROOT
IOiEsiNMS-t Im CAPITA 40.000.00 0.00 40,000.00
INKST EMTs-OEOT sa9MP. nAo 177.336.03 0,00 177.56.03
IO CAPITA it.. 501.541.47 639.733.37 55.191.90)
AMTIZID101001RTI2EO OTAANIZAT-UP COSTO 71.390.41 47.060.09 X.341.02
1MIM Tt2E0 COSTO 2.0!0.15 2.930.15 0.00
IEOO ACOpOAi® AAOOi17ATtarATOOrGAA110ITI 155.166.56 1SS.166.S6 0.0053.137.06) 036.343.5) 16.793.69)
TOTAL OTAEO ASUTO
000.55.32 100.690.26
TOTALATMs
970.X7.60
6 6 8.170.09)
taMlnmd)
LIABILITIES AND RIND BALAOLi
ammm BALANCE MET
awe 012/31/96 CMAMMI
t)RR9T LIABILITIES:
ACcmm PATABLE S.T06.17 9,033.52 6,127.35)
ACC11111) SALMIES AND IRCAS 1.005.20 6.507.40 6.102.12)
ACOIwED INTEREST 1B.731:2S 00.013.75 1.202.50)
ACLS E31 REAL ESTATE TAXES 22.279.71 21.360.33 916.30
AOa1Aea E1Qi75ES 7.510.36 5.575.90 1.961.66
CURRENT MIIRITIES - LAAO TERN 100.000.00 90.000.00 10.000.00
SECIRITT/MRIT LIST DEPOSITS 31.550.36 29."S.66 1.0116.60
TOTAL CURRENT LIABILITIES M7.591.11 262.960.76 6.630.35
I= TERN BEST:
B01RS PAYABLE 5.625.000.00 5.525.000.00 100,000.00)
MAL LOBS TERN OUT 5,623.000:00 S.S2S.000.00 100.000.00)
IMBALANCES
COMIBIRR® CAPITAL 1.000.000.00 1.000,000.00 0.00
1Mtl m DEFICIT 3,603.19 3.685.19 0.00
BET IBCOE (LOSS) 13.199.56 0.00 13.199.56
TOTAL NRp SALAOC[ 1,016,006.75 1,000.605.19 O.1".56
TOTAL LIABILITIES 0 M BALAM(E 6.609.675.06
OOpi OS6Y
6.771.665.95
YtYgiYYi
02.170.00)
y
FLTNNNN Mm SNMI E
STATENNT OF EANNIM
12 NONTOS I me Dec 31 97
UUMITNO
aMOBIT Va. 3 TTD TI0 11211.11 SOW 1V17-
oNITN MNSEI 9A RANCE mom. ACTUAL EINaT 9ANIAM of W. oETAINEN 1917
iOiiiT. -
NE9EME:
AFAOTINIIT NBT 0.625.00 0.626.00 0.00 o.oD S11.50D.OD 511.500.00 0.00 0.0 SII.SOO.00
NFA INDIVIOWL YMSIOT 20.6/5.00 m.615A0 0.00 0.00 M.2m.00 26/.2m.w 0.00 0.00 M.M.w
VACART-CYETAIR 1.275.00- 1.M.W 0.0 ILO 16.610.00- 15.300.00- 6Eo.0 6.S1 IS.3111.00-
9AaNCT FACTO - AFAtlIB 567.00 350.37- 925.37 250.22 S.M6.20 6.300.00- 9.7{6.20 00.61 6.300.00-
VACANCT FACTO - MMD109 572.00- 175.00- 307.00- 226.06 6.601.00- 2.100.00- 6.301.OD- 200.62 2,100.00-
VACMW - CANETAIn NAIAO 50.00- S0.o0- 0.0 0:00 575.00- 600.00- 23.00 6.17 600.00-
MMIE NUTAL 1.725.11 1.725.00 0.11 0.01 20.615.11 20.700.00 26.89- 0.12 20.700.00
NFANIr SN01 HENT 123.00 125.00 0.00 0.00 1.S0.00 1.500.00 0.00 0.00 1.500.00
OIENT NOMI MENTALS 315.00 265.00 70.00 MST 2.520.00 1.50.00 1.01S.00 a." 1.505.OD
UUMIT 1.901.00 MO 1.06.00 126.00 10.669.60 10.m0.00 60.60 6.61 1o.m0.00
111SQLLANI00S 15.00 6S.00 30.00- 66.67 215.00 315.00 100.00- 31.75 EVSAM
IMIEEIIdt (1100IE 6.00.70 1.677.00 6.365.70 260.33 61.782.13 21.720.00 19.996.13 91.77 21.700.00
TOTAL NEIETAES 72.106.01 66.110.63 S.900.10 9.06 em.N39.N6 793.6m.00 27.611.06 3.65 795.08.00
ENIENSES:
NESIKIT WMCES:
NISCILLAMIN 0.00 20.00 20.0- 100.00 201.39 260.00 30.61- 12.75 260.00
NESIOBT T90NNAM 362.71 250.00 92.71 37.08 1.523.61 1.743.00 221.39- 12.69 1.743.00
SIlFLIES - F6NE0AL 67.97 300.00 232.03- 77.36 1.09o.29 1.500.00 601.71- 26.70 1.500.00
TOTAL 0151000/ SVCS 610.68 570.00 1S9.32- 27.96 2.61.29 3.665.00 653.71- 18.76 3.66.90
N011ll 1111:
SALARIES 11.13 066.00 656.07- 0.68 7.383.26 9.796.00 2.612.76- 26.63 9.796.00
MPITS 1.67 186.00 186.33- 99.10 1.m6.9s 2.152.00 965.03- 43.91 2.152.00
PON. E9a-11106 0.00 0.00 0.00 0.00 3.ms.66 6.20DA0 916.36- 23.67 6.210.00
NEFAINS ANDIMI 0.00 0.00 0.00 0." 6:40 Ma m0.011- TO." m0.00
UMIES - OTNBAL 05.68 ISO.00 275.68 183.65 2.10.69 4350.6 202.31- 2.61 2.350.9D
101L NNNiEIIOINB 438.28 1.182.00 743.72- 62.98 13.943.56 18.618.00 6.756.66- 15.43 18.618.00
o llEll MIR. ! I'm Tm 2612.13 AAMINAT sm-
HMO AOEET mum OF BID. ACIIML OM U 9ARIARCE OF 010. OECEIEER W1h
bcmtlnu
PWT O T1000 AND MIRTFWCE:
SALARIES 703.15 723.00 60.15 4.12 6,165.96 5.923.00 M0.96 6.07 5.923.00
BENEFITS 117.47 159.00 41.53• 26.12 964.SZ 1.301.00 336.44- 23.06 1.301.00
APT. REOAOILITATIOS 0.00 130.00 150.00- 100.00 026.69 1.000.00 973.31• S{.O7 1.000.00
CASETAXE\ ALLOYIIOCES 75.00 SOAR 23.00 50.00 05.17 600.00 116.13- 19.16 600.00
PA=. S9C0.OL00 1.SS1.14 2.365.00 033.06- 36.96 27.417.54 30.215.00 2.797.{6- 9.26 30.21S.00
RH0R0 A MR. 1.316.76 700.00 616.76 00.11 10.432.09 0.sova 9.932.0 116.06 4.500.0
OXPPLIES - SHIM 470.92 300.00 170.92 56.97 4.043.79 4.500.00 466.21- 10.36 4.500.00
TMOI IINOW 307.02 515.00 107.10- 32.SS 6.742.60 7.150.00 407.40- 0.70 7.150.00
I110CELLARE0IM 0.00 50.00 50.00- 100.00 2.272.s2 1.400.00 072.62 62.32 1.400.00
TOTAL FAIT OTERIITIORS 4.702.26 5.002.00 309.74- 7.60 67.341.60 61.301.00 5.950.60 9.69 61.397.00
UTILITIES:
WILITIES-M. 2.065.22 1.700.00 365.22 21.40 19.S19.0 21.500.00 1.900.20• 9.21 21.500.00
4111LITEO.OA9/OIL 3.300.02 2.400.00 900.02 40.07 20.727.70 27.000.00 6.272.22- 23.23 27.000.00UIILITIES-WER 1.224.06 1.000.00 226.06 22.49 9.749.00 11.900.00 2.150.12- 10.07 11.900.00
TOTAL UTILITES 6.670.90 5.100.00 1.570.90 30.0 49.907.46 60.400.00 10.402.54- 17.22 60.400.00
P001lRTT AND OELAT®:
AEMTURTIO0 1.31P.44 1.400.00 O.S2- 0.06 16.793.69 10.000.00 6.31- 0.06 10.000.00OEPRECIATIOS17.175.23 17.243.00 67.77- 0.39 M.4n.00 206.32=.00 066.12• 0.42 206.322.00IRI6ESTINNISE26.263.75 26.226.00 19.75 O.OB 310.772.1 1 310.740.00 32.50 0.01 310.740.00
iRMOANCE-P Iffy 793:00 1.063.70 269.12- 25.32 9.673.00 12.316.0 2.722.20- 21.90 12.396.0DEALESTATETAXES1.065.59 1.794.00 72.59 4.06 22.426.23 21.60.0 023.23 3.01 21.603.00SONDFEES0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0 0.0
TOTAL PROPERTT 0 REL. 47.477.93 47.723.00 265.07- O.S1 573.122.10 575.441.00 2.730.90• 0.40 575.061.00
M
iSooBT i997- Till961.1
OS95ET vallmOF GID. One= 1997
MGM son? - 9A11ASCE OF BID. ACVIML.....-.. T. .
Mins
a BID 6OIIlO1ETYT111E: 0.0 2.60 20.003.71 11.511.00 1.6i2:7t 0.06
10.07
10.511.0
17.662.00
SKMIEs-M 1.00.69 1.143.0
1,626.00 133.66- 0.22 15.706.15 11.662.0 1.7s7.OS-
2.109.0- 27.6: 7.V14.00
awla-60010 1.612.x
766.00 20.03- 33.61 5.766.16 7.916.00
0.00 0.00 0.00
OEBEFITB
693.95
0.0 0.00 0.00 0.00 0.00 0.0
600.00 1.0901.60 273.35 600.00
01m•s 0>r 0.00 SIX 33.37- IOO.N 1.611.60
6.200.00 20.00• 6.70 6.20.0
6111NTISIR-PNS.
0.0 0.0 O.N 0.0 6.00.0
600.00 115.99- 19.11 60.0'
61o1T 0 Aawmli
30.10 50.00 16.90- 29.00 606.01
0.00 0.00 0.0 0.00
MONO An TWEL
0.00 0.00 0.00 0.00 0.00
0.00 0.0 0.0 0.00
COPING LEASE
0.00 0.00 0.00 0.00
300.00 10.20• 32.8 X00.0
B6R iE191ii CIOESE
20.00 25.0 6.60- 7.
00
11.60 201.00
1.130.00 29.20- 1.130.0
0110tH I63t9ICE
0.00 0.0 0.00 0.00 1.100.00
0.00 0.00 0.040.00 0.00
NU 0 OIAMIM-
0.0 0.00 0.00 0.00 0.00
3:76 0' 90.0
161 P11EF61ATIOB FEES
70.09 15.00 3.00 5.19 x
ax 0.00 0.00
IOTE0N1-UC.ON.
0.0 0,0 0.0 0.00 71.06
O.0 0.0 O.N 0.N
VmM,S COW. CIA=
0.00 0.00 0.0 0.0 0.0
STS.N M.35- x.15 S1S.N
tit
LICISSN AND P011TS 0.N. 0.00 0.0
13.77-
O.N
0.63
60.65
71.932.92 31.SM.0 370.92 0.96 31.502.0
O.0
miOT me 3.200.23 3.222.0
0.00 O.N 0.N 0.0 0.N O.N
1.0 1.200.00
IISIOIru 0.0 O.0
0.0 0.00 0.0 1.213.53 1.200.0 13.53
331.62- 30.0 I.M.00
1NT110 i 6HIIYlS 0.00
63.66 97.56 762.30 I.Oii.00
M.69 720.0
am 10.66
11.11 60.
0
60.0.0 20.66- 11.60 sa.O1 TALOO
1.M9.00 66s.a- 11,11 1.699.0
P1IOM tt•00oIC*T1aS
M.1O 117.0 72.10. 62.31 1.112.13
4.10 0.0 0.N 0.00
PAW SNPIC6
Law 060 - DATA two 0.000.0 0.0 0.0 0.0
0.0
0.0
170.0 10.0 10.0 mob 100.0
30.0
BRAIN 0 NATO. 0.0 0
260.0
0.0
87.0-36,21 610.96 3 00.0 118.96
66.W
39.61
S.Si 1.20.0
OEC16L EMM 153.0
06.19 moll x.19 x.19 1.139.11 1.20.0
53.91- 1.0 5.600.0
SO/oun
440.19 4SO.00 9.11- 2.02 S.3N.O2 5.60.0
600.0 121ST- 20.76 600.0
1E4+%
70.60 5O.0 22.60 65.20 68.43
IIISISIAROR.............
S.SO 1N. 606.19 109.013.06 2.61O.M- 2 S3 011.01109.......
TOTPI 6Elm 1 MISO. 0. 0.602.37 4W.T7-
60.209.37 666.10- 07.660... 0...030.0 IS 209.T0-
TOT6L O1N6TIN 00 3 67.62.65 3.119_..
0
41.61M.S6 1".46 29.612 0•
6.2x.16 2.190.76- 6.6x.90 290.19 13.119.116 20.622.00•
mins t1O557 aes
W
Ij
MEMO
CITY OF PLYMOUTH
3400 PLYMOUTH BOULEVARD, PLYMOUTH, MN 55441
DATE: March 12, 1998 for Housing and Redevelopment Authority Meeting of
March 19, 1998
TO: Anne W. Hurlt , Executive Director
FROM: Edward J. Goldsmith, HRA Supervisor
SUBJECT: NOMINATION AND ELECTION OF OFFICERS
According to the HRA bylaws, the election of officers is to take place at the time of the
annual .meeting in March of each year.
Currently, the officers for the Housing and Redevelopment Authority aro held by the
following:
Board Chair David Crain
Vice -Chair vacant
Secretary Pat Pelstring
I recommend that the Board nominate and elect new of leers.
7
is
City of Plymouth
1997 Affordable Housloa Adlvlth's
During 1997, in addition to the on-going management of the Plymouth Housing and
Redevelopment Authority's (HRA) federal Section 8 Certificate and Voucher Programs and the
Plymouth Town Square senior apartments, the City continued to support the development of
affordable housing within the City. Significant accomplishments during the year included the
following:
Shenandoah Woods Amwimetds The City granted land use approvals for 64 mixed income
one, two, and three bedroom apartments to be constructed at 22n0 Avenue and Shenandoah
Lane. This development will include 6 Metropolitan Housing Opportunity Program (MHOP)
Public Housing units (946). 18 units (28%) affordable to persons up to 50% of area median
income, 22 units (35%) affordable at 600 of median income, and 18 units (28%) at modest
markets rents. The City also approved $100.000 in federal Community Development Block
Grant funds to assist this development. Construction is scheduled to start this Spring.
VilI= At Bassett Creek The City created Tax Increncm Financing District Ne. 7-5 at
Highway SS and Revere Lane as a Housing District to support development of 176 modest
cost townhomes (68 [39%) of which would sell below the Metropolitan Council's $120,000
threshold for affordable housing), 46 federally subsidized apartments for low income seniors,
and 6 subsidized MHOP rental townhomes for low income families. The townhomes would be
developed by the Rotdund Company and the rental housing would be developed and managed
by CommonBond Communities. The City authorized the sale of up to $3,290,000 in TIF
bonds to make this development feasible. The developer is currently working with the
Minnesota Pollution Control Agency (MPCA) to address the presence of concrete debris on
the site that is contaminated with asbestos floor tile. If the developer, land owner, and MPGA
can agree upon an affordable means of treating the contamination: the development should be
able to begin this Spring.
At the Lake Apartments The City issued tax-exempt housing revenue refunding bonds that
financed the purchase and rehabilitation of this 27 year old 204 unit apartment complex at 26M
Avenue and Lancaster Lane. As a condition for this financing, the City required that the
development include 20 units (10%) that would be affordable to eligible applicants at or below
30% of area median income. This is a more stringent requirement than is required by either
state or federal guidelines and produced more truly affordable housing, than would have been
otherwise provided.
Shenandoah Townbotnm Houshur Improvement Area The City created this Housing
Improvement Area in response to a request for assistance from the Nomeowners Association
and a petition from area homeowners as provided for in state statute. The City has agreed to
issue $1,670.000 in taxable general obligation bonds to finance needed re -siding and related
improvements that the Homeowners Association cannot finance. The Shenandoah Townhomes
consist of 219 affordable homes with assessor's values from approximately $60,000 to
J $98,000 and an average value of approximately $72,800. The City's assistance will preserve
these affordable homes in the City. The Plymouth HRA was successful in obtaining $178,080
from the Federal Home Loan Bank through the assistance of the Franklin National Bank to
subsidize the cost of the proposed improvements for 33 low and moderate income Shenandoah
Townhome owner -occupants. The HRA developed the application and has been administering
the process to qualify the eligible owners. The Homeowners Association is preparing to begin
the re -siding work this Spring.
Communky Development Block Grant and Minnesota Housing Finance Aeentcy Funds
The City received an allocation of $322,000 in federal Community Development funds for
1997. The City provides these funds to the Plymouth HRA to assist low and moderate income
families and individuals. During 1997, the HRA assisted S low and moderate income families
to become homeowners with $93,400 ir. CDBG funds. It also assisted 15 low and moderate
income families to rehabilitate their homes with $89,227 in CDBG funds. The HRA also
facilitated $539.063 in 7 below market interest rate first time homebuyer mortgages from the
MHFA and an additional $5,278 to provide MHFA rehabilitation loans to 2 families through
Hennepin County. An additional $30,000 in CDBG funding was granted to Hammer
Residences to make a group home for 5 developmentally disabled persons handicapped
accessible.
Section 8 Landlord Participation As rental vacancy rates have fallen in Plymouth and the
entire Twin Cities area to below 2%. the numbers of properties participating in the federal
Section 8 -certificate and voucher housing assistance programs has fallen dramatically. This
has made it extremely difficult for persons with Section 8 Certificates or Vouchers to find
housing that will accept this assistance. The Plymouth HRA has initiated a program to work
with local landlords to develop incentives to retain landlords already participating in the
programs and to recriit other landlords to participate. This is essential if this major source of
affordable housing is to continue to be available in Plymouth. As part of this initiative the
HRA will be the agency that monitors the new 4d low income property tax classification in
Plymouth for th.- Minnesota Housing Finance Agency.
Community Housing Coalition City staff began working with Interfaith Outreach And
Community Partners (TOCP) and the City of Wayzata to work cooperatively to support
affordable housing for area residents and workers. As an outgrowth of this effort TOCP has
organized the Community Housing Coalition to develop responses to the housing needs in our
community. With a grant from the McKnight Foundation IOCP has hired a Housing
Coordinator to organize the Coalition and develop programs to support affordable housing.
The City of Plymouth, IOCP, City of Wayzata, Plymouth Housing Alliance, West Hennepin
Community Builders, Community Action for Suburban Hennepin (CASH), Minnesota
Interfaith Coalition for Affordable Housing (MICAH). have been represented at the Coalition's
monthly meetings. Recently, we invited representatives from Northwest Hennepin Human
Services Council and PRISM to attend these monthly meetings.
For additional information on any of these items, please contact Ed Goldsmith, HRA
Supervisor at 509-5412.
J
P) f AGMA -SPECIAL MOTMG
Pli'JIIOI/TB BOUSAVG AND 4MZH"PAISNTAUTHORJTY
Mg" 30,1998 at. 6.
Alsdldiie LaArsCiV{/aitRaeEao PljMONO C*j7d/
1. Call to Ceder
2. Substitution of HRA Genesi Funds for Community Development Block Grant (CDBG) Funds
for Shenandoah Woods Apartments
3. Shenandoah Townhomes Housing Improvenunts Financing Assistance
4. Other Business
S. Adjoumment
r•,
DATE: Manch 26, 1998 for liousing and Redevelopment Authority Mating of
Mauch 30,1
1ued
from March 19,1998
TO: Anne W. Hudburt, Executive Director
FROM: Edward J. Goldsmith, HRA Supervisor '
SUBJECT: Substitution of HRA General Fundsor Community Development Block Grant
CDBG) Funds for Ownandah Woods Apartments
The HRA and City Council had previously approved the use of $100,000 in CDBG fulls to
assist development of the 64 unit mixed -Income Shenandoah Woods Apartounts at 22o0 Avenue
and Shenandoah Lane. In a conversation with staff from the local office of the U. S. Departn ent
of Housing and Urban Development, I learned that It will not be possible to utilize CDBG funds
to assist in tie construction of the Shenandoah Woods Apartments as originally intended. The
only eligible CDBO expenditure for a new construction project would have been for the purchase
of the land. However, the developer pumbased the bud before we were in a position to assist
with CDBG finds. With the devckpuetht financing scheduled for closing in early April, $30,000
will be nada! at the closing to cover the initial HRA contribution to the development. With an
additional $50,000 available by July 1. 1998.
Discussions with HUD staff have indicated that it may be possible to obtain waivers from HUD
that would permit the expenditure of CDBO Administration finds in support of this development.
Such expendinurs would be limited by do 20% cap on annual CDBO allocations that can be
expended for Administration costa. However, HUD may allow CDBG reimbursement for local
finds advanced for this purpose to be stunt over a throe year period. Assuming that
opproximctely 520.000 per year Is available to be allocated in this fashion, approximately
60.000 of the 5100,000 could be reimbursed firm CDBO finding years 1997, 1998. and 1999.
The HRA has approximately $30.000 available in uncennoftged funds in the HRA Affordable
Housing Account plus $30.000 in bond has that aro to be deposited in the Affordable Housing
Account during 1998. Also available aro $70.000 in surplus General Fund reserves. not
Including Nnds necessary for cash flow or finds that have been proposed to be used in support of
the Village At Bassett Creek developnhent (Tax Iocremem District 7-3) avid the CounhonBood
Conmmmitks HUD 202 senior sparunanta. Funding from do Affordable Housing Account could
cover 560.000 of rue $100.000 needed for 1998. u necessary, up to $70.000 can cerise from the
General Fund surplus. If we aro successfiul in obtaining a CDBO waiver from HUD, a minimum
of $60.000 of to HRA's local contributions should be reimbursed to the HRA. Without the
100,000 in HRA assistance the development of these aparu nenns cannot proceed.
I recommend that the BRA Board adopt the attached resolution approving expenditures of
OP to 5609000 from the HRA Affordable Housing Account In the HRA General Fund and
540,000 from the suephrs fund balance in the BRA General Fund for the loan of $100,000 to
the Onnandoeb Woods Lmlted partuarehip and authorizing the Executive Director to
sesame of behalf afthe BRA all naemsry documents related to saki bmu.
HRA RESOLUTION 980.8
APPROVING EXPENDITURES FROM THE HRA AFFORDABLE HOUSING ACCOUNT
IN THE HRA GENERAL FUND AND THE SURPLUS FUND BALANCE IN THE HRA
GENERAL FUND FOR A LOAN TO THE SHENANDOAH WOODS LEWr=
PARTNERSHIP AND AUTHORIZING THE EXECIl17VE DIRECTOR TO EXECU79 ON
BEHALF. OF THE HRA ALL NECESSARY DOCUMENTS RELATED TO SAID LOAN
WHEREAS, the treed for affordable rental units in the City of Plymouth has greatly exceeded the
current supply while the development of an affordable rental housing development to be known as
Shenandoah Woods Apartments (the "Development") is in treed of additional fimding to make this
project feasible; and,
WHEREAS, the Plymouth Housing and Redevelopment Authority (the "HRA") and the City of
Plymouth has previously committed Community Development Block Grata ("CDBG") fmancing
for the Development that provides for contributions of $50,000 upon initial closing of the
Development and a subsequent payment of 550,000 as of July 1,1998; and,
WHEREAS, the CDBG financing may not be available to make such contributions; and
WHEREAS, funds are w/ailable from the HRA's General Fund that can be substituted for the
CDBG funds that may not be available for the development; and
WHEREAS, to the greatest extent possible the HRA will endeavor to obtain approvals from the
U. S. Department of Housing and Urban Development that will allow the use of CDBG fimds to
reimburse the HRA fct its funds loaned to the Shenandoah Woods Limited Partnership,
NOW THEREFORE, BE IT RESOLVED BY THE HOUSING AND REDEVELOPMENT
AUTHORITY IN AND FOR THE CITY OF PLYMOUTH, MINNESOTA, that the Authority
hereby approves expenditures of up to $60.000 from the HRA Affordable Housing Account in the
HRA General Fund, as available. and 540.000 from the surplus fund W mice in the HRA General
Fund for the loan of $100.000 to the Shenandoah Woods Limited Partnership and authorizes the
Executive Director to execute on behalf of the HRA all necessary documents related to said loan;
and
BE IT FURTHER RESOLVED. that as necessary up to $30,000 in HRA General Fund surplus is
authorized to be advanced to the HRA Affordable Housing Account, if necessary. to cash flow
the afo mmutioned expenditures. .
Adopted by the Plymouth Housing and Redevelopment Authority on March 30,1998.
3•
MEMO
CITY OF PLYMOUTH
3400 PLYMOUTH BbL'LEVARD, PLYMOUTH. MN SW7
DATE: March 26, 1998 for Housing and Redevelopment Authority Mating of March 30,
1998 Continued from March 19, Mg
TO: Amu: litS9M'di, Executive Director
FROM: Edward Goldsmith, HRA Supervisor
of
SUBJECT: Shenandoah Townhomes Housing Improvements Finaau.g Assistance
At the February HRA meeting, the Board authorized assistance for approximately 6 properties in
the Slh Townhomes Housing Improvement Area that did not qualify for assistance from
the Federal Home Loan Bank (FHLB). The HRA's assistance is limited to relative homesteads
and families with documented hardships. One property has qualified for this assistance.
Since the Board's action, it has come to my attention that a couple who had applied for FHLB
assistance, have ban domed assistance because they are purchasing the property through a
contract for deed. Under the HRA's Home Rehab Program, persons purchasing with a contract
for deed are eligible for assistance if the owner will execute a mortgage to secure the assistance.
The HRA could add income eligible contract for deed purchasers to those eligible for the CDBG
assistance approved at the February mating. By doing so, we could assist additional properties
in the Shenamdoah Townhomes widCm the original February allocation.
I therefore recommend that the Board adopt the attached resolution to replaee the
previously adopted HRA Resolution 98-03 in order to provide assistance to eligible
properties in the Shenandoah Townhomes Housing Improvement Area being purchased
with a eon&ut for deed.
HRA RESOLUTION No. 9R-06
AUTHORIZING ASSISTANCE FOR HOMEOWNERS IN THE SHENANDOAH
e') TOWNHOMES HOUSING IMPROVEMENT AREA
WHEREAS, The City of Plymouth has created the Shenandoah Townhomes Housing Improvement
Area under the authority of Minncsota Statutes 482A for the purpose of facilitating the re -siding of
the townhomes and related improvements; and
WHEREAS, the Plymouth Housing and Redevelopment Authority (HRA) has sponsored an
application to the Federal Home Loan Bank Affordable Housing Program (FHLBAHP) to assist low
and moderate income homeowners in the Shenandoah Townhomes with the cost of the proposed
Housing Improvements; and
WHEREAS, the HRA has received applications from homeowners in the Shenandoah Townhomes
Housing Improvement Area for fiAancial assistan-e; and
WHEREAS, there are applicants for assistance that are not eligible for assistance from the
FHLBAHP, but have submitted applications for assistance to the HRA; and
WHEREAS, the HRA wishes to provide assistance to applicants ineligible for the FHLBAHP
assistance under certain limited circumstances;
NOW THEREFORE BE IT RESOLVED by the Housing and Redevelopment Authority in and for
the City of Plymouth, Minnesota that funding is authorized to provide assistance on the following
terms to Shenandoah homeowners not eligible for assistance from the FHLBAHP:
1. CDBG funding is hereby authorized from the HRA's Home Rehab Program of up to $17,172,
9 in accordance with the assistance formula in the FHLBAHP application and the owner
occupant requirement of the Program is hereby waived for these applicants for:
a. properties classified as "relative homesteads", assistance is to be based upon the higher of
the incomes of the occupant or the owner, including consideration of any direct rental
assistance received by the occupant to be part of family income,
b. properties being purchased through contracts for deed, but only where the owner agrees to
execute a mortgage to secure the assistance.
2. Funding of up to 56,000 from the HRA's General Fund Affordable Housing Account is
hereby authorized for "over -income" hardship applicants subject to income verifications with
either the owner or occupant being within CDBG income limits and the other one with
income of no more than 1100/6 of the CDLG income limits.
3. The foregoing assistance is to be made available only if housing costs for -die occupant after
application of the Housing Improvement Area Fee would exceed 30% of the occupant's
income. The assistance is to be administered through the HRA's Home Rehab Program.
Repayment tents for the assistance is to be the as= as for the Rehab Program.
4. Eligibility for this assistance is subject to income verification and CDBG income limits; and
BE IT FURTHER RESOLVED that qualifying Shenandoah Townhome homeowners who apply to
the HRA Home Rehab Program for assistance in insulating their homes in conjunction with the
Housing Improvement Area residing project, be granted a preference for such fimding, as available,
in order to permit the insulation to be installed prior to the residing of their units.
J BE IT FURTHER RESOLVED that HRA Resolution 98-03 is hereby declared mull and void and
replaced in all respects by this resolution.
Adopted by the Plymouth Housing and Redevelopment Authority on March 30,1998.