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Council Information Memorandum 04-05-2018
CITY OF PLYMOUTH COUNCIL INFO MEMO April 5, 2018 EVENTS / MEETINGS Environmental Quality Committee Agenda for April 11th ...................................... Page 2 Official City Meeting Calendars .................................................................... Page 3 Tentative List of Agenda Items ..................................................................... Page 6 CORRESPONDENCE Arbor Day Foundation Names Plymouth Tree City USA ......................................... Page 7 Vyaire Medical, Inc. Closing ........................................................................ Page 9 Primavera Spring Art Exhibition Set for April 20th-21st ...................................... Page 11 Conditional Use Permit, Variance and Site Plan Amendment for 4090 Annapolis Lane North (2018015) .................................................... Page 12 REPORTS & OTHER ARTICLES OF INTEREST The Evolution of Flex Property, Lee & Associates ............................................. Page 13 Suburban Tech-Industrial Property Portfolio Sells for $70 Million, Minneapolis/St. Paul Business Journal .................................... Page 17 Turck Expands Plymouth Operations as Company Grows in U.S. and Mexico, Minneapolis/St. Paul Business Journal ............................... Page 19 Sand Cos. Pitches Workforce Housing in Plymouth, Finance & Commerce ................ Page 21 Providence Academy Named Most Beautiful, Architectural Digest ......................... Page 24 ENVIRONMENTAL QUALITY COMMITTEE AGENDA April 11, 2018 WHERE: MEDICINE LAKE ROOM Plymouth City Hall 3400 Plymouth Boulevard Plymouth, MN 55447 CONSENT AGENDA All items listed on the consent agenda* are considered to be routine by the Environmental Quality Committee and will be enacted by one motion. There will be no separate discussion of these items unless a Committee member, or citizen so requests, in which event the item will be removed from the consent agenda and considered in normal sequence on the agenda. 1.7:00 P.M. CALL TO ORDER 2.7:00 P.M. PUBLIC FORUM – Individuals may address the Committee about any item not contained in the regular agenda. A maximum of 15 minutes is allotted for the Forum. 3.7:20 P.M APPROVAL OF AGENDA - EQC members may add items to the agenda for discussion purposes or staff direction only. The EQC will not normally take official action on items added to the agenda. 4.7:25 P.M. CONSENT AGENDA* A.Approve March 14, 2018 EQC Meeting Minutes (Asche) 5.7:30 P.M. GENERAL BUSINESS A. B. Bass and Pomerleau in-lake water quality treatment Draft Recycling Contract 6.REPORTS AND STAFF RECOMMENDATIONS 7.FUTURE MEETINGS: May 9, 2018 •Storm Water Pollution Prevention Plan Public Meeting •Solid Waste Annual Report 8.8:00 P.M. ADJOURNMENT Page 2 SUN MON TUE WED THU FRI SAT 1 2 3 4 7:00 PM PLANNING COMMISSION MEETING Council Chambers 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 April 2018 3400 Plymouth Boulevard Plymouth, MN 55447 OFFICIAL CITY CALENDAR Phone: 763-509-5000 Fax: 763-509-5060 7:00 PM ENVIRONMENTAL QUALITY COMMITTEE MEETING Medicine Lake Room 4:30 PM to 7:00 PM Hennepin County Open Book Meeting Medicine Lake Room 7:00 PM PLANNING COMMISSION MEETING Council Chambers SUN TUES MON WED THUR FRI SAT CHANGES ARE NOTED IN RED Primavera Plymouth Creek Center 5:30 PM COUNCIL/HRA/Planning Commission MEETING Housing Study/TIF District update/Senior Building Medicine Lake Room 7:00 PM REGULAR COUNCIL MEETING Council Chambers 7:00 PM HOUSING AND REDEVELOPMENT AUTHORITY MEETING Medicine Lake Room Primavera Plymouth Creek Center 5:30 PM SPECIAL COUNCIL MEETING Hotel Licensing Medicine Lake Room 7:00 PM REGULAR COUNCIL MEETING Council Chambers Page 3 SUN MON TUE WED THU FRI SAT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 May 2018 3400 Plymouth Boulevard Plymouth, MN 55447 OFFICIAL CITY CALENDAR Phone: 763-509-5000 Fax: 763-509-5060 7:00 PM PLANNING COMMISSION MEETING Council Chambers 7:00 PM ENVIRONMENTAL QUALITY COMMITTEE MEETING Medicine Lake Room 7:00 PM PARK & REC ADVISORY COMMISSION MEETING Council Chambers 7:00 PM PLANNING COMMISSION MEETING Council Chambers 7:00 PM HOUSING AND REDEVELOPMENT AUTHORITY MEETING Medicine Lake Room SUN TUES MON WED THUR FRI SAT MEMORIAL DAY CITY OFFICES CLOSED 5:30 PM COUNCIL/EQC MEETING Organics Recycling Medicine Lake Room 7:00 PM REGULAR COUNCIL MEETING Council Chambers 6:00 PM Walk with the Mayor Plymouth Creek Center 5:00 PM SPECIAL COUNCIL MEETING Fire Dept. Update Medicine Lake Room 7:00 PM REGULAR COUNCIL MEETING Council Chambers 10:00 AM Bark in the Park Hilde Performance Center 8:00 AM-12:30 PM Fire Department Waffle Breakfast Fire Station III Page 4 SUN MON TUE WED THU FRI SAT 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 7:00 PM PLANNING COMMISSION MEETING Council Chambers 21 22 23 24 25 26 27 28 7:00 PM HOUSING AND REDEVELOPMENT AUTHORITY MEETING Medicine Lake Room 29 30 June 2018 3400 Plymouth Boulevard Plymouth, MN 55447 OFFICIAL CITY CALENDAR Phone: 763-509-5000 Fax: 763-509-5060 7:00 PM REGULAR COUNCIL MEETING Council Chambers 7:00 PM ENVIRONMENTAL QUALITY COMMITTEE MEETING Medicine Lake Room 7:00 PM PARK & REC ADVISORY COMMISSION MEETING Plymouth Creek Center 7:00 PM PLANNING COMMISSION MEETING Council Chambers SUN TUES MON WED THUR FRI SAT CHANGES ARE NOTED IN RED 7:00 PM REGULAR COUNCIL MEETING Council Chambers Absentee Voting begins for State Primary Election Page 5 Tentative Schedule for City Council Agenda Items April 24, Council/Planning Commission/HRA Meeting, 5:30 p.m. Medicine Lake Room • Draft Housing Study • Senior Building Cash Flow and Maintenance Schedule • Tax Increment District update April 24, Regular, 7:00 p.m. Council Chambers • Announce Fire Department Waffle Breakfast on May 6 at Fire Station III May 8, Special, 5:00 p.m. Medicine Lake Room • Fire Department update May 8, Regular, 7:00 p.m. Council Chambers • Project hearing on the Kilmer Park Street Reconstruction project (189001.001) • Project and assessment hearing for the 2018 Public Works Mill and Overlay project (ST189004.001) • Public hearing on providing host city approval for the issuance of Health Care Facilities Revenue Refunding Bonds for Presbyterian Homes May 22, Council/EQC Meeting, 5:30 p.m. Medicine Lake Room • Organics recycling May 22, Regular, 7:00 p.m. Council Chambers • Project and assessment hearing for the State Highway 55 frontage road construction project (13002) June 12, Regular, 7:00 p.m. Council Chambers June 26, Regular, 7:00 p.m. Council Chambers July 10, Regular, 7:00 p.m. Council Chambers July 24, Regular, 7:00 p.m. Council Chambers Page 6 Arbor DaFoundation Mayor Kelli Slavik 3400 Plymouth Blvd. Plymouth,MN 55447 Dear Tree City USA Supporter, On behalf of the Arbor Day Foundation,I write to congratulate Plymouth on earning recognition as a 2017 Tree City USA. Residents of Plymouth should be proud to live in a community that makes the planting and care of trees a priority. Plymouth is one of more than 3,400 Tree City USAs,with a combined population of 140 million. The Tree City USA program is sponsored by the Arbor Day Foundation in partnership with the U.S. Forest Service and the National Association of State Foresters. If ever there was a time for trees, now is that time. Communities worldwide are facing issues with air quality, water resources,personal health and well-being, and energy use.Plymouth is stepping up to do its part. As a result of your commitment to effective urban forest management, you are helping to provide a solution to these global challenges. We hope you are excited to share this accomplishment. Enclosed in this packet is a press release for your convenience as you prepare to contact local media and the public. State foresters are responsible for the presentation of the Tree City USA flag and other materials. We will forward information about your awards to your state forester's office to coordinate presentation. It would be especially appropriate to make the Tree City USA award a part of your community's Arbor Day ceremony. Again,we celebrate your commitment to the people and trees of Plymouth and thank you for helping to create a healthier planet for all of us. Best Regards, Dan Lambe President cc: Paul Buck enclosure Page 7 For more information,contact:Arbor DayFoundation Danny Cohn,402-473-9563 dcohn@arborday.org arborday.org FOR IMMEDIATE RELEASE: Arbor Day Foundation Names Plymouth Tree City USA Plymouth,MN,was named a 2017 Tree City USA by the Arbor Day Foundation in honor of its commitment to effective urban forest management. Plymouth achieved Tree City USA recognition by meeting the program's four requirements: a tree board or department,a tree care ordinance,an annual community forestry budget of at least$2 per capita and an Arbor Day observance and proclamation. Tree City USA communities see the impact an urban forest has in acommunity first hand;" said Dan Lambe,president of the Arbor Day Foundation."Additionally, recognition brings residents together and creates a sense of community pride, whether it's through volunteer engagement or public education." Trees provide multiple benefits to a community when properly planted and maintained. They help to improve the visual appeal of a neighborhood, increase property values,reduce home cooling costs,remove air pollutants and provide wildlife habitat, among many other benefits. More information on the program is available at arborday.org/TreeCityUSA. About the Arbor Day Foundation:The Arbor Day Foundation is a million member nonprofit conservation and education organization with the mission to inspire people to plant,nurture, and celebrate trees. More information is available at arborday.org. Page 8 Page 9 4/3/2018 Med-tech company Vyaire to close Plymouth plant, cut 50 jobs - Minneapolis / St. Paul Business Journal https://www.bizjournals.com/twincities/news/2018/04/03/med-tech-company-vyaire-to-close-plymouth-plant.html?s=print 1/2 David Mowry, CEO of Vyaire From the Minneapolis / St. Paul Business Journal: https://www.bizjournals.com/twincities/news/2018/04/03/med-tech-company-vyaire-to-close-plymouth-plant.html Med-tech company Vyaire to close Plymouth plant, cut 50 jobs Apr 3, 2018, 12:10pm CDT Updated: Apr 3, 2018, 12:14pm CDT Medical-device maker Vyaire Medical Inc. will close a manufacturing facility in Plymouth, eliminating about 50 jobs, according to a letter the company sent to Minnesota state officials. Mettawa, Ill.-based Vyaire expects to shutter the plant, located at 17400 Medina Rd., by June 30. The company, which makes ventilators and respiratory diagnostics equipment, didn’t say in the letter why it will close the facility. A company official couldn’t be reached for further information. Vyaire formed in 2016, when funds run by Apax Partners bought a majority stake in the business from Franklin Lakes, N.J.-based Becton Dickinson. The unit included operations previously owned by CareFusion Corp., which BD acquired in 2015. CareFusion has had a manufacturing facility in Plymouth for years. BD sold its remaining stake in Vyaire to London-based Apax late last month. Vyaire generates about $800 million in annual revenue, according to Apax. Last year, Vyaire leased 6,300 square feet of office space inside Offices at MOA in Bloomington, according to a 2017 news release. FOR THE EXCLUSIVE USE OF BLANDHAUSER@PLYMOUTHMN.GOV MENU Account Page 10 City of Plymouth News Release For Immediate Release April 2, 2018 Contact: Alyssa Fram Recreation Supervisor City of Plymouth 763-509-5225 afram@plymouthmn.gov Primavera spring art exhibition set for April 20-21 Plymouth, Minn. – Primavera, Plymouth’s annual springtime celebration of the arts, is set for Friday and Saturday, April 20-21 at the Plymouth Creek Center, 14800 34th Ave. A partnership of the City of Plymouth and Plymouth Arts Council, this free event provides an opportunity for the public to view and celebrate a mixture of fine art and entertainment. Original artwork by local and regional adult and high school artists will be featured. Event schedule is as follows: Friday, April 20 Exhibit hours: 11 a.m. to 8:30 p.m. •5:30-6:30 p.m. – Wayzata High School Jazz Ensemble performance •7:30-8:30 p.m. – Presentation of awards. Refreshments will be served. Saturday, April 21 Exhibit hours: 11 a.m. to 7 p.m. •11 a.m. to 1 p.m. – Plymouth Concert Band ensemble performances •1-3 p.m. – Artists in Action, artist demonstrations •3-4 p.m. – “Introduction to Bollywood” by R.G.K. Modern Indian Dance School •5-6:30 p.m. – Acoustic trio featuring Steve Noonan, timmyz and Mandy Fassett A children’s scavenger hunt will also be featured throughout the event. Cutline: Primavera, Plymouth’s free annual celebration of the arts, featuring the work of local and regional adult and high school artists, is set for April 20-21 at the Plymouth Creek Center. -30- Page 11 Page 12 3/29/2018 Flex Industrial Property is Changing https://mailchi.mp/0f8a3f7d8ad8/flex-industrial-property-is-changing?e=005447d1a8 1/5 View this email in your browser The Evolution of Flex Property Minnesota is known as a strong hub for medical device, high tech, and manufacturing. The first two industries love what we call "Flex" space. The reason they gravitate towards this space is it provides a professional look, typically has 3 sides of glass, offers lab area, heavy parking, and more than 50% office area. Developers built this product type starting in the late 80's and into the early 2000's. They stoped building because Investors now have a preference for Bulk buildings (high clear, less office). Specifically they avoid it because: High transaction costs to add new Tenants The office, tech, and warehouse square footage fluctuates (in other words is flexible) Tenants tend to want shorter term leases Clear height is generally low 12-16' clear Flex tends to compete with Office Buildings The above points have made Flex properties the least favorite of the industrial asset class. The older Flex buildings from the 80's and 90's have struggled with vacancy. They do not offer the RE Lingo: "Flex" Flex: Single level, heavy office and tech building that caters to medical device, high technology, and office users. A flex property is called this as the space is flexible. The amount of office buildout is added and demolished per Tenant needs. Burger Tour: High West Burger Park City Utah I had this burger recently while Subscribe Past Issues RSSTranslate Page 13 3/29/2018 Flex Industrial Property is Changing https://mailchi.mp/0f8a3f7d8ad8/flex-industrial-property-is-changing?e=005447d1a8 2/5 amenities of an office building and cannot compete with the high ceilings and new build out of the new Industrial Developments. However we are seeing the landscape change. Several projects in the Twin Cities are revolutionizing this asset class. The two projects that are leading the way are: Vicksburg Business Center Baker Technology Park skiing in Park City Utah. The snow was sub par due to warm weather but the burger was very good! The High West offered a 8oz Bison Blend, Blue and Gruyere Cheese, Fried and Caramelized Onions on a Caraway Bun (no idea what that is). Definitely worth it after a long day of skiing, and of course they offered some good whisky drinks! Subscribe Past Issues RSS Page 14 3/29/2018 Flex Industrial Property is Changing https://mailchi.mp/0f8a3f7d8ad8/flex-industrial-property-is-changing?e=005447d1a8 3/5 What these properties offer that attract new companies include: Both buildings have “White Boxed” their spaces- demolishing all the office and lab areas to show a wide open, painted walls/ceilings area Baker Tech has a brewery on site Bike rack, food trucks, and more green space for cookouts are at Baker Tech as well 1st and 2nd ring suburban locations Location tends to win out quite often in real estate. If the older Flex buildings can offer a unique experience with Breweries, food trucks, and the open office environment then they can compete Subscribe Past Issues RSS Page 15 3/29/2018 Flex Industrial Property is Changing https://mailchi.mp/0f8a3f7d8ad8/flex-industrial-property-is-changing?e=005447d1a8 4/5 with new construction. The two above properties are proving that. Look for more Landlords to make similar moves. Chris Garcia | Principal D: 952.223.6720 M: 651.253.6395 E: cgarcia@lee-associates.com Ra'eesa Motala | Associate D: 952.392.7058 M: 651.890.9919 E: rmotala@lee-associates.com Copyright © 2018 Lee & Associates - Twin Cities, All rights reserved. Want to change how you receive these emails? You can update your preferences or unsubscribe from this list Subscribe Past Issues RSS Page 16 4/3/2018 Greenfield Partners sells industrial buildings to Eagle Ridge Partners and Artemis Real Estate Partners for $70 million - Minneapolis / St. Paul Business Journal https://www.bizjournals.com/twincities/news/2018/04/02/suburban-tech-industrial-property-portfolio-sells.html?s=print 1/3 CBRE MINNEAPOLIS Rowland Pond Center in Minnetonka was one of 12 buildings sold in a $70 million portfolio deal. From the Minneapolis / St. Paul Business Journal: https://www.bizjournals.com/twincities/news/2018/04/02/suburban-tech-industrial-property-portfolio-sells.html Suburban tech-industrial property portfolio sells for $70M SUBSCRIBER CONTENT: Apr 2, 2018, 2:00pm CDT A dozen Twin Cities suburban industrial-tech buildings sold last week for just over $70 million. The seller is Greenfield Partners, a Westport, Conn.-based investor, according to Hennepin County real estate records. The buyer is joint venture between Washington D.C.-based Artemis Real Estate Partners and St. Louis Park-based Eagle Ridge Partners, according to a press release from CBRE Minneapolis. The properties clock in at 914,700 square feet with an 87 percent occupancy rate. There’s no single dominant tenant — the largest is Medtronic, which occupies 85,000 square feet in the Nathan Lane Technology Center in Plymouth. Judd Welliver, Ryan Watts, Sonja Dusil, and Tom Holtz of CBRE’s Minneapolis office represented the seller in the transaction, which closed on Thursday. “This is the largest of what I would call a high-finish industrial portfolio sale that has taken place in Minneapolis,” Welliver said. “This is mostly what we call office showroom or tech space. Most of the properties are 60, 70 or 80 percent finished, so it’s not a true distribution or industrial portfolio. It's really a tech portfolio.” Welliver said the seller received more than 10 bids. FOR THE EXCLUSIVE USE OF BLANDHAUSER@PLYMOUTHMN.GOV MENU Account Page 17 4/3/2018 Greenfield Partners sells industrial buildings to Eagle Ridge Partners and Artemis Real Estate Partners for $70 million - Minneapolis / St. Paul Business Journal https://www.bizjournals.com/twincities/news/2018/04/02/suburban-tech-industrial-property-portfolio-sells.html?s=print 2/3 “We had a pretty deep pool of bidders, and ultimately the buyer we selected knew the portfolio well and we had a high level of comfort with them in terms of execution,” he said. “They were able to move quickly, closing within 30 or 45 days of being awarded the deal.” Eagle Ridge Partners bought International Market Square last year and broke ground last fall on the first phase of a 400- unit apartment project in Shoreview with Minneapolis-based Greco LLC. It also has an existing 1.3 million-square-foot portfolio of flex industrial space. "This was a significant transaction for Eagle Ridge Partners, as it solidified a new partnership with Artemis Real Estate Partners and brought in new institutional capital to the Twin Cities," Kristin Myhre, President of Eagle Ridge Partners, said in an emailed statement. "This acquisition makes us one of the largest owners of flex product in the metro. We are excited about this opportunity to capitalize on an investment that features a diverse tenant base and quality assets located in amenity-rich areas that will drive demand throughout our ownership." Greenfield Properties could not be reached for comment. Here are the buildings that changed hands in the transaction: Highway 212 Corporate Center, 7400 Flying Cloud Drive, Eden Prairie Lake Smetana Tech Center, 7660-7716 Golden Triangle Drive, Eden Prairie Westwood IV, 6321 Bury Drive, Eden Prairie Meridian Business Center, 7550 Meridian Circle N., Maple Grove Rowland Pond Center, 5600 - 5610 Rowland Road, Minnetonka Oakdale Interstate Center, 550-590 Hale Ave. N., Oakdale Northwest Business Campus I, 2905 Northwest Blvd., Plymouth Northwest Business Campus II, 2800 Campus Drive, Plymouth Northwest Business Campus III, 2955 Xenium Lane N., Plymouth, 169 Commerce Center, 9600 54th Ave. N., Plymouth Nathan Lane Technology Center, 4600 Nathan Lane, Plymouth Hudson Road Technology Center, 7805 Hudson Road, Woodbury Nick Halter Page 18 4/3/2018 Turck expands Plymouth operations as company grows in U.S. and Mexico - Minneapolis / St. Paul Business Journal https://www.bizjournals.com/twincities/news/2018/04/03/turck-expands-plymouth-operations-as-company-grows.html?s=print 1/2 BRITT JOHNSEN Chinda Maomanyvanh, a tester at Turck Inc. in Plymouth, works in one of the facilities added as part of the company's recent growth. From the Minneapolis / St. Paul Business Journal: https://www.bizjournals.com/twincities/news/2018/04/03/turck-expands-plymouth-operations-as-company- grows.html Turck expands Plymouth operations as company grows in U.S. and Mexico SUBSCRIBER CONTENT: Apr 3, 2018, 2:49pm CDT Plymouth-based manufacturer Turck Inc. has added 40,000 square feet to its local operations as it works to keep up with unplanned demand for its products. Turck makes components for industrial automation equipment, including sensors and cables, among other products. Its products could wind up anywhere from car washes to Amazon distribution centers to John Deere combine harvesters to rollercoasters at Valleyfair. In 2017, the company planned for a 7 percent increase in revenue. Instead revenue grew by 19 percent, said Chris Kafer, vice president of manufacturing at Turck. The company, whose corporate parent is based in Germany, plans to post $300 million in sales in North America this year. To keep up with demand, it bought two buildings next to its 125,000-square-foot manufacturing facility in Plymouth, adding a total of 40,000 additional square feet since fall 2017. It's still completing remodeling at the site, with some work happening through June, Kafer said. FOR THE EXCLUSIVE USE OF BLANDHAUSER@PLYMOUTHMN.GOV MENU Account Page 19 4/3/2018 Turck expands Plymouth operations as company grows in U.S. and Mexico - Minneapolis / St. Paul Business Journal https://www.bizjournals.com/twincities/news/2018/04/03/turck-expands-plymouth-operations-as-company-grows.html?s=print 2/2 He doesn't know why the company is seeing so much growth that it didn't plan for, but he said all the industries it works with are healthy right now. One of its biggest industries is the automotive sector, which accounts for 20 percent of its revenue. Other sectors include distribution and the oil and gas business. "The economy has been good in our markets," Kafer said. Turck operations are growing elsewhere, too. It has facilities in Michigan, Pennsylvania and Texas that are all physically expanding, and it's added 65,000 square feet to a manufacturing facility in Mexico. From here, Kafer said the company's goals include training new employees and keeping up with the growth its experiencing. "It's been really, really fun," he said. "It's been an incredible amount of work." Britt Johnsen Staff reporter Minneapolis / St. Paul Business Journal Page 20 4/3/2018 Sand Cos. pitches workforce housing in Plymouth – Finance & Commerce https://finance-commerce.com/2018/04/sand-cos-pitches-workforce-housing-in-plymouth/1/3 Waite Park-based Sand Cos. hopes to build a 58-unit workforce housing complex on this site within the Crossroads Commons planned unit development site in Plymouth. Crossroads Commons is on Highway 55 just west of County Road 73. (Staff photo: Bill Klotz) Sand Cos. pitches workforce housing in Plymouth By: Brian Johnson April 3, 2018 7:00 am 0 Two affordable housing proposals would bring up to 102 new apartments to Plymouth, where city officials say the infusion is needed. The Plymouth City Council took an early look last week at Waite Park-based Sand Cos.’ plan for a 58-unit workforce housing complex and a standalone coffee shop on a vacant parcel within the Crossroads Commons developmentPage 21 4/3/2018 Sand Cos. pitches workforce housing in Plymouth – Finance & Commerce https://finance-commerce.com/2018/04/sand-cos-pitches-workforce-housing-in-plymouth/2/3 area. The site, on Highway 55 just west of County Road 73 in Plymouth, is near a Waters senior housing complex and a McDonald’s restaurant. Also in Plymouth, the St. Paul-based Beacon Interfaith Housing Collaborative wants to build 44 apartments on 45th Avenue North near Old Rockford Road. The Plymouth-based Interfaith Outreach and Community Partners is a partner in the development. Citing Metropolitan Council statistics, Beacon said only 12 percent of homes in Plymouth are considered affordable to families of four earning $45,000 or less. By the Minnesota Housing Finance Agency’s definition, workforce housing is affordable to local workers and is within 10 miles of a city with job growth. “There is a need not only in Plymouth but the entire metro area [for more workforce housing],” said Jim Barnes, Plymouth’s housing programs manager. “And given the limited resources out there, we all try to do our best when these projects come along to create that ability to have a broad range of housing options.” The Sand Cos. project, known as the Element Multifamily Community, would offer one-, two- and three-bedroom apartments. Monthly rents would range from $615 to $1,297, depending on the unit size, Barnes said. Income limits would range from 30 percent to 60 percent of the area median income. In 2016 dollars, Plymouth’s area median income was $88,400 and its median gross monthly rent was $1,187, according to Metropolitan Council data. The Plymouth City Council on March 27 approved a resolution in support of Sand’s application for low-income housing tax credits. The resolution also authorizes city staff to prepare a plan for up to $700,000 in tax increment financing assistance. A show of support from the city is important as the developer competes for tax credits, Barnes said at the March 27 meeting. Last October, the Minnesota Housing Finance Agency announced $126 million in loans, grants and tax credits to support affordable housing throughout the state. MHFA Commissioner Mary Tingerthal said at the time that requests were about three times the amount of funding. If the funding comes together, Sand Cos. would have to go back to the City Council for approvals that include a Planned Unit Development amendment, Barnes said. The developer has the site under contract and construction would likely begin in spring or summer 2019, he added. Page 22 4/3/2018 Sand Cos. pitches workforce housing in Plymouth – Finance & Commerce https://finance-commerce.com/2018/04/sand-cos-pitches-workforce-housing-in-plymouth/3/3 Barnes said the plan is similar to the 67-unit West View Estates, another workforce housing complex developed by Sand Cos. in Plymouth. West View opened in 2012 at the northwest quadrant of Vicksburg Lane and County Road 47. Finance & Commerce reported in 2012 that West View Estates is a smoke-free building with one-, two- and three- bedroom units, a washer and dryer in each unit, underground parking and a play area. At Beacon’s Cranberry Ridge, rents would be affordable for people and families earning between $20,000 and $45,000 per year, according to Beacon, a collaborative of 80 area congregations dedicated to affordable housing. Cranberry Ridge has received development approval from the city, and Beacon is working on financing, Barnes said. The complex would rise on a site at 18140, 18220 and 18240 Highway 55, according to city documents. Lee Blons, executive director of the Beacon Interfaith Housing Collaborative, said in a press release last fall that the Plymouth location is ideal for multifamily housing. “It’s near parks, shopping, facilities and jobs and has great access to major streets and to transit,” Blons said. Related: West View Estates opens in Plymouth Agency awards $126 million to affordable housing projects Copyright © 2018 Finance and Commerce | Suite 900, Campbell Mithun Tower, 222 South Ninth Street,Minneapolis, MN 55402 | (612) 333-4244 Page 23 https://www.architecturaldigest.com/gallery/most-beautiful-private-high-schools-in-america Page 24