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B Sand Co Housing Discussion CITY OF CHANHASSEN 7700 Market Boulevard PO Box 147 Chanhassen, MN55317 Administration Phone 952.227.1100 Fax: 952.227.1110 Building Inspections Phone: 952.227.1180 Fax 952.227.1190 Engineering Phone: 952.227.1160 Fax: 952.227.1170 Finance Phone 952.227.1140 Fax:952.2271110 Park & Recreation Phone 952.227.1120 Fax: 952.227.1110 RecrealiooCenter 2310CoullerBoulevard Phone: 952.227.1400 Fax 952.227.1404 Planning & Natural Resour1:es Phone 952.227.1130 Fax: 952.227.1110 PubticWorkS 1591 Park Road Phone 952.227.1300 Fax: 952.2271310 Senior Center Phone: 952.227.1125 Fax: 952.227.1110 Web Site www,cÎ.chanhassen.mrt.lJs 13 MEMORANDUM TO: Todd Gerhardt, City Manager FROM: Justin Miller, Assistant City Manager::JjIII. June I, 2005 ~ Sand Companies Tax Credit Application Discussion DATE: RE: BACKGROUND The Sand Companies have acquired the property at the northwest corner of new Highway 212 and the relocated Highway 101. Within their entire development, which is proposed to include ISO housing units and six acres of commercial development, they intend to construct a 48 unit apartment complex. The Sand Companies have had success in the past in constructing apartment complexes that are in the more affordable price range than many of the housing options currently available. The Sand Companies are in the process of applying for the Minnesota Housing Finance Agency 2005 Housing Tax Credit Program. This is a very competitive process, as numerous applications are submitted for a finite amount of resources. One way in which their application can gain additional points is for the local jurisdiction to assist in their application. There are numerous ways in which the city could help, and they include: · Waiver of assessments · Density bonuses · Reduced setbacks · Decrease road widths · Flexibility in standards · Waiver of fees · Tax Increment Financing Their PUD application is being considered by the Planning Commission on June 7th, with an anticigated City Council date of June 27th. The tax credit application is due on June 28 ,so they are looking for any direction possible for their application. Some of the above items may be addressed in the PUD which is currently being developed (setbacks, flexibility in standards, etc.). However, the developer is interested in learning if the city council is willing to create a Tax Increment Financing (TIP) district to help support the project. If a district were to be created, staff would recommend that it be structured similar to the Presbyterian Homes district. In that case, the developer is receiving 90% of the increment produced for five years, then 50% of the increment produced for another two years (total of seven years). While exact numbers would have to be fleshed out, a preliminary analysis would look like this: The City 01 Chanhassen' A growing community with clean lakes, quality schools, a charming downtown, thriving businesses, winding Iralls. and beautllul parks. A g_at place to live, work, acd piay "'.' 48 units paying $1,200/year in taxes 90% of increment for five years 50% of increment for two additional years Estimated total contribution $57,600 $259,200 $57.600 $316,800 This is a very preliminary number, and cannot predict future tax rates or property assessments. A full process, including a financial analysis and public hearings, would still need to be followed in order for a TIP district to be approved. Representatives from the Sand Companies will be present at Monday's meeting to make a brief presentation about their company and project. RECOMMENDATION Since the deadline for the tax credit application is rapidly approaching, the developer would like some direction on what, if any, assistance the City is interested in approving. While formal approvals cannot be provided by the deadline, a letter of support indicating what the City is willing to provide will assist the developer in their application process. Development Plans: Gateway Place Chanhassen, Minnesota A Multifamil:g Livinø eommunit:g Prepared for: Chanhassen City Council Prepared by: Sand Companies, Inc. 366 South Tenth Avenue PO Box 727 Waite Park, MiIlllesota 56387-0727 Telephone (320) 202-3100 Facsimile (320) 202-3139 www.SandCompanies.com +SCI StiIul c8lrt1fBlies, Inc. -............................... (320) 202-3100 Wlite ParI:, MinnBsota wWKlSøndCompanies.com June 1,2005 r r r I r , r r r : r r r r r r r r r r r r r T ABLE OF CONTENTS Executive Summary Project Developer/ Architect/ContractorjManger Development Location Development Site Building Description Unit Mix, Rents & Income Restrictions Property Management The Need for life Cycle Housing Local Partidpation - A Key to Being Selected Development Timeline Conclusion Attachments Preliminary Development Plans Required City Support Letter City Reference Letters MHFA Scoring Worksheet Sand Companies, Inc. Profile ~.SCI StiIul CmIpønin, Inc. -=--."'-~.~ (320) 202-3100 Wlüe /'brk., MÙUJesotø .._Sll'lI'dr_paII~ Page 1 Page 1 Page 2 Page 3 Page 4 Page 5 Page 5 Page 6 Page 7 Page 9 Page 9 Attachment I Attachment n Attachment ill Attachment IV Attachment V r r r r r r . Gateway Place . A Multifami(:g Livinø Communit:g r Executive Summaty The proposal described herein is to request support from the City of Chanhassen for a 48 unit affordable housing, tax credit development at the northwest corner of new Highways 101 and 212 called "Gateway Place". The three story apartment style building will include underground heated parking with six one bedroom units, twenty-seven two bedroom units and fifteen three bedroom units. r The location of Gateway Place is a perfect fit for the Smart Growth concept as the site does not require extensions of water and sewer, is near many services and jobs and has easy access to transportation as it is just north of the future Southwest Metro Transit Station. With support and assistance from the City of Chanhassen, Gateway Place will be a secure, well-maintained and managed community that offers life cycle housing opportunities for the residents of Chanhassen. r r r , Project Developer/Architect / Contractor /Manager Since 1991, Sand Companies, Inc. has earned its reputation for professionalism, thorouglmess and proven results in the construction, property management, development and architectural industries. Our reputation and accomplishments can be attributed to the many successful partnerships formed over the years. Not only do we facilitate all aspects of the real estate development, we become a part of it by establishing successful working relationships and communicating effectively with all parties involved. J!'!' ! r r Since our inception in 1991, we have successfully developed and/or constructed eleven senior housing developments (3 81 units), eight luxury rental developments (1,173 units), seventeen affordable housing developments (452 units), eleven limited service hotels (853 guest rooms) and six single family developments (242 lots). With careful planning and extensive due diligence, Sand Companies, Inc. has built a successful portfolio and has developed a track record of successful real estate development. (See Attachment V) r r r ~gl .--."-".......~ (320) 202-3100 'MiIlt.. Ibrk_ MllUUlDtø ",...~..~1a.cøI r ,. ¡ r r r r r r Development Location The Gateway Place project site is located at the northwest quadrant of the new Highways 101 and 212. The site is just one-quarter mile south of Downtown Chanhassen and Highway 5. The access point for the site will be off of future Lake Susan Drive. Lake Susan Drive will connect to the realigned Highway 101 which will be controlled by a traffic signal. The proposed assessment to this site for the traffic signal and the turn lanes on Lake Susan Drive are $22,500. Development Location r Future Residential & Commercial r r r r r r r r Future SW Metro Transit Station r Site w/Highways 101 &212 r r r ~ Gateway Place Development Plans 2 r r r , Development Site On May 2, 2005, Sand Properties, Inc. purchased 20.17 acres from James and Barbara Curry which encompasses land at the northwest and southwest quadrants of future Highways 101 and 212. (See Attachment!) r r r Development Site r r r r , r , .. . The development site for Gateway Place is 2.19 acres in size and fronts future Lake Susan Drive to the north, future Highway 212 to the south and the newly aligned Highway 101 to the east. The property to the west of the site is also being developed by Sand Companies, Inc. and its proposed use is residential townhomes. r r The site will share a common access with the townhomes with signage located at the access point. The site will be fully landscaped with trees, shrubs, sod and lawn irrigation system. A private tot lot for the children of Gateway Place will be located in the courtyard on the east side of the building along with a patio area with grills, picnic tables and benches. r r Forty-eight surface parking stalls are proposed along with an access drive on the south end of the building to the underground parking garage. Catch basins for storm water will be located throughout the parking area and will drain to a common retention pond. The site will be fully lighted with lighting types that meet the City Ordinance. r r .. , ~ Gateway Place Development Plans 3 " ~ r r r r Building Description Gateway Place will consist of forty-eight units within one building. The building will be three stories above grade and will incorporate wood frame construction. The below grade, 60 space parking area will consist of poured concrete or block walls with structural concrete pre-cast decking and columns. The exterior of the building will be rock-faced block and steel or vinyl siding and will incorporate accents and decorative louvers. (See Attachment I) r r Building Elevation r ~.5U5Þ.N~~e.LtVAT.QN r r Common Amenities: · Underground, Heated Parking · Resident Storage · LeasinglManager's Office · Secured Entries/Camera System · Reception Area · Mail Room · Trash chutes · Elevator Unit Amenities: · Dishwasher · Refrigerator · Self cleaning range · Walk-in Closets · Over the range microwave · Washer & dryer . · Mini blinds · Emergency call system r r r Floor Plans r J~ r r r r .';:¿::,,!,~~ -.-"""''''''...., ,"-~':!""'~.. r' , r' ~ Gateway Place Development Plans 4 , r , r r . Unit Mix. Rents & Income Restrictions Gateway Place will provide six one bedroom units, twenty-seven two bedroom units and fifteen three bedroom units with very affordable rents for working families of Chanhassen. r The proposed contract rents include one underground parking space, water/sewer, refuse removal and heat. All units will have income restrictions set at 60% or less of area median income (AMI) and rents set at 30% of 50% of AMI. Below is table summarizing unit mix, rents and income limits: r r Unit Mix. Rents & Income Limits r i; # of Units 6 27 15 # ofBR's I 2 3 Sq. Ft. 850 1,100 1,450 Projected Rents $ 650 $ 825 $ 900 Annual Income $ 36,960 or less $ 46,200 or less $ 49,920 or less Hourly Income $ 17.77 or less $ 21.21 or less $ 24.00 or less r ¡ r Table Notes: I. Unit Square Footages are approximates 2. Projected Rents are contract rents and do not include resident utility allowances 3. AMI for Carver County as of March 1,2005 was $77,000 according to HUD 4. All incomes are household incomes 5. Hourly income is based on 2,080 hours annually 6. Annual & hourly income restrictions for a one bedroom unit is based on a household of two 7. Annual & hourly income restrictions for a two bedroom unit is based on a household offour 8. Annual & hourly income restrictions for a three bedroom unit is based on a household of five r r r Property. Management Good property management is the key to a successful rental property. Sand Companies, Inc., who currently manages over 1,100 rental units and six limited service hotels, will manage the day-to-day and ongoing operations of Gateway Place. r r Sand Companies, Inc. started in the business of rental property management in 1998 when it became challenged with the poor third party management and maintenance of its properties. Since Sand Companies, Inc. is a long-term owner of its properties, high quality management practices are the goal and the standard. With hands-on management, potential property and resident problems are headed off and the continual practice of preventive maintenance preserves the long-term quality of the developments. A visit to any of the sites managed by Sand Companies, Inc. will show how important attention to detail is to the company. r r r Sand Companies, Inc. will be responsible for hiring and training the manager, marketing the property, setting up strict resident selection criteria, along with daily communications, regular site visits, accounting, human resources, renovations and purchasing on behalf of the property. r ,. t tiQ Gateway Place Development Plans 5 . r · r · r r As a manager and owner, Sand Companies, Inc. has a very strict and stringent resident screening process and is an active member of the Crime Free Multi-Housing Prograrn wherever available. All potential residents sign off on receiving the specific screening criteria before filling out an application. Sand Companies, Inc. not only does local checks on applicants, but also out of state checks, as applicable. The following is a brief summary of Sand Companies, Inc.' s minimum screening criteria. Sand Companies, Inc. reserves the right to be more stringent. r · r I. Age: All applicants must be at least 18 years of age. Any residents 18 years of age or older must be listed on the lease and also meet the screening criteria. 2. Income: For income restricted units, total gross household income must be at least two times the amount of rent, including utilities. 3. Credit: Applicants with consistent history of NSF checks will be denied. Applicants with outstanding collections or judgments will be denied. Any applicants with an unlawful detainer will be denied. Applicants that have filed for bankruptcy in the last three years may be denied. Extenuating circumstances may be considered in the event of medical or other catastrophe. Applicants with a consistent history of late payment of their financial obligations will be denied. Sand Companies, Inc. also establishes minimum credit "beacon" scores. 4. Unlawful/Criminal History: Applicants with a history of unlawful or criminal activity will be denied. Persons involved in drug related criminal activity will be denied. Sand Companies, Inc. also uses the CrimelDrug Free lease addendum, which is signed by all residents (18 years of age or older) of the household and is made part of the lease. Applicants with dependents in the household with criminal offenses will be denied. 5. Rental History: Applicants with a rental history must provide at least one verifiable rental landlord reference with a minimum of one-year rental history. Applicants with a history of late rental payments, verified housekeeping problems and/or a history of disturbing the peace will be denied. r r r < r ,. , . r r po . The Need for Life Cycle Housing According to the Family Housing Fund, a non-profit funder for affordable housing in the Twin Cities metro area, housing is "affordable" if a family pays no more than 30 percent of its income for housing costs. In the Twin Cities metro area, more than 185,000 lower income households pay more than this amount for housing. Almost half live in the suburbs. r ; r GV A Marquette Advisors reported that the average rent for a two bedroom and three bedroom apartment in Chanhassen was approximately $1,050 and $1,250 per month, respectively. Based on 30% of household income going for rent, a resident would have to earn an annual wage of $42,000 ($20.19/hr.) to afford a two bedroom and $50,000 ($24.04/hr) to afford a three bedroom apartment in Chanhassen. I"" ... , ... ~ Gateway Place Development Plans 6 r r r r r With a significant number of employers in Chanhassen being retail, service and manufacturing related, most positions offer wages well below the housing affordability level currently available in Chanhassen. The projected contract rents for Gateway Place make housing affordable (30% of income for rent) to residents for a one bedroom unit that make an annual wage of $26,000 ($12.501hr.), $33,000 ($15.871hr.) for a two bedroom unit and $36,000 ($1 7.3 llhr.) for a three bedroom unit. Professions that fit this wage include bank tellers, medical records technicians, school bus drivers, teacher's aide, home health aide, office/administrative support, retail sales and many others. The Chanhassen Comprehensive Plan states that" . . . One of the primary purposes of a community is to serve as a place of residence for its citizens. Assuming this charge, offering a mix of life cycle housing opportunities becomes a challenge for local governments...". "...While committed to providing life cycle housing, the city must overcome obstacles to their development. One of the most difficult impediments to providing one facet of life cycle housing and/or affordable housing, is land cost..." "...Developers must be brought in as partners in providing life cycle housing...". Sand Companies, Inc. is offering to help meet some of the life cycle housing needs in the City of Chanhassen at a location that is ideal for this type of housing. As the City Comprehensive plans states, the city can not do this alone and we as a developer can not do it alone either. We are proposing a partnership with resources from Sand Companies, Inc., the Minnesota Housing Finance Agency (MHFA) and the City of Chanhassen to complete a life cycle housing development that offers an affordable housing option to working families of Chanhassen in a manner and design that is no different than a typical market rate multifamily development. r r r r r r " Local Participation - A Key to Being Selected The main funding source for Gateway Place is proposed to be federal housing tax credits which are allocated annually by MHFA. The Section 42 tax credit program is a national program that started in 1987. It is one of the most successful housing programs ever in the United States as it promotes private development of affordable housing versus public ownership and management. The application for funding is due to MHF A on June 28, 2005 for an allocation of 2006 credits. Because of the program's success, getting awarded a tax credit project is extremely competitive with much of the State's allocation going to non-profits in Minneapolis and St. Paul. The MHFA application weighs heavily on local participation as this allows more State dollars to fund more projects. Without local participation, an application by a for-profit developer has little or no chance of being funded. (See Attachment IV) Since the inception of the tax credit program, the City of Chanhassen has only received two allocations for projects in the city. One allocation was back in 1990 and the most recent one was nearly five years ago in 2000. Considering the growth, size and location of Chanhassen, only two projects is highly unusual. As a comparison, the City of Chaska has at least seven projects and an additional application coming in this year in which the city is participating with tax increment financing. r r r r r r r r ~ Gateway Place Development Plans 7 r r r r r As an experienced owner and developer of tax credit projects. Sand Companies, Inc. has had very good success by being awarded ten housing tax credit developments in the cities of Lakeville ('95), Albany ('96), Hutchinson ('97), Mahtomedi ('98), Chaska ('99), Shakopee ('00), Blaine ('01), Bloomington ('01), Shakopee ('02) and St. Joseph ('04). We are confident that with local participation, the Gateway Place application will be very competitive. Local participation from the City can come in many forms from financial to flexibility in development standards along with letters of support. Of course, the more the City is willing to participate with, the higher the project will score on the tax credit application. (See Attachment III) r , r Below are a list of participation methods and options we ask the City to consider for Gateway Place. We are not asking for all of them, but rather just providing a list for the City to pick and chose from based on what it feels most comfortable with. r Fee Wavier or a Portion Options to Consider Agree to establish a housing TIF district similar to other past projects in Chanhassen Agree to the waiver of the $22,500 in assessments relating to the site Allow higher density thus reducing per unit land costs Reduce setbacks Reduce parking needs Allow a private drive into the site versus a public road Work with us on such things as flexibility in the building materials and fast track approvals City SAC/WAC Park Dedication Water Quality/Quantity Development Fees $ 145,440 $ 148,800 $ 17,950 $ ??? r Participation Method Tax Increment Financing r Waiver of Assessments Density Bonuses r r , Reduce Setbacks Parking Requirements Decrease Road Widths r Flexibility in Standards r r Because of the high land costs associated with this site along with the significant fees in Chanhassen for multifamily projects, flexibility in development standards will probably not be enough to help this project get selected by MHFA, especially with State cuts in MHFA's funding sources. We strongly encourage the City of Chanhassen to agree to set up a housing tax increment district for the project. The City does not need to establish a TIF district and have all the details worked out by the time of application, but just needs to commit to this if the project is selected. (See Attachment II) r r r , r ~ Gateway Place Development Plans 8 ..'"..< r r r Development Timeline We have compiled and reviewed a substantial amount of information as it relates to Gateway Place in Chanhassen. Our research and knowledge of the industry indicates the development of this multifarnily housing concept appears to be timely and feasible. We have targeted June 1,2007 as the opening date. r r r To meet these target dates, the following critical path of events is necessary: Conclusion The site for Gateway Place accommodates all the principals of Smart Growth including linkage, jobs, land use and transportation. The site is a new development area and neighborhood issues relating to affordable housing will be minimal. The proposed development plans mirror the goals outlined in the Chanhassen Comprehensive Plan. With local participation ITom the City of Chanhassen, local dollars can be leveraged against much greater State and Federal Funds. When complete, Gateway Place will offer life cycle housing options for the residents and employees of Chanhassen. I. Letter of Commitment from City of Chanhassen for local participation. 2. Make application for tax credits & financing to MHF A. 3. Gateway Place receives award from MHF A. 4. Complete City approval process. 5. Final plans & specifications. 6. Closing on financing. 7. Begin construction. 8. Initiate Marketing Plan. 9. Construction Complete. r r ,.. t ,.. r r r r I Thank you for your consideration! r r r r r June 2005 June 28, 2005 October 2005 January 2006 April 2006 July 2006 July 2006 April 2007 June 2007 ,. ~ Gateway Place Development Plans 9 , r " ,;! , r r , f r f r f' f", i? i if Ir I, i, j 1 , ~ r ·i '1 ¡r J ~ Gateway Place .- A Multifmtril» LiviHg CottØtUtH1tJ Attachment I Preliminary Development Plans _I .-....-........- (320) 202-31(J() ~ .~ ..""..... if¡' .R:">1J<!lf On I r r r r , r r r r r :r r r r r r r , r r r , 5Ji11!!!utl ~!114!1I lill !I :1:1\ ~)O,,_ il~ ~Ii. I I ~2:\.ù ~ 111\1 I 11\" II!I ~~!!j~1 ~ 9 ... ill II Ii II "'I h ~ .. i ¡ « llil II I ,. 1111 0 u !i ¡ ~i ¡ i~ o ª! ¡ U § êì z . , ' . , §()ø0íJ98 ;IVfOllI01'~VMH:)l~ l!!!ml 1 ~..¡¿ . . 1m m ¡ ~\¡ ~ Ii! '1111 !im ;;¡ ¡ ! (......! n i; ~:'..'~~' I ..I, mi I I I_~t':"~jl-' !~H 5 ~ . uu !IIIII 1 ~. ~! :s~ \11~ ~ "- ....,.. ~,. _..".,."w... _F~'- . .___m'_ , \ ,___.u_' i'\'. r' i It 1\1.~11\~~~~~r~J\II~t I ~ l"Ii~\\~I\r.~\ ! 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J ~I~ i. ~i; !~ II I:::: II 1-1" ~§ .! .! @ r , , , r , , r , , , . . rJ , , I I~ ! ,< I , " ii'; ¡ I ¡- ,,}~ I Ir I .··..,·GaœwayPlace __ A Mvltif4Øril:,LirmtØ~it~ Attachment II Req·uired· 'c¡.Suppørt. "Le' . "',. "tv, .<. ~ ...... ',. ......' ....'. "., "¡'JIiiJ- ..............:,,' ......... '" >, -;'~.L -.-.. .- (32lJ) .,... tiIru. ~ ~g' " "'. T···' !fill.' ;:'.' ;'i':i!:¡ "iiC':·-,:.:;;,''--;' r' r (City ofChanhassen Letterhead) r June ---' 2005 r' ,.. Minnesota Housing Finance Agency 400 Sibley Street, Suite 300 St. Paul, Minnesota 55101 Attention: Multifamily Underwriting ,. r' !'" RE: Housing Tax Credit Program & Super RFP. GA TEW A Y PLACE, CHANHASSEN. Dear Multifamily Development: !'" , ,.. The Chanhassen City Council, at its meeting held on June _' 2005, has reviewed and endorsed the housing development proposal called Gateway Place which proposes forty- eight units of apartment homes within the City of Chanhassen. This endorsement is based upon the findings that the project will meet locally identified housing needs and that the proposed housing is in short supply in the local housing market. This need is evidenced by the gap between the local supply and demand for the proposed type of housing. r r ,.. (If applicable) The City also proposes local financial assistance for this project as part of its endorsement through the use of tax increment finance (TIF). The Chanhassen City Council has approved TIF at _% for _ years. Based on preliminary tax figures, the approximate value of the assistance over the life of the TIF is $ The City Council and Planning Commission have also reviewed the development plans for Gateway Place and will offer flexibility in development standards such as reduced set-backs, density bonuses and fast track permitting and approvals. r r The City Council's endorsement is evidenced by this letter of support for the proposed development. This City has taken significant measures including financial assistance as its part to help this project move forward. We respectively request funding approval for this needed development in the City of Chanhassen. !'" Sincerely, !'" !'" Name Title r ,.. r f f i, I :t I I. ì , r I Ff: I, I ìr I, I '. " ;~ "i :1] . 1 , i , ~ " ..-~ :: j " }' ': I ~ i Jf' ,'J- 'j --~ I 1 f.' ) :: ¡ J ~.Gatewa.y Place -. A M1dtiførril~LitJiøø·~ Attachment ill Ci .ty ,Letters ," " ,"" '-.",', "",,' -.... ',.' . . . . , ',,', ' '. ." -.- - (321) 2Ø2.3BJtJ ..,..= :::: 1f.!,I:}.. .. ßf' . -;;>.-<.,·'-:_;.f"_" !"" P"" , C it y o f Arlin g ton 'P"" Councilmember Noack introduced the following resolution and moved for its adoption: r RESOLUTION NO. 11-2004 r RESOLUTION PLEDGING TIF SUPPORT THE FAIRVIEW TOWNHOME PROJECT "" ¡: WHEREAS, The Arlington City Council has reviewed and endorses the housing development proposal called Fairview Townhornes, which proposes twenty units of rental townhomes within the City of Arlington. This endorsement is based upon the findings that the project will meet locally identified housing nee~s and that .the PJ:opos~ housing is in sp,ort supply in the local housing market. This need is e~çlenced bý tI:i1' gap between the\\ocal suppl~ and demand for the pr9posed typeQf,ho~", ¡ i ~) .. . '\ '\. BE IT RESO{V~D, that the City of Årlïr.gtOIlIkre,\{Y~~P9SeS tocal.financial assistance fòtthis \ ( proje.ctfas part of this ~dorseI)1ent throu~ ti!~. ~ 'Of tax Th.~fément~finance (TIF). The Arlingtort,Pty ( ÇòÍIDcil has approved uÌ!-frpnt TIF Revenûè,'Note at 90% for~5Yéarsinthe ~oupt of $107,000. . \. £lased on preliminary ,tax figures, the approximate value of the assistance over tbélife of the TIF is ( $~63 ,551. The City dQuncil andN~. C0IIltnt~ioIl4ate also reviewed the de. velopment plans for ) the Fairview Townhomes-.and wiÍl ~ohstdl* s\l.b\\Æìg'!1<ffib1IitÿIM1lt\!-ærdþ\:nent starldards such as ! reduced set-backs, ~ensjtyiboI¥1ses ar~\f~~h~a~Pff1#~*,~WItf?vals. I,. i The motion fg})ne~bpi¡o~.. of)~- fóri:going res?l~tionwas duly secon¡:led .~y;C~~~n~~Þer V~klan ani upon poll beìn~ tak~ thè'fepn the f911 . ,_. éd in favor thereof: Grj.e~ NØ'ack;.:Réetz, VOight, VrW~ and the fõll~ngvoted'ag~t the sam one; a# the f~lJ,ºwmgabStaim;d fto.m votin~/ ~ None;~~efollOíg were ~~s1Æ"., ne:.. , ~ i. _ I /. ; A@predbyth,C,tyèoon'ilt Å'~ [8L.' ~~' ' Mayor \. \ ì", r .. , P"" r r \ \ \ r " ,. !"" !'" Attested: reasurer !'" Whereupon said resolution was declared duly passed and adopted and was signed by the Mayor whose signature was attested by the City Administrator. .. III ¡; !'" P" 204 Shamrock Drive . Arlington, MN 55307 507/964-2378 . Fax: 507/964-5973 . E-mail: arling@frontiemet.net !"" ,. r c it y o fAr I ington July 20, 2004 r r' Minnesota Housing Finance Agency 400 Sibley Street, Suite 300 St. Paul, Minnesota 55101-1998 r' , ,. RE: Fairview Townhomes. Arl~gto~ Minµesota. , . "-, \ ¡(earMulti~IY Development: \ '\"< \!:'~<i<i '/ \" < " ( 1ße!City of MíngtQn is conunitted tkp~~g"~o~12-fQi.e~ hO\1sing to the city, which offers, a ( ¡Wide range of hous¡rt~ 9þporturli1ies fòt\1fs residents. 'I1\é-)~ity hl\S'coo~ra¥,ely developed 'a ;> \ plan with the Devetoper of the Fairview Townhomes to p:ovide this needed líöüsjng in the city. \, . AJ,,¡lu.0I1l1 t)tu,(,)1 ('pmrnun¡l'J . j The City proposes 10è1¥ fmancI asslSta!1Ci( tor tnIS PtOJect as þà'tt. of Its ,enâorsement. The ( Arlington City Co~cil ha\i appr<kèRi~~Hwt~Wwt~~crihçusing district for the project. Based on N:.eliIñj~ tax tl~~s>)he apþróXiìhâte value of the àssis~ce bVèr, ~e ljfe of the i increment~od '¡fophè,developíÍ1ent is $263,,5?1. The up-front assi1ltar.c~ in\tbé fol'lft pf a TIP . ,$e(~n~~ Note,~ ~~"aciIo1pt of ~1,OOO _, 'îh.e' àevel'eptnent ~lrinclµ(Íe ~ts. for land " ~SltiOn, publn; unþfovefnenw and adm tratlOn ~sts f?¥ettiIig Ìì¡; ~~ tãx, mcremÿIit / diSttiètõ) , ! ì I. ," , ! ~,J Land Donation of the Dev ce, ·th'eeitfis Willing '0, to purchase the site and do ) ..., . r-"-"-~;~;:-:'-- ,.- ....w_.., ...- ~, .... . 'I Waiver of Develo ent Assessments. As part of the tax increment fin!\I1ce, the city is willing to waive the public' provenient assessments for the development. : \ I, I r ,.. ,. , I ' r \ / r ,. !'II Density Bonuses.: The site of the Fairview Townhomes is an R-l Single and Two Family Residential District. To allow for the much higher density of multiple townhomes on one lot, the city will approve the re-zoning of the property to R-3. These density bonuses allowed more units on the property thus reducing the per unit land and improvement costs. ,. ,. Reduced Setbacks. If necessary, the city is willing to reduce needed setbacks for the Fairview Townhomes. .. '-' Decreased Road Widths. The city will allow the utilization of private roads into the development property to access the townhome units. Typically public roads would have widths of 32' to 36' r ,. 204 Shamrock Drive . Arlington, MN 55307 507/964-2378 . Fax: 507/964-5973 . E-mail: arling@frontiernet.net ,.. r r Minnesota Housing Finance Agency July 20, 2004 Page 2 r within a 50' or 60' right-of-way. By allowing the use of the private roads, the width is reduced to approximately 24' with no required right-of-way. ,. r Flexibility of DeveloDment Standards & Code Requirements. The city will be flexible in its development standards within the R-3 zoning along with flexibility within the code requirements for the Fairview Townhomes. r Fast-track Permittinll & ApDroval. Fairview Townhomes will be required to meet all building code requirements. Timing can be essential for the succesS"of a'project and the city and its building official will, to the best of their abilities, work with owner to allow for fast-track permitting approvals. I'" As has been previously stated, the City of Arlington is committed to the development and completion of work force housing within the city. As part of our cooperatively developed plan ,. and agreement to complete this, we support the Fairview Townhome development. We ask that you participate with us to help meet our common goal of affordable housing in the City of Arlington by funding this development. !'" Sincerely, !'" 9mJ ~~/ David Czech I'" Mayor I'" I'" !"" I'" "'" I"" I'" r , RECEIVED JUL 2 1200~ ,. r r c it y o fAr I i ngton r r ,. July 19,2004 .. ¡. . '-"'-,,- "'\ ,/ ..... "'\ ~~sota fI~ing Finance Age~~y , 400 Sibley'St{eet, Suite 300 ' }.> y,'.\ ~ Ii -' (( ¡SJ,.paul, Minnèsota'~-rI~I-1998, !<\~;,. .~ ~ ., '-':';" . '\,,1 , ì \ RE: Faï:view To~omes .. \ \ \ Arlmgton,Mü:¡n~ota A Cillj uncI PIII'()I (:PIII!11unillj /' , DearMultifami~DS.v~iop¡µent: "isine¡ loc¡dlH'1' In LJuih¡ . \ >,..;~s~~i~=t~i~í;~;~~h~:_on:~~~;~:~~~~~i~~~~~es *4~ the City o~liÌigton/"'ThiJ1é.ndorsemls base~on ~'efl).J.din:gs that tl}e project willi ~ me~1ocal11.. identi.·.fjed ho ing!e . and that e ro o~edm. 0.' '.'\' ~ ::j short !¡úpply în the.,JOF I housing-market. ,J ,""'H-' . .:,~ \ ; , . " ~~_~_.__ º _ . . _. -__ '_JJd-k!. :.. .-_. : \" ,.....-,/ '- / The City C?un~il's endors mNiat~fìei€;apt~~.'mm~lution No. 11-2004, a copy of which ¡sa ched t, s.k!_~-_./ ..... I, " ..z ", \ r I'" " '. \ : , I r \ ! r -' .. .. Sincerely, r SclwJ ~J) David Czech I'" Mayor .. ,. ,. r 204 Shamrock Drive . Arlington, MN 55307 507/964-2378 . Fax: 507/964-5973 . E-mail: arling@frontiernet.net ! r' ¡ r r r r" 1 Administrotor ,.. Judy 'Weyrens l' Moyor I"" Lony J. Hoscl, Councilors r AI Ros~er Ross Rieke Gory Utsch ,.. Odle Wick ,. ,.. I!"' r ,.. I"" " ,.. ,. 'i ,. , r CITY Of ST. JOSEPH www.cityofstjoseph.com July 19, 2004 Minnesota Housing Finance Agency 400 Sibley Street, Suite 300 St. Paul MN 55101-1998 Re: Momingside Townhomes St. Joseph, Minnesota Dear Multifamily Development: The St. Joseph City Council on July 15, 2004 endorsed the housing development proposed by Sand Companies entitled Moruingside Townhomes. The proposed development includes thirty-two Townhomes within the City of St. Joseph. This endorsement is based upon the [mdings that the project will meet locally identified housing needs and the proposed housing is in short supply in the local housing market. This is evidenced by a housing study prepared in 2001 by Admark Resources. Evidence of the City endorsement is evident when reading the attached letter of support. The City would not have approved the financial relief in building permit fees or park dedication fee nor would they support variance fÌ'Om the design standards of the newly revised St. Joseoh Code of Ordinances if the project were not needed. Sincerely, CITY OF ST. JOSEPH ~~ Larry Hosch Mayor l, College Avenue North' PO Box bb8 Phone ,lO ,b'.7l01 ,h74 . Sdint. Joseph. Minnesotd I'd X 'lo.,b,.0'4l r r I CITY Of ST. JOSEPH ,. ,. r AdministTðtOT I'" Judy Weyrens M"YOT ,. Lðrry J. Hosch , Councilors r AI R<.ssier Ross Rieke Gðry Utsch r o"leWick r ,. r I"" ,. ,. ,. ,. ,. r www.cityofstjoseph.com July 19,2004 Minnesota Housing Finance Agency 400 Sibley Street, Suite 300 St. Paul MN 55101-1998 RE: Morningside Townhomes St. Joseph, Minnesota Dear Multifamily Development: On behalf of the City of St. Joseph I would like to thank you in advance for consideration of the tax credit application of Sand Companies to develop a moderate income housing development. Like most communities, the City of St. Joseph is experiencing considerable growth. Part of managing growth is to assure that housing is available for all ages and incomes, commonly labeled Life Cycle Housing. The concern for Life Cycle Housing in the St. Cloud Area became a focal point in 2002. During that time five St. Cloud area cities (St. Cloud, Waite Park, Sartell, Sauk Rapids, St. Joseph) collectively met and executed a Joint Powers Agreement whereby each City agreed to require 15% of new housing stock to meet the definition of affordable housing. To assist the Cities with implementation, an outside agency has been hired. This agency coordinates quarterly meetings of the Cities, assists with marketing the affordable homes, provides gap financing to qualified buyers and prepares an annual report. St. Joseph is committed to the goals and objectives outlined in the Joint Powers Agreement. In April of 2004 the City was presented with a concept plan prepared by Sand Companies for the development of an area known as Morningside Acres. The proposed development included single family homes and a portion labeled "Rental Life Cycle Housing". The Rental Life Cycle Housing is defined as housing where the rent is no greater than 30% of the monthly income of households eaming 65% or less of the area median income, adjusted for the size of the unit, as specified and periodically updated by the US Department of Housing and Urban Development. The Rental Life Cycle Housing Units (entitled Morningside T ownhomes) will maintain the aforementioned income levels for a period of not less than 15 years. The Rental Life Cycle Housing project presented by Sand Companies meets the requirements as stated in the Joint Powers Agreement providing needed affordable housing for the area. The City of St. Joseph recognizes the increasing cost of new construction, and further recognizes that these costs limit the ability of developers to provide affordable housing. Just as developers are limited fmancially, so are cities. St. Joseph is committed to the provision of Affordable Housing, and offers the following in support of the Morningside Townhomes: L~ College Avenue North' PO Box Phone Fo.,6'.7L01 ~6,74 668 . Sðint. Joseph, Minnesotð 'ðX ,Lo.,6,.014L r r r July 19,2004 Minnesota Housing Finance Agency Page-2- I'" Waiver of Plan Review Fee: Every building pennit for the City of St. Joseph is charged a Plan Review Fee which is equal to 10% of the Building Permit Fee. This fee is assessed to ensure that each building meets the State Building Code and St. Joseph Code of Ordinances. The process will still be completed, but the fee for that service will be waived resulting is a City contribution of approximately $ 70.00 per unit or $ 2,240.00. ,. ¡ ,- , Waiver of Park Dedication Fee: The City of St. Joseph requires all developments to connect to the St. Joseph Park and Trail System. This fee is part of the Park Dedication Fee but calculated separately. Based on an estimate, the Council waived $ 9,617 of the connection fee. r ,. Increased Densitv: The area known as Momingside Acres is located in Planning District 13 of the St. Joseph Comprehensive Plan. This area was identified for Single Family Development. The City Council and Planning Commission unanimously approved an amendment to the Comprehensive Plan to allow for increased density and multiple family zoning. This amendment was significant, as the Comprehensive Plan has only been adopted for one year. Without seeing the plan, there was hesitancy to amend the Plan as it was just adopted. However, after reviewing the development plan of Sand Companies the hesitancy disappeared. r I'" Reduced Setbacks: The Planning Commission has reviewed the plat for Momingside Acres and acknowledged that certain setback requirements cannot be met. Therefore, the Planning Commission authorized the public hearing for variance of the rear-yard setback. Without the variance the density would be reduced. The Planning Commission encouraged the application for variance so the additional housing units will be available. I'" ,. Relief from Design Standards: St. Joseph spent considerable time and resource revising the Zoning and Subdivision Ordinance. In this review, the Subdivision Ordinance was amended prohibiting private streets, requiring all buildings to front a public street and imposed setback requirements ttom holding ponds and wetland areas. Based on the submitted plan, a variance will be needed ttom the same design standards amended. However, the ability to provide Life Cycle Housing is important enough to grant the needed variances. ,. , I'" Private Streets: As stated above the proposed development includes use of private streets. In a typical subdivision streets are platted with a width 66', paving a width of36'. In an effort to reduce the road costs, the City is allowing the use of private streets with a width of24' and no additional right-of-way. I'" Exnediencv of Process: The City recognizes that timing of projects is essential. The normal platting process in the City typically extends over a three month period. Typically if a deadline is missed, the plat is held back until the next meeting date. However, with regard to Momingside Acres, the City allowed the plat to move forward prior to having all the [mal documents and considered the plat within a 30 day period. r r As stated throughout this letter, St. Joseph is committed to providing Life Cycle Housing and demonstrated this commitment by working with the developer to reduce construction costs through both !"' !"' r- .. , r July 19, 2004 Minnesota Housing Finance Agency Page-3 - I"" ¡, r financial concession and relief of design standards. On behalf of the City of St. Joseph, I would respectfully request that the Minnesota Housing Finance Agency consider this as a worthwhile project, as does St. Joseph, and fund the Momingside Townl¡.ome Development. ~ Sincerely, "" CITY OF ST. JOSEPH "" ~~ Larry Hosch Mayor r- r" "" !'" "" .. ,. .. .. .. pili f f II - ,'¡ . 4ItGaœwa.yPIaœ ifIi· A M:øJtifiØM11JLrvmø~ : r, I'] I I if I, , F ,~ ! " I , I ,r I. IF 1 ¡f 1 I' j l' i. '1 ~ 1 ;f: ,j J Attachment N MHFA Scoring Worksheet t&l : ~-...-, - ...... ",'.. .. '~" :."" .<' ;J~.'~';;' , 32tÞ m-31ff ~~ . , tIiIr r r. .~. ~¡t nm " ·>-~S;t:~ft;~~_:?~~;:X¡t?~:.C~':. :.:: .. ..,...,' ,>".' ...,'.......... ,- ...'..:..::.,..,:;:'......::..',',..,.:...' ~,:. ',< ",:."."' ," .. "', ~'" r r ,. r ,. I'" , I'" , ... .,' MINNESOTA HOUSING FINANCE AGENCY 2006 HOUSING TAX CREDIT PROGRAM SELF-SCORING WORKSHEET FOR SELECTION POINTS Development Name: Address: City: To be elh!.ible for selection considerations ofMHF A administered tax credits from the State's volume can under the MHF A Oualified Allocation Plan. a develoner must demonstrate that the Droiec! is elil;;dble for not less than 30 Doints. Please indicate below the selection and/or preference priority points expected for your development. Where multiple points per section are available please check the appropriate box (C) for points claimed. The MHF A will detennine actual selection points used, based on the application and additional documentation you have submitted to justify the points claimed. (Attach separate details sheet). Please Note: If submitting an electronic version of the application, you must also submit a signed original paper Self.Scoring Worksheet for Selection Points (HTC Form 10) with your application package. The scores reflected on both submissions must be identical. You must also be sure both sheets identically reflect all supporting detail information as called for on the sheets. Only the signed original Self- Scoring Worksheet for Selection Points that accompanies the application will be reviewed and considered as the controlling document. Do not claim points unless documentation is provided along with the application to justify the points claimed. Please Note: Deed Restricted Covenants covering the rent restrictions and occupancy requirements presented at selection will be placed on the building( s) at the time of allocation. I ROUND.... MINIMUM THRESHOLD REQUIREM<;NTS For applications submitted in Round 1 all applicants statewide must meet one of the following threshold types. If you are applying to Round 1, please indicate the Threshold item you meet: "" ~. a. In the Metropolitan Area: 1. D New construction or substantial rehabilitation in which. for the term of the extended use period (term of the Declaration of Land Use Restrictive Covenants). at least 75 percent of the total tax credit units are single room occupancy units which are affordable to households whose income does not exceed 30 percent of the area median income. 2. D New Construction or substantial rehabilitation family housing projects that are not restricted to persons 55 years old or older in which. for the term of the extended use period (term of the Declaration of Land Use Restrictive Covenants), at least 75 percent of the total tax credit units contain two or more bedrooms and at least one·third of the 75 percent contain three or more bedrooms; or r ... III "" "" '. 3. D Substantial rehabilitation projects in neighborhoods targeted by the city for revitalization. b. Outside the Metropolitan Area: 1. D Projects which meet a locally identified housing need and which are in short supply in the local housing market as evidenced by credible data such as local council resolution submitted with the application. (For TIrreshold Letter- Sample Format, see HTC Procedural Manual, Reference Materials Index.) c. Projects that are not restricted to persons of a particular age group and in which, for the term of the extended use period (term of the Declaration of Land Use Restrictive Covenants), a percentage of the units are set aside and rented to persons: 1. 0 2. 0 "" 3. 0 ¡ ... 4. 0 5. 0 with a serious and persistent mental illness as defined in Minnesota Statutes § 245.462, Subdivision 20, paragraph (c); with a developmental disability as defined in United States Code. Title 42, Section 6001, paragraph (5), as amended: who have been assessed as drug dependent persons as defined in Minnesota Statutes § 254A.02, Subdivision 5, and are receiving or will receive care and treatment services provided by an approved treatment program as defined in Minnesota Statutes § 254A.02, Subdivision 2; with a brain injury as defined in Minnesota Statutes § 256B.093, Subdivision 4, paragraph (a); or with permanent physical disabilities that substantially limit major life activities, if at least 50 percent of the units in the project are accessible as provided under Minnesota Rules chapter. 1340; Projects, whether or not restricted to persons of a particular age group, which preserve existing subsidized housing, if the use of tax credits is necessary to (I) prevent conversion to market rate use or (2) to remedy physical deterioration of the project which would result in loss of existing federal subsidies; or I'" d. 0 !"' e. 0 III Projects financed by Rural Development, which meet statewide distribution goals. Minnesota Housing Finance Agency Multifamily Housing Resource Housing Tax Credit Program ")nn,:; c:..II_C:r""''''' \AI"~"',,k..aI- lor15 (HTC Form 10) MHR Form 310 5/2005 r r r 'r r r r r !'" r I"" I'" !'" .. \ !'" !'"' !'"' .. .. Selection Priorities 1. Large Family Housing 10 Points The proposal is for a project that provides famity housing that is not restricted to persons 55 years old or older. At least 75 percent of the total tax credit units must contain two or more bedrooms. The tenant selection plan must give preference to families with minor children. To receive these points, the project must meet HTC Design Standards including the design requirements for Large Family Housing. Compliance must be evidenced by, a Design Standards Certification form executed by the owner and architect. Note: If points are claimed/awarded for this category, then no points may be claimed/awarded from the selection priority categories of Single Room Occupancy Housing or Special Populations. 2. Single Room Occupancy Housing 10 Points At least 50% of the total tax credit units must be one bedroom or less with rents affordable to households whose incomes do not exceed 30 percent of AMI. Scores based on gross rent level including utilities before rental assistance. Eligible units must have rents affordable to households whose incomes do not exceed 30 percent of median income without rental assistance. To receive these points. the project must meet the HTC Design Standards and be evidenced by a Design Standards Certification form executed by the owner and architect. Note: If points are claimed/awarded for this category, then no points may be claimed/awarded from the selection priority categories of Large Family Housing or Special Populations. 3. Strategically Targeted Resources 10 To 12 Points o The proposal is for the rehabilitation of an existing structure Note that for all HTC Rehabilitation proposals: the amount of rehabilitation must exceeds: (a) $5,000 per low-income unit for the project: and the greater of (b) $3,000 qualified basis per low-income unit per building; or (c) 10 percent of the adjusted basis. 10 points A qualified preservation project that receives full points for "Preserved Federally Assisted Low Income Housing" may qualify if rehabilitation exceeds the greater of (b) or (c) above. Calculation is based on rehabilitation hard costs and cannot include intermediary costs or soft costs identified in the application; plans and/or scope of work provided at time of application. o The rehabilitation proposal is part of a community revitalization or stabilization plan. 2 additional points Must be evidenced by a letter trom the city verifying that the proposed project is part of an approved community revitalization area as established by resolution or other legal action. -OR- o The proposal is for new construction and will utilize existing sewer and water lines without substantial extensions. 10 Points To receive these points, the project must meet the HTC Design Standards and be evidenced by a Design Standards Certification form executed by the owner and architect Minnesota Housing Finance Agency Multifamily Housing Resource Housing Tax Credit Program '}nno<:. (:..If~(:r""''''' W"r..."'h....... 20fl5 Developer Claimed - - - MHFA Awarded (HTC Form 10) MHR Form 310 5/2005 r r r I"' r r r r I'" r r ,. I'"' I'"' I'"' I'" r ,. ... ¡ Selection Priorities Dev.løper MHFA ClaImed Awarded 4. Special Populations 3 or 10 Points Projects that are not restricted to persons of a particular age group and in which, for the tenn of the extended use period (Declaration of Land Use Restrictive Covenants), a percentage of the units are set - aside and rented to persons with the following disabilities: (a) a serious and persistent mental illness as defined in Minn. Stat § 245.462, subdivision 20, paragraph (c); (b) a developmental disability as defined in United States Code, Title 42, Section 6001, paragraph (5), as amended; (c) assessed as drug dependent as defined in Minn. Stat § 254A.02, subdivision 5, and are receiving or will receive care and treatment services provided by an approved treatment program as defined in Minn. Stat § 254A.02. Subdivision 2. (d) a brain injury as defined in Minn. Stat. § 256B.093. Subdivision 4, paragraph (a); or (e) pennanent physical disabilities that substantially limit major life activities, if at least 50 percent of the units in the project are accessible as provided under Minnesota Rules, Chapter 1340. D A project in which at least 50 percent of the total units are set aside and rented to such persons: 10 points -OR- D A project in which at least 25 percent of the total units are set aside and rented to such persons 3 points If a proposal sets aside a percentage of units for persons with disabilities, the applicant must contact the human services department for the county where the project will be located to discuss the proposal. The applicant must obtain a letter from the human services department indicating that its staff has reviewed the proposed project, and stating whether there is a need for such housing and if the project would be eligible for funds to assist with the social service needs of the residents. In addition, if the project will be delivering supportive services to residents in these units, the proposal must include documentation describing: the scope of services residents will require, specific services the project will offer, whether the applicant will be responsible for delivery or will partner with identified organizations (and if so the status of those arrangements and partners' credentials), specific sources that will fund the services and their commitment status, and how residents will be connected to the services. To receive these points, the project must meet the HTC Design Standards and be evidenced by a Design Standards Certification fonn executed by the owner and architect. Note: If points are claimed/awarded for this category, then no points may be claimed/awarded from the selection priority categories of Large Family Housing or Single Room Occupancy Housing 5. Economic Integration 2 Points Two (2) Points will be awarded for the election of25-50 percent of units alfordable to households with rents at or below 60 percent of the area median income to the total units (not including full-time manager or model units) in the project: - The corresponding HTC applicable fraction will be based on the number of HTC low income units to total and will be enforced at the time the Canyover Allocation and IRS Fonn 8609 are prepared to determine the maximum tax credit allocation for the project. Minnesota Housing Finance Agency Multifamily Housing Resource Housing Tax Credit Program "}nn.,;. c::...I'_C::rn,.nn \A'nrv"h......t 30f15 (HTC Form 10) MHR Form 310 5/2005 r" f r r r ,. r ,. r ,. r r ,. ,. ... r ... ... ,.. ... ... Selection Priorities D~v~lop~r MHFA Cblinted AWåtded 6. Cooperatively Developed Plan S or 10 Points City comprehensive plans alone do not qualify for the options below. - 0 The proposal is created in accordance with a comprehensive cooperatively developed plan that encompasses housing plus services and/or economic related initiatives. - 10 points Eligible plans include: · Saint Paul _ Ramsey County Five-Year Low Income Housing and Homeless Services Plan; · Minneapolis Hennepin County Homeless Plan or other plans that include housing plus services and/or economic development initiatives -OR- 0 The proposal is created in accordance with a cooperatively developed plan, which incorporates housing initiatives. - 5 points At a minimum, any combination of the above must have the input of the following entities: · City or county (or instrumentality thereol) OR · Regional Unit of Govemment AND one or more of the following: · Neighborhood and/or community group · Housing provider · Funders 7. Project Location S or 10 Points The proposed housing is needed to increase or sustain the supply of affordable housing in counties that experience both job and population growth during the last ten years. - 0 The proposed housing is located in one of the top ten job or population growth ~ 10 points 0 The proposed housing is located in one of the top twenty, but not in the top ten, job or population growth counties - 5 points (See Reference Materials Index - Project Location -for a list of cities) 8. Cost Avoidance I Cost Reduction 1 to 10 Points One or more of the following: (One point for each box checked, with a maximum of 10 points) - 0 Land donation of the development site 0 Monetary/in-kind work and material donations 0 Donation or waiver of development specific assessments or infrastructure costs 0 Density bonus 0 Reduced setbacks 0 Reduced parking requirements 0 Decreased road widths Minnesota Housing Anance Agency Multifamily Housing Resource Housing Tax Credit Program ")nnç. c::..I'_C................ 'Mnr¡,,,h...... 40fl5 (HTC Form 10) MHR Form 310 5/2005 ~ ¡ r ,. , ,. , III f ~ I r' III r III r "" !'" r' "" "" "" "" "" !lie Selection Priorities (Selection Priority 8. continued) o Flexibility in site development standards o Flexibility in zoning code requirements o WAC/SAC reductions o Fast-track permitting and approval o Innovative building techniques or materials Provide specific cost savings amounts and details to justify points claimed Uland donation of the development site, monetary/in·kind work and materials donations, or donation/waiver of development specific assessments or infrastructure costs are claimed for points in this section, it cannot also be claimed in the selection points category of Loca} Contributions. Assistance from the MHF A Super RFP and related Funding Partners Le. Family Housing Fund, Greater Minnesota Housing Fund, Metropolitan Council Local Housing Incentive Account, IS NOT eligible for inclusion in this section To receive these points, documentation of the terms and conditions of a cost avoidance/cost reduction measure must be provided from the contributor of the assistance or authorized local official, at the time of the application. The documentation shall be in the form of a development specific letter of intent, city or council resolution, letter of approval, statement of agreement or eligibility, or memorandum of understanding. If the documentation provided contains words synonymous with "consider" or "may", (as in "may award") regarding the cost avoidance/cost reduction measure, the points will not be awarded. Documentation from an engineer, architect or certified contractor or provider for innovative building techniques or materials must be submitted at the time of application and be reviewed and approved by the Agency to be eligible for the points. The applicant must provide accurate, complete and credible evidence of the amount of cost savings for each cost avoidance/cost reduction measure and record the savings in Section VII E. of the MF Application Form. The value of the donations and in-kind contributions must be consistent with current market comparable costs for land, materials and services 9. Local Contributions Z to 10 Points o The proposal is receiving funds from an area employer. - 4 points. o I The proposal is receiving funds from the local municipality. - 4 points Funds from local municipalities may include, for example: · Tax increment financing · Reservation land not subject to local property taxes · Historic tax credits · Monetary grants · Tax abatement · Land donation of the development site o The proposal receives funds from a private philanthropic group, religious organization, or charitable organization. - 2 points Provide specific details to justify points claimed If land donation of the development site, monetary/in-kind work and material donations, or donation/waiver of development specific assessments or infrastructure costs is claimed for points in this section, it cannot also be claimed in the selection points category of Cost A voidance/Cost Reduction. Minnesota Housing Finance Agency Multifamily Housing Resource Housing Tax Credit Program '1nn¡:;c:..lf_C:...nr;nn l.vn~eh..... 50r15 Developer Claimed ~ - MHFA Awarded ~ (HTC Form 10) MHR Fonn 310 5/2005 r Selection Priorities r I ... (Selection Priority 9. continued) To qualify for points using historic credits and tax abatement, there must be satisfactory documentation that the resource will provide additional positive investment capital to the development that wil1 reduce the demands on the state and federal housing resources. For tax increment financing to qualify for points, there must be satisfactory documentation that the resource is committed to the development at the time of application. r r Documentation of the amount and the terms of assistance must be provided by the provider of the assistance at the time of application in the fonn of a development specific letter of intent. The value of the donations must be consistent with current market comparable costs for materials and services. Within 6 months of the date of selection (MHF A Board selection date) the applicant must provide the MHF A with documentation of a firm commitment, authorization or approval of the local contribution(s). The documentation must state the amount, terms and conditions and be executed or approved at a minimum by the contributor. Documentation containing words synonymous with "consider" or "may", (as in "may award") regarding the contribution, will not be considered acceptable. Lack of acceptable documentation will result in the reevaluation and adjustment of the tax credits or RFP award, up to and including the total recapture of tax credits or RFP funds. r r r 10. Leverage 2 to 10 Points r Points are awarded for leveraging requested state deferred funding with funding from private, federal, local government, religious, philanthropic, or charitable organizations. The formula used to determine the Leverage Ratio Percentage is based upon the cumulative state deferred funding award (including current request) for MHFA RFP funds' divided by Total Development Cost. r *(including past and present MHF A and Funding Partners [i.e. Family Housing Fund, Greater Minnesota Housing Fund, Metropolitan Council Local Housing Incentive Account] awards and current requests) and (excluding First Mortgage, Syndication, HOME, MARlF funds). r Total state RFPlFunding Partner Funds awarded and current request $_ divided by Total Development Cost $_ equals Leverage Ratio _%. r o 0-20%~lOpts o 21-30%~8pts o 31-40%~6pts o 41-50%~4pts o 51-{j0"1o~2pts o 61 and above ~ 0 pts r í: r Documentation of the amount and the terms of assistance must be provided fÌ'om the provider of the assistance at the time of application in the fonn of a development specific letter of intent. Within 6 months of the date of selection (MHFA Board selection date), the applicant must provide the MHFA with documentation of a firm commitment for each funding source. The documentation must state the amount, terms and conditions and be executed or approved by the lender or contributor and the applicant. Documentation containing words synonymous with "consider" or "may", (as in "may award") regarding the commitment will not be considered acceptable. Lack of acceptable documentation will result in the reevaluation and adjustment of the tax credits or RFP award, up to and including the total recapture of tax credits or RFP funds. r r r r r r f Minnesota Housing Finance Agency Multifamily Housing Resource Housing Tax Credit Program '1nn¡:;;c:..lf.c:,.",.¡.... W"....."h...... 60f15 Developer Claimed ~ - MHFA Awarded ~ (HTC Form 10) MHR Form 310 5/2005 r , Selection Priorities r ! 11. Readiness to Proceed 2 to 10 Points r The MHF A shall award points to applicants who have secured funding commitments for funding for one or more funding sources at the time of application (commitments for funding from MHF A and Funding Partners (Le. Family Housing Fund, Greater Minnesota Housing Fund, Metropolitan COWlcil Local Housing Incentive Account) are only included if obtained in a previous funding cycle/round). The documentation must state the amount, tenns and conditions and be executed or approved by the lender or contributor and the applicant. Documentation containing words synonymous with "consider" or "may", (as in "may award") regarding the commitment will not be considered acceptable. (Excludes current funding round requests for Syndication Proceeds and First Mortgage Financing) r í r Total eligible funding secured, awarded or committed $_ Divided by Total Development Cost $_ equals Percentage of Funds Committed _%. r o 60% or more of funding secured, awarded or committed D 30% to 59.9% of funding secured, awarded or committed o 10% to 29.90~ of funding secured, awarded or committed o 9.9% and below offundiOl! secured, awarded or committed 12. Intermediary Costs (Soft Costs) 10 points 6 points 2 point o Doints I to 6 Points r f Points will be given to projects with the lowest intermediary costs on a sliding scale based on percentage of total development costs. For HTC selected projects, this percentage will be enforced at issuance of the IRS Fonn 8609. '(In 2004 Total Mortgageable Costs were in effect) r Intermediary cost amount: $_ divided by Total Development· Costs $_ Equals Intermediary Percentage _ % r D 0.0-15% D 15.1-20% D 20.1-25% D 25.1-30% D 30.1%&over 13. Unacceptable Practices 6 points 3 points 2 points I point o points r -10 to -25 Points r MHF A will impose penalty points for unacceptable practices as identified in Section IV.F. of the Housing Tax Credit Procedural Manual. r 14. Eventual Tenant Ownership I Point r The proposal incorporates a financially viable plan to transfer 100 percent of the HTC unit ownership at [the end of the 15~vear compliance period trom the initial ownership entity (or MHF A approved "Transfer of Ownership") of the project (the Limited Partnership) to tenant ownership. The unit purchase price at time of sale must be affordable to incomes meeting HTC eligibility requirements. To be eligible, the buyer must have an HTC qualifying income at the time of initial occupancy (HTC rental tenant) or time of purchase. The plan must incorporate a Limited Partnership ownership exit strategy and the provision of services including home ownership education and training. The Declaration of Land Use Restrictive Covenants will contain provisions ensuring compliance with these home ownership program commitments by the Limited Partnership Owner. (Refer also to Section V. W. of the liC Procedural Manual for additional information.) r r r f Until the time the HTC units are purchased by a qualified tenant or in the event the HTC units are not acquired by a qualified tenant, the owner will extend the duration of low-income use for the full extended use period (30 years). r The owner therefore, agrees to waive provisions of Section 42(h)(6)(E)(i)(1l) and 42(h)(6)(F) and extends the duration of low-income use ofthe project to a minimum of 30 years. r r f Minnesota Housing Anance Agency MultIfamily HousIng Resource Housing Tax Credit Program .,nn,::; c::..lf.c::.....rI...... W^~"¢h...... 70rIS Developer Claimed MHFA Awarded - - - - (HTC Form 10) MHR Form 310 5/2005 r Selection Priorities r 15. U nderserved Populations 3 to 10 Points r The development serves an underserved population as defined by the Agency as Single Female head of household with minor children, Individuals and Households of Color and one of the following is true: r D Marketing efforts or project design features will be used that will attract underserved popnlations (as defined by the Agency) inclnding collaboratinns and partnerships proposed with members or organizations addressing the needs of under served populations? 3 points OR r D Marketing efforts or project design features will be used that will attract underserved populations (as defined by the Agency) including collaborations and partnerships proposed with members or organizations addressing the needs ofunderserved populations; and the applicant has past successful experiences in marketing to or working with underserved populations? I'" " D I Underserved Population ~ 5 points D 2 Underserved Population ~ 10 points r (NOTE: see selection priority #4 for Disabled Individuals) 16. Temporary Priority 3 Points r The proposal addresses a temporary housing priority and is eligible for the award of points by the Commissioner or the Board of the Minnesota Housing Finance Agency pursuant to authority cited in the Pennanent Rules of the Minnesota Housing Finance Agency. r 17. Preservation of Existing Housing Tax Credit Units 10 Points r , IMPORTANT NOTE: THESE POINTS ARE AVAILABLE ONLY TO EXISTING MHF A TAX CREDIT PROJECTS APPLYING FOR TAX CREDITS FROM MHF A'S COMPETITIVE ALLOCA nON PROCESS (CONSOLIDATED RFP) and QUALIFIED TAX EXEMPT PROJECTS APPLYING FOR A PRELIMINARY DETERMINA nON LEITER FROM MHF A AS THE CREDIT ALLOCATOR r To obtain the related points, the existing tax credit housing must meet the following criteria: r 1. The development received an MHFA allocation of housing tax credits either prior to 1990 or is eligible to and will exercise their option under the provisions of Section 42(h)(6)(E)(i)(1l) and 42(h)(6)(F) within the next 12 months; and r 2. Applicant agrees to maintain the Housing Tax Credit Units in the development for at least 30 years; and r , 3. The proposw will not result in the displacement of existing low and moderate income residents; and r 4. Units must be considered at risk of going to market rents, where the market rents of comparable units exceed the tax credit rent limits by 10 percent and the proposed rents will increase by more than 30 percent within two years of the Housing Tax Credit Application date. The risk of conversion must be supported by information contained in the application and with flnw detenninations made by MHF A; or 5. Tax credit units would no longer remain decent, safe, and affordable due to physical deterioration or deterioration of capacity of current ownership/management entity. r r I"" t r , Minnesota Housing Finance Agency Multifamily Housing Resource Housing Tax Credit Program .,nn..:. c:...lf_c::.....,.¡...... W...~",.,h_ SoflS Developer Claimed - - - MHFA Awarded (HTC Form 10) MHR Form 310 5/2005 r Selection Priorities r 18. Permanent Housing for Individuals Experiencing Long Term Homelessness (5 to 110 Points) r \ MHFA Competitive Round, Non-Tax Exempt Points ("bonus" points) 100 Points MHFA Competitive Round or Tax Exempt Points ("non-BoDus" poiDts) 5 or 10 Points r , þMPORTANT NOTE:I r THE 100 "BONUS" POINTS ARE A V AlLABLE ONLY TO QUALIFIED PERMANENT HOUSING PROJECTS TARGETING INDIVIDUALS EXPERIENCING LONG TERM HOMELESSNESS APPLYING FOR TAX CREDITS FROM MHF A'S COMPETITIVE ALLOCATION PROCESS (CONSOLIDATED RFP) QUALIFIED TAX EXEMPT PROJECTS APPLYING FOR A PRELIMINARY DETERMINATION LEITER FROM MHF A AS THE CREDIT ALLOCATOR WILL BE LIMITED TO A MAXIMUM AWARD OF 10 POINTS (''NON-BONUS'' POINTS) FROM THIS POINT CATEGORY. QUALIFING PROPOSALS MUST CONT AlN A MINIMUM OF 4 UNITS SERVING HOMELESS HOUSEHOLDS. r r r" ¡ r A DfODOsal which is awarded stanDi! ooints ITom this catellorv and is selected to receive tax credits will be reeuired to comDlv with the Lom! Term Homelessness reoortimr reauirements as defined bv the MHFA. The Tax Credit Declaration of Land Use Restrictive Covenants. includine: a soccific Rider to the Declaration. will contain oerformance reauirements related to these Lenir Term Homelessness units and witt be recorded with the orooertv. The 100 points ("bonus points") will be available until a total of$I,452,000· (estimated 25 percent MHF A authority) in tax credits are awarded for qualifYing proposals for Persons Experiencing Long Term Homelessness selected in the 2006 Housing Tax Credit competitions. Once this maximum amount is reached, the 100 points ("bonus" points) will no longer be awarded to qualified proposals for the remaining 2006 Tax Credit Program competitive funding round. Qualified proposals may earn a maximum of 10 points ("non-bonus" points cited below) and may continue to compete in the appropriate set aside. r r r r The MHF A will promote housing for households experiencing long·term homelessness by giving preference points to proposals that meet all the following conditions: r a) sets aside a percentage of housing tax credit units to (minimum 4 units) serve households experiencing long-term homelessness as proposed to be defined in Minnesota Rule, Chapter 4900.3705; r b) addresses an unmet need and fits with the Continuum of Care goals and action steps intended to address homelessness as identified in the Exhibit 1 Plan Housing Gaps Analysis and described in the Continuum of Care Narrative submitted to HUD; r c) provides an acceptable plan for resident support services (Le. information and referral, advocacy, case management, self-reliance training, resident association and community building activities) contingent upon an agreement with an established organization providing such services to residents and financial plans demonstrating feasibility; r ¡ d) provides a service budget which supports the plan; e) provides an executed memorandum of understanding between the owner, lead service provider and property management which outlines the duties and responsibilities of each, and; r , f) the applicant agrees to pursue and continue renewal of rental assistance, operating subsidy, or service funding contracts for as long as the funding is available. r r Minnesota Housing Finance Agency Multifamily Housing Resource Housing Tax CredIt Program ')nn¡:.c:..lf_c:.....rl......IOlI.....Ir"'h_ 90fl5 Developer Claimed - MHFA Awarded (HTC Form 10) MHR Form 310 5/2005 r r , r r r r r r r r t r r r r r r r r r r r Selection Priorities Developer Claimed MHFA Awarded (Selection Priority 18. continued) ~ ~ Additional points ("non-bonus" points) will be awarded to a proposal in which a certain percentage (rounded up to the next full unit) of the total units are set aside and rented to household experiencing long term homelessness: 5% to 10%, but no fewer than 4 units = 5 points. 50 % to 100%, but no fewer than 20 units = 10 points. To receive points under this category, an applicant is required to complete and submit with the application materials, the Narratives, Fanns and Submissions outlined in Part F of the Supportive Housing Section of the Housing Resource Application Guide and Checklist. Materials include, but not limited to, a plan outlining the services to be provided, a budget to support the plan, and such other items as are required by the MHFA for applications serving persons experiencing long-tenn homelessness. The MHF A recognizes that rental assistance, or operating subsidies, and supportive services may be necessary to effectively serve households experiencing Long-tenn homelessness. In the event that necessary rental assistance, operating support or tenant service funding is withdrawn or tenninated due to reasons not attributable to the actions or inactions of the owner and alternative funding is unavailable, the owner may petition MHF ~ in writing, for the tennination or modification of the requirement that the assisted units be occupied by households Experiencing Long- Tenn Homelessness. MHF A will consider the petition and may relax or eliminate the requirement for Supportive Services or may eliminate the requirement that the assisted units be occupied by Households Experiencing Long- Tenn Homelessness. A development that is in full compliance with all the tenns of the funding may be pennitted to phase out the targeting of tax credit units to persons experiencing Long-tenn homelessness and convert the rents to the 50% tax credit rent limit without jeopardizing the tax credit allocation. The 50% tax credit rent limit for these units must be maintained for the remainder of the tax credit compliance period and extended use period to retain the tax credit allocation. 19. High Speed Internet Access 1 Point The development will provide High Speed Internet access via installation of all appropriate cable and connections to every unit in the development. This will be a design requirement if points are taken. PfefetenceP:tiôritìes ºeyelo~er MHFA .... Claimed Awarded .... .. .... 1. Extended Duration (New for 2(06) All nrooosals must maintain the duration of low-income use for a minimum of30 Years. Points are Points are not not To be elieible for selection considerations ofMHF A administered tax credits under the MHF A awarded awarded Oualified Allocation Plan. one of the minimum reauirements is that a oroDosal maintain Section 42 for this for this income and rental restrictions for a oeriod of 30 years belZinnimz with the first day of the comoliance item. item. oeriod in which the buildinlZ is a Dart of a aualified low-income housinlZ Droiect. Points are no IonIZer awarded to nroiects where the owner ae:rees to waive orovisions of Section 42(b)(6)Œ)(i)(II) and 42(h)(6)(f) and extend the duration of low-income use of the nroiect. The owner agrees that the provisions of Section 42(h)(6)(E)(i)(II) and 42(h)(6)(F) (which provision would pennit the owner to tenninate the restrictions under this agreement at the end of the compliance period in the event the MHF A does not present the owner with a qualified contract for the acquisition of the project) do not apply to the project, and that the Section 42 income and rental restrictions shall apply for the period of 30 years beginning with the first day of the compliance period in which the building is a part of a qualified low income housing project. The primary financing proposed must meet MHF A's underwriting standards or demonstrate to the sole satisfaction of the MHF A that the project can remain financially feasible for the entire 30-year duration of low income use. Minnesota Housing Finance Agency Multifamily Housing Resource Housing Tax Credit Program .,,,,,,:. c::...I~_C::..^....^ \A/^~"........t 10 of 15 (HTC Form 10) MHR Fonn 310 5/2005 ._-~ r Preference Priorities 5 to 13 Points r 2. Serves Lowest Income TenantsJRent Reduction r Scores based on gross rent level including utilities before rental assistance. Eligible units must have rents affordable to households whose incomes do not exceed 30 percent or 50 percent of median income without rental assistance. r In addition to the elected income limit of 50 percent or 60 percent AMI for the full tenn of the declaration (refer to the Minimum Set Aside), the applicant agrees to maintain deeper rent structuring for which selection points are requested. r _l!nits Representing -percent of the HTC units will have additional rent restrictions requiring rents affordable to households at 30 percent AMI (Rent Restrictions 30 percent) ~1!nits Representing_percent of the HTC units will have additional rent restrictions requiring rents affordable to households at 50 percent AMI (Rent Restrictions 50 percent) r Applicants may choose either option I or 2, and at your choice, option 3 for the development. This selection will restrict rents only (tenant incomes will not be restricted to the 50 percent or 30 percent income level by claiming points in this section). r ,. ! o Option 1- A project in which 100 percent of the HTC unit rents are at the county 50 percent HUD area median rent limit. (10 points) r o Option 2 - A project in which at least 50 percent of the HTC unit rents are at the county 50 percent HUD area median rent limit. (5 points) OR ,.. \' o Option 3 - In addition to Option I & 2. a project that further restricts 30 percent of the above Restricted units to the county 30 percent HUD area median rent limit. (additional 3 points) r NOTE: If points are claimed I awarded for this category, then no points may be claimed I awarded from the selection priority category of Rental Assistance for the same units. r ~MPORTANT:I r All 50 percent rent restricted units must meet the 50 percent area median rent for a minimum of five years. After the first five year period has expired rent may be increased to the 60 percent rent limit over a three year period with increases not to exceed the amount listed in the table below r All 30 percent rent restricted units must meet the 30 percent area median rent for a minimum of five years. After the first five-year period has expired rent may be increased to the 40 percent rent limit over a three-year period with increases not to exceed the amount listed in the table below. r ~% of SOO/~ Rent Levels 30% of 50% 30% of 53% 30% of57% 30% of 60% 130% of 30o/~ Rent Levels 30% of30% 30% of33% 30% of37% 30% of 40% r Year 1-5 6 7 8 r MHF A will incorporate these restrictions into the project's Declaration of Land Use Restrictive Covenants. The applicant must demonstrate to sole satisfaction of MHF A that the project can achieve these reduced rents and remain a financially feasible project, IRC 42(m)(2). Points are contingent upon financial plans demonstrating feasibility, positive cash flow on a 15-year pro fonna and gaining MHFA management approval (for management, operational expenses, and cash flow assumptions). r r Minnesota Housing Finance Agency Multifamily Housing Resource Housing Tax Credit Program 'Jnn... c;:...lf_C;:r,,~I.... \AI,,~"'rh....~ llof15 Developer Claimed MHFA Awarded - (HTC Form 10) MHR Fonn 310 5/2005 r Preference Priorities r ... ;3. Preservation of Federally Assisted Units (Non-Tax Exempt, MHFA Credit Ceiling, Competitive Round Projects) 10 Points r (Tax Exempt, Non-MHFA Credit Ceiling, Non-competitive Round Projects) 10 Points r ~MPORTANT NOTE: r , TIIESE POINTS ARE AVAILABLE ONLY TO QUALIFYING NON-TAX EXEMPT PROJECTS APPLYING FOR TAX CREDITS FROM MHFA'S COMPETITIVE ALLOCATION PROCESS (CONSOLIDATED RFP) and QUALIFIED TAX EXEMPT PROJECTS APPLYING FOR A PRELIMINARY DETERMINATION LEITER FROM MHF A AS THE CREDIT ALLOCATOR. r r (Provide specific details to justify points claimed) r DEFrNlTION - Any housing receiving project based rental assistance, operating subsidies, or mortgage interest reduction payments. The universe includes public housing. Section 236 and Section 221(d)(3) interest reduction payments, and any development with a project based Section 8, rent supplement, or rental assistance payments contract. r Preserves federally assisted low income housing which, due to mortgage prepayments or expiring rental assistance, would convert to market rate use or due to physical deterioration or deterioration of capacity of current ownership/management entity would lose its federal subsidies. MHF ~ at its sole discretion, must agree that a market exists for a conversion to market rate housing. r In order to obtain the related points, the federally assisted housing must meet the following criteria: r 1 Units must be considered at risk of losing assistance within two years of the Housing Tax Credit Application date as supported by infonnation contained in the application and with final detenninations made by MHF A 2 Applicant must agree to continue renewals of existing project based housing subsidy payment contract for as long as the assistance is available. r 3 Applicant must agree to maintain the Housing Tax Credit Units in the development for at least 30 ears. r Except for "good cause", applicant must not evict existing subsidized residents and must continue tc renew leases for those residents. r 4. QCT/Community Revitalization 1 Point r I\. point is awarded to projects that are located in a Qualified Census Tract (See Qualified Census Tract- Reference Materials Index) and are part of a concerted plan that provides for community revitalization. This must be evidenced by a letter from the city; verifYing that the proposed project is part of an approved community revitalization area as established by resolution or other legal action. ,.. '" I'" r Minnesota Housing Finance Agency Multifamily Housing Resource Housing Tax Credit Program ")nn¡:; c:..f'_c:.....ri...... \Alnw........... 120£15 Developer Claimed - - MHFA Awarded (HTC Form 10) MHR Form 310 5{2005 r Preference Priorities r 5. Rental Assistance 4 to 18 Points r , Priority is given to an owner that has entered into negotiations with a Local Housing Authority to receive Project Based Rental Assistance. The assisted units must be located in buildings on the project site. For the purpose of this section, if a proposal contains existing Project Based Assisted units, these units will be counted towards meeting required Rental Assistance percentages. r Rent for assisted units must be at or below FMRs (or appropriate payment standard for the project area). Receiving these points and agreeing to a minimum number of assisted units does not release owners from their obligations under the Minnesota Human Rights Act and Section 42 prohibiting refusal to lease to the holder of a voucher or certificate of eligibility under Section 8 of the United States Housing Act of 1937 because of the status of the prospective tenant as such a holder. A current request for MHF A HTF Rental Assistance will not receive rental assistance points. A past award or existing HTF Rental Assistance will be counted toward meeting required the Rental Assistance percentages. Indicate the applicable combinations of the below components. Points for A and B cannot be claimed in combination. o (A) For developments agreeing to set aside at least 20 percent of the total units for project based rental assistance - 10 points. D (B) For developments agreeing to set aside at least 10 percent but under 20 percent of the total units for the project based rental assistance - 6 points. o (C) For selected components A or B above, if. in addition, the above commitments are coupled with a commitment from the HRA to provided the project based assistance for a minimum 10 year contract term. - 4 points. D (D) For developments that cooperatively develop a housing plan to provide other rental assistance (e.g. Section 8. portable tenant based. HUD Operating Subsidy or other similar programs approved by the Agency) to meet the existing need as evidenced at application by a letter of intent signed by both the applicant and the local housing authority or other similar entities. - 4 points. r r r , r P'" F !'" , r NOTE: lfpoints are claimed/awarded for this category, then no points may be claimed/awarded from the preference priority categories of Serves Lowest-Income TenantslRent Reduction for the same units. ~ ~ To receive these points. the applicant must comply with all program requirements for the assistance for which priority points were given. including maintaining rents within the appropriate payment standard for the project area in which the project is located for the full compliance and extended use period of the housing tax credits. For proposals claiming points for Project Based Rental Assistance, at the time of application, the applicant must submit a letter of intent signed by the Local Housing Authority. The letter of intent must establish that the Local Housing Authority: 1) is willing to commit the project based assistance to the proposed development; and. 2) will submit an application of RUD project based assistance; or 3) has sufficient project based authority available; or 4) has authority available to convert to project base units. As a condition of Carryover or 8609, whichever occurs first, the applicant must submit a copy ofthe fully executed HUD Approval for the project-based rentslassistance to be included in the development For Project Based Rental Assistance in conjunction with a commitment for an "extended term contract" .by the HRA, in addition to the above HOO application, at time of application the applicant must submit a letter of intent to enter into the "extended tenn contract" for project based assistance for a minimum of 10 years which is signed by the Local Housing Authority. As a condition of Carryover or 8609. whichever occurs first, the applicant must submit a fully executed copy ofa copy of the HRA "extended term contract" for the project-based assistance to be included in the development. r , r I'" !'" po ~ : "" Minnesota Housing Finance Agency Multifamily Housing Resource Housing Tax Credit Program .,n(loO:. c::..lf_c::......~I..... W,,~Lrc:h_~ 13 of 15 ()eveloper Claimed - MHFA Awarded (HTC Form 10) MHR Form 310 5/2005 r r (Preference Priority 5. continued) r r For Other Rental Assistance (e.g., Section 8, portable tenant based, HUD operating subsidy or other similar rent assistance programs approved by the Agency), at time of application the applicant must submit a letter ofiotent to develop a cooperative agreement which is signed by the applicant and Local Housing Authority along, with the completed Agreement to Utilize Public Housing and Section 8 Waiting Lists. As a condition of Carryover or 8609, whichever occurs first, the applicant must submit a fully executed copy ofthe cooperatively developed housing plan. r <. ;r r TOTAL POINTS r r I"" , r I"" , r r !"" III t I"" III "" !"" 140fl5 Minnesota Housing Finance Agency Multifamily Housing Resource Housing Tax Credit Program .,nn,;. c:..lf_C:..,,~..... W"'~"'''''''''M Developer Claimed' Developer Claimed MHFA Awarded MHFA Awarded (HTC Form 10) MHR Form 310 512005 r ,.. t Under Density of oeriurv. Owner hereby certifies the information orovided herein is true and accurate. r r , Name of Owner: r r > By: (Signature) r r Of: (Name of Legal Entity) lIt ¡ , Its: (Title)(Managing General Partner) r r (Print or type name of signatory) r r r Please Note: During the competition process, MHF A' s review of the submitted scoring points worksheet is only to validate that the points claimed are eligible, to reduce points claimed ¡fnot eligible, and to determine points awarded. MHFA witt not award additional points which are not initially claimed by the Applicant/Owner. Many performance obligations are created by the claiming of certain scoring points. As such, MHF A cannot and will not assume the position of creating any such performance obligations on behalf of the Applicant/Owner. Also Note: Applications funded under the Joint Powers Agreement must also comply with the sub-allocators selection criteria defined in their Qualified Allocation Plan. - ¡; r r r r , Minnesota Housing Finance Agency Multifamily Housing Resource Housing Tax Credit Program ')nn.,;.c::..lf_C::,.",.¡.." W"....."'h..... 150fl5 (HTC Form 10) MHR Form 310 5/2005 f f , iF ~ I';! I I, , p .~ , , p IF I 1 , 1 , i, I, i 1. -~] ,:;¡ 11! , p1 J ; ~·GatewayP1aœfÞ A M.&JftIIfIifJ Lifmtø COI'.riN'" Attachment V Sand .' *. .. . IDe. Profile r r' "" , r ~ ~~~ j Sand Companies, Inc. ,. r ,. "" f Construction. Property Management. Dewlopment (320) 202-3100 Waite Park, Minnesota wWH'-SandCompanies.com ,. ,. r' , Company Profile r January 1, 2005 r' "" "" , Office Location: Sand Companies, Inc. 366 South Tenth Avenue Post Office Box 727 Waite Park, Minnesota 56387-0727 Telephone: (320) 202-3100 Facsimile: (320) 202-3139 Website: www.SandCompanies.com E-mail: SCI@SandCompanies.com "" ¡' ,. !"" ... r !'"' ""' SAND COMPANIES, INC. MISSION STATEMENT ..... . III r , 'r Our Mission Statement ',," ~. r" "Satisfying our client's needs by providing the highest quality products and services, by employing a dedicated team of the most talented, qualified professionals in our industry, whose hard work will prevail in every project they accomplish for our clients." r !'" .. , "" t !'"' !'"' r !'"' !'"' "" .. t,~! 2 .. ,', r r r SAND COMPANIES, INC. HISTORY ..... r , I"" Sand Companies, Inc. was established in 1991 by Leo M. Sand, along with an experienced team of innovators with well over 50 years of construction, property management and development knowledge to form one of the finest General Contracting, Property Management and Real Estate Development companies in the Midwest. They specialize in building and developing quality hotels, multifamily residential housing, commercial, retail and office buildings. In July of 1997, Leo M. Sand, Chief Executive Officer, became the sole owner of Sand Companies, Inc. In December of 1997, Sand Companies, Inc. purchased SCS Management, Inc., a full service, hotel management company. To accompany this venture, Sand Companies, Inc. started a rental housing management company in 1998. To better serve its clients and customers, Sand Companies, Inc. hired a staff Architect and CAD Drafter/Operator in October of 2003. The fully integrated process of design/development, construction and property management is completed by Sand Companies, Inc. They have the principle goal of reliable site selection and acquisition. They are responsible for market analysis, site selection, local government approvals, along with locating and arranging financing. Sand Companies, Inc. selects quality, reliable engineers, planners and designers to achieve their goal of customer satisfaction. They provide their own experienced project coordination, on-site supervision and excellent quality controls to complete each project on time and under budget. Sand Companies, Inc. is engaged in constant, extensive research for unsatisfied market areas. When a possible area is located, market trends are studied, feasibility analyses are completed and a complete examination of the competitors is considered. A great amount of time and effort is taken before a decision to move forward with a project is made. Possible projects are carefully analyzed through a series of "checks and balances" while they are presented to the construction, development and management teams. Sand Companies, Inc. has earned a reputation for professionalism, thoroughness and proven results. With the combined talents and skills within their organization, a great amount of pride is taken in each and every project by all company personnel. Their team insures value by careful planning, cost containment, innovative ideas and completing a quality project. They take pride in delivering more than what the contract says. r :,. r ,. ,.. ,.. ,.. r ,.. ,.. ,.. !'"' - !' <g¡ ~,~= 3 !'"' r r r r , SAND COMPANIES, INC. VISION STATEMENT .... r , Our Vision Statement "A team of talented People dedicated to a common goal; to forge ahead, to succeed in building a better place to live and work." r r r r :r , r r r r , Leo M. Sand Chief Executive Officer r' r' r' r t~l 4 r r r r ~ SAND COMPANIES, INC. CORPORATE TEAM ..... r r , Leo M. Sand, Chief Executive Officer 26 years Construction, Property Management & Real Estate Development Experience Minnesota General Contractor's license - 27 years Minnesota Real Estate Broker's license - 18 years Started Sand Companies, Inc. in 1991 E-mail Address:LMSand@SandComoanies.com r ¡ r r r Jamie J. Thelen, President 9 years Real Estate Development & Management Experience 8 years Municipal Government Experience Minnesota Real Estate license - 8 years Joined Sand Companies, Inc.'s Team in 1996 E-mail Address:TTThelen@SandComoanies.com r r r Scott K Bailey, Chief Financial Officer 24 years as a Certified Public Accountant Joined Sand Companies, Inc.'s Team in 2004 E-mail Address:SKBailev@SandComoanies.com r r r" Joyce A. Winter, Corporate Secretary 20 years Accounting & Management Experience Joined Sand Companies, Inc.'s Team in 1993 E-mail Address:lAWinter@SandComoanies.com ,. r I"" r ~~q 5 r r ¡ r r , SAND COMPANIES, INC. MANAGEMENT TEAM .... r ,.. Gene M. Walter, Vice President of Construction Operations 32 years Construction Experience Joined Sand Companies, Inc.'s Team in 1993 E-mail Address:GMWalter@SandComDanies.com I'" ~; !'" , Roger Gertken, Project Superintendent 18 years Construction Experience Joined Sand Companies, Inc.'s Team in 1994 E-mail Address:RWGertken@SandComDanies.com r r r Ted M. lindberg, Senior Project Estimator 22 years Project Management!Estimating Experience Joined Sand Companies, Inc.'s Team in 1995 E-mail Address:TMUndben¡:@SandComDanies.com r r Neil R. Fortier, Vice President of Management 15 years Management Experience Joined Sand Companies, Inc.'s Team in 1997 E-mail Address:NRFortier@SandComDanies.com r I'" , r Jerry L. Burau, Special Projects Manager 30 years Management & Purchasing Experience Joined Sand Companies, Inc.'s Team in 1998 E-mail Address:JLBurau@SandComDanies.com r r r ~ 6 r ~ I f r- 'r SAND COMPANIES, INC. MANAGEMENT TEAM .... 'r- ì r Jim W. Sand, Vice President of DevelopmentjRisk Manager 29 years Property Management & Residential Real Estate Development Experience Minnesota Insurance license - 34 years Minnesota Real Estate Broker's license - 36 years Joined Sand Companies, Inc.'s Team in 1998 E-mail Address:JWSand@SandComuanies.com r r r ,.. , Jean T. Sand, Compliance Manager 18 years Residential Management Experience Housing Credit Certified Professional (HCCP) - 3 years Joined Sand Companies, Inc.'s Team in 1999 E-mail Address:TTSand@SandComuanies.com r ,.. ¡ ,.. Richard A. Hennings, Senior Architect/vp of Construction 36 years Architectural Design & Drafting Experience 10 years Building Experience American Institute of Architects - 28 years Registered Architect in Minnesota, North Dakota, Wisconsin & Idaho Joined Sand Companies, Inc.'s Team in 2003 E-mail Address:RAHenninl!s@SandComuanies.com r c r ,.. ,.. po " !'" t~l 7 r \- r ! r r SAND COMPANIES, INC. BANK REFERENCES ..... r r American National Bank of Minnesota 3210 West Division, PO Box 7749 St. Cloud, MN 56302 Mr. Terry Kurowski Branch President Tel (320) 253-6568 Fax (320) 253-9045 r r Associated Bank 80 South 8th Street, Suite 266 Minneapolis, MN 55402 www.AssociatedBank.com Mr. Erik Schwegler Regional Manager Tel (612) 359-4469 Fax (612) 359-4475 .1'"' ,. Central MN Federal Credit Union 20 South 4th Ave. East Melrose, MN 56352 www.Centralmnfcu.org Mr. Rick Odenthal President Tel (320) 256-4269 Fax (320) 256-7519 r State Bank of Long Lake 1964 West Wayzata Blvd., PO Box 636 Long Lake, MN 55356-0636 www.sblonglake.com Mr. Tom Johnson Vice President Tel (888) 311-3880 Fax (952) 473-0282 r I'"' Home Federal Savings Bank 425 East St. Germain Street, Suite 104 St. Cloud, MN 56304 www.justcallhome.com Mr. Eric Oftedahl Vice President Tel (320) 252-2797 Fax (320) 252-6516 r r Neighborhood National Bank 803 North Nokomis NE, PO Box 129 Alexandria, MN 56308 www.nnbnet.com Mr. Clark Bauldwin President Tel (320) 763-8366 Fax (320) 763-8367 ,. .. MinnWest Bank 4140 2nd Street South, PO Box 7429 St. Cloud, MN 56302-7429 www.minnwestbank.com Mr. Bill Anderson Branch President Tel (320) 253-6300 Fax (320) 253-3134 .. r tæ 8 !"" r I'" ¡ I'" SAND COMPANIES, INC. TRADE REFERENCES ..... r I'" Trimpac, Inc. PO Box 277 St Cloud, MN 56302 www.trimpaconline.com Mr. Mac McCarney Tel (320) 202-3200 Fax (320) 202-3202 I'" r IT Electric Service, Inc. 34658 255th Avenue, PO Box 476 Albany, MN 56307 www.jtelectricservice.com Mr. Terry Oehrlein Tel (320) 845-4789 Fax (320) 845-4920 I'" J-Berd Mechanical Contractors, Inc. 3308 Southway Drive St. Cloud, MN 56301 Mr. Dave Berdan Tel (320) 656-0847 Fax (320) 656-0312 I'" ,.. Cemstone Concrete Solutions 2025 Centre Pointe Boulevard, Suite 300 Mendota Heights, MN 55120-1221 www.cemstone.com Mr. Thor Becken Tel (651) 688-9292 Fax (651) 688-0124 I'" Otto Associates 9 West Division Buffalo, MN 55313 www.ottoassociates.com Mr. Marty Campion Tel (763) 682-4727 Fax (763) 682-3522 ,.. I'" Apollo Insurance Agency 28 IlthAvenue South St. Cloud, MN 56301 www.apolloinsurance.com Mr. John Delinsky Tel (320) 253-1122 Fax (320) 253-9969 ,.. AI's Ornamental Iron & Welding, Inc. 304 31st Avenue South Waite Park, MN 56387 Mr. AI Haus Tel (320) 656-8851 Fax (320) 656-8860 I'" '"' , AH Bennett Company 1020 Lincoln Avenue Sauk Rapids, MN 56379 www.ahbermett.com Ms. Dawn Koskinen Tel (800) 216-4831 Fax (320) 255-1787 '"' Molin Concrete Products 415 Wac Street Lino Lakes, MN 55014 www.rnolin.com Mr. Dan Molin Tel (800) 336-6546 Fax (651) 786-0229 !'" tgl 9 po- ;;¡ r ,.. ! ,.. t SAND COMPANIES, INC. CUENT REFERENCES ..... !'" f po f, Gorham Housing Partners 841 East Forest Avenue Mora, MN 55051 Mr. Pat Gorham Tel (320) 679-1632 Fax (320) 679-5574 ,.. Midwest Housing Group, LLC 12315 Heather Avenue North Hugo, Minnesota 55308-8318 Mr. John Belisle Tel (651) 429-2445 Fax (253) 295-2240 ,. , r St. Cloud Housing limited Partnership 609 Ninth Street North Sartell, MN 56377 Mr. Stan Weinberger Tel (320) 252-4414 Fax (320) 252-4482 r Birchaven Village 1633 DeltonAvenue Bemidji, MN 56601 Mr. Jim Birchem Tel (218) 444-1709 Fax (218) 444-1744 ,.. Central MN Federal Credit Union 20 South 4th Ave. East Melrose, MN 56352 Mr. Bob Swanberg Tel (320) 685-7771 Fax (320) 685-7580 Mr. Rick Odenthal Tel (320) 256-4269 Fax (320) 256-7519 Mr. Bob Wikan Tel (320) 845-2195 r Stearns County HRA 312 1st Street North Cold Spring, MN 56320 ,. r Mother of Mercy Nursing Home 230 Church Avenue Albany, MN 56307 !'" WML Services Corporation 2101 South Blackhawk Street, Suite 100 Aurora, CO 80014 Mr. Earl Wing Tel (303) 564-4685 !'" Hagemeister & Mack Architects, Inc. 501 West St. Germain, Suite 200 St. Cloud, MN 56301-3605 Mr. Murray Mack Tel (320) 251-9155 Fax (320) 251-4919 ,.. II' ~' Pope Associates 1255 Energy Park Drive St. Paul, MN 55108-5118 Mr. Skip Sorenson Tel (651) 642-9200 Fax (651) 642-1101 ,.. t.m 10 r- ... . ,. r' SAND COMPANIES, INC. CITY REFERENCES ... r ,. City of Albany PO Box 370 Albany, MN 56307 Mr. Tom Schneider (320) 845-4244 ,. City of Rogers 12913 Main Street Rogers, MN 55374 Mr. Gary Eitel (763) 428-2253 ,.. r' City of Chaska One City Hall Plaza Chaska, MN 55318 Mr. Dave Pokorney (952) 448-2851 !'" City of Bloomington 1800 West Old Shakopee Road Bloomington, MN 55431 Mr. Bob Hawbaker (952) 563-8922 r City of Mankato PO Box 3368 Mankato, MN 56002 Mr. Brad Potter (507) 387-8600 !'" City of Maple Grove PO Box 1180 Maple Grove, MN 55311 Mr. Alan Madsen (763) 494-6009 ,. ,. City of Plymouth 3400 Plymouth Blvd. Plymouth, MN 55447 Ms. Marie Darling (763) 509-5457 '" City of Blaine 10801 Town Sq. Dr. Blaine, MN 55449 Mr. Bryan Schafer (763) 785-6144 ,. City of Inver Grove Heights 8150 Barbara Avenue Inver Grove Heights, MN 55077 Mr. Bill Turnblad (651) 450-2553 ,. ,.. . ,.. ~I '=c~J!:. 11 r-' r ,.. f r' SAND COMPANIES, INC. LICENSE NUMBERS ...... ,. r MN Building Contractors License: MN Real Estate Company License: BC-20061296 RC-20144987 r r PROFESSIONAL AFFILIATIONS ...... r Associated Builders and Contractors, Inc. American Institute of Architects Minnesota Multi-Housing Association St. Cloud Area Chamber of Commerce Minnesota Safety Council Society of Human Resource Management r r - ~ ACCOUNTANT & LEGAL COUNSELS ...... ,.. ¡ ,. , ScWenner Wenner & Company 37 North 28th Avenue, PO Box 1496 St. Cloud, MN 56302-1496 www.swcocpas.com Mr. Robert Hengel (320) 251-0286 ,.. Gray, Plant Mooty 1010 West St. Germain, Suite 600 St. Cloud, MN 56301 www.gpmlaw.com Mr. Peter Fuchsteiner (320) 252-4414 ,.. ,.. Rajkowski, Hansmeier, Ltd. 11 - 7th Avenue North St. Cloud, MN 56303 www.RajHan.com Mr. Fred Grunke (320) 251-1055 I'"' ,. I t.~l 12 ,.. \ SAND COMPANIES, INC. CONSTRUCTION & DEVELOPMENT PROJECT LIST ...... !"" , r ,.. , ,.. r 1990 Park Place Estates 84 Units Luxury Apartments St. Cloud, Minnesota r 1990 Speedy Print St. Cloud, Minnesota r 1991 Skip Sorensen Residence Monticello, Minnesota ,.. , r 1992 Park Place Estates II 92 Units Luxury Apartments St. Cloud, Minnesota ,.. 1994 7th Street Townhomes 15 Units Rental Townhornes Monticello, Minnesota r 1994 Country Inn 46 Guest Rooms Baxter,Minnesota !" ,. 1994 Regency Park Estates 145 Units Luxury Apartments St. Cloud, Minnesota r 1995 Country Inn 60 Guest Rooms Woodland Park, Colorado r 1995 Lakeville Court Apartments 52 Units Rental Apts/Townhomes Lakeville, Minnesota ,. 1996 Countryside Townhomes 12 Units Rental Townhornes Albany, Minnesota ,. ,. 1996 Country Inn & Suites 46 Guest Rooms Detroit Lakes, Minnesota 1996 Albany Cottages - Phase I 4 Units Rental Patio Homes Albany, Minnesota 1997 Country Inn & Suites 22 Guest Room Addition Baxter, Minnesota 1997 Huski Townhomes 32 Units Rental Townhornes Hutchinson, Minnesota 1997 Mercy Manor 41 Units HUD 202 Housing Albany, Minnesota 1997 Country Inn & Suites 63 Guest Rooms Shakopee,Minnesota 1997 Country Inn & Suites 46 Guest Rooms Walker, Minnesota 1998 Albany Cottages - Phase II 8 Units Rental Patio Homes Albany,Minnesota 1998 Park Forest Estates 55 Units Senior Apartments Mora, Minnesota 1998 Country Inn & Suites 48 Guest Rooms Albany, Minnesota j~l 13 r SAND COMPANIES, INC. CONSTRUCTION & DEVELOPMENT PROJECT LIST ..... r r r r r 1999 Country Inn & Suites 78 Guest Rooms & Conf. Center Mankato, Minnesota r 1998 TGl Friday's Restaurant 297 Seats Mankato, Minnesota r 1998 Woodland Townhomes 30 Units Rental Townhomes Mahtomedi, Minnesota r r 1999 Country Inn & Suites 79 Guest Rooms Elk River, Minnesota r 1999 Microtel Inn & Suites 82 Guest Rooms Fargo, North Dakota r 1999 Sterling Twinhomes 34 Units For Sale Twinhomes Mahtornedi, Minnesota III , I"" 1999 Brickstone Townhomes 30 Units Rental Townhomes Chaska, Minnesota III 1999 Brickstone Estates 53 Units Apartments w/Retail Chaska, Minnesota r 1999 Elm Crèek Twinhomes 14 Units For Sale Twinhornes Maple Grove, Mirmesota ,. 1999 Park Place Phase I Community RID & Elevator Add St. Cloud, Minnesota !'" "" 2000 The Creeks 24 Units Rental Townhomes St. Cloud, Minnesota 2000 Boulder Ridge Townhomes 30 Units Rental Townhornes Shakopee, Minnesota 2000 Memory Lane Alzheimer Facility Albany,Minnesota 2000 School Square Apartments 17 Units AptsfTownhornes Albany, Minnesota 2000 Birchaven Village Apartments 42 Units Sr Congregate Housing Bemidji, Minnesota 2001 Lake Side Townhomes 36 Units Rental Townhomes Woodbury, Minnesota 2001 Country Place Apartments 16 Units Senior Housing Pierz, Minnesota 2001 Eagle Court Apartments 13 Units Senior Housing Randall, Minnesota 2001 The Preserve at Commerce 192 Units Luxury Apartments Rogers,Minnesota 2001 Lyndale Avenue Townhomes 23 Units Rental Townhomes Bloomington, Minnesota ~ 14 I"" SAND COMPANIES, INC. CONSTRUCTION & DEVELOPMENT PROJECT LIST ..... r r r r r 2001 Heading 4 Home Twinhomes 2003 Country Inn & Suites 20 Units Rental Twinhomes 23 Guest Room Addition Scattered Sites in Stearns County Conference Center Expansion ~arùkato, ~esota ,. , 2001 Oak Grove Townhomes 30 Units Rental Townhornes St. Cloud, ~esota r r 2001 Shadow Hills Estates 322 Units Luxury Apartments Plymouth,~esota r 2002 Heritage Park Estates 150 Units Luxury Apartments St. Cloud, ~esota r 2002 North Pointe Townhomes 18 Units Rental Townhornes Blaine, ~innesota r 2002 East Ridge Court 18 Units Senior Housing Renville,~esota .. L ,. 2002 Southview Estates 47 Units Apartments Bloomington, Minnesota ,. 2003 Boulder Ridge Townhomes 11 22 Units Rental Townhomes Shakopee,~esota .. ,. 2003 Country Inn & Suites 193 Guest Rooms Denver (Airport), Colorado r 2003 American National Bank Expansion & Renovation St. Cloud, ~esota I'" ,. 2003 Monument Ridge Estates 135 Units Luxury Apartments Inver Grove Heights, Minnesota 2004 Central ~N Federal Credit Union Office Building Renovation St. Joseph, ~esota 2004 ~ain Street Apartments Demo Environmental/Dernolition Albany, Minnesota 2004 Heritage Place 75 Units Senior Apartments Rogers, ~esota 2004 Country Inn & Suites - East 67 Guest Rooms St. Cloud, Minnesota 2004 ~ercy Manor Remodel Senior Assisted living Conversion Albany, Minnesota 2004 Residential Land Development 21 acres of ~ulti & Single Family St. Joseph, ~esota 2004 Pullman Place 65 Unit Senior Cooperative Elk River, ~esota 2005 Morningside Townhomes 32 Units Rental Townhomes St. Joseph, ~esota ~~ 15 ,. SAND COMPANIES, INC. CONSTRUCTION & DEVELOPMENT PROJECT LIST ...... r ,. , i r ¡ r r 2005 Mercy Manor II 26 Units HUD 202 Housing Albany,Nlinnesota r 2005 Chanhassen Gateway Development 20 Acres Commercial & Residential Chanhassen, Minnesota ,. , 2005 Park Meadows Addition 20 Single Family Lots Hutchinson, Minnesota r ¡ r 2005 Albany Golf Vistas Addition 30 Single Family Lots AJbany,Minnesota r r r r , r ,.. [- r ,.. ,.. t~ 16 r' SAND COMPANIES, INC. HOSPITAliTY MANAGEMENT CONTRACTS ..... r \' r I'"' r r Country Inn & Suites By Carlson© 1900 Premier Drive Mankato, Minnesota 56001 (507) 388-8555 .:. 100 Guest Rooms .:. 500 Person Conference Center .:. Attached TGI Friday's Restaurant r' ~: r' I'"' ! Country Inn & Suites By Carlson© 18894 Dodge Street Northwest Elk River, Minnesota 55330 (763) 241-6990 (. 79 Guest Rooms .:. Meeting Rooms ,.. ; ,.. Country Inn & Suites By Carlson© 4343 Airport Way Denver, Colorado 80239 (303) 375-1105 .:. 193 Guest Rooms .:. Meeting Rooms ,.. I"" I'"' Country Inn & Suites By Carlson© 5353 North 27" Street Uncoln, Nebraska 68521 (402) 476-5353 .:. 95 Guest Rooms .:. 350 Person Conference Center .) Attached Beacon Hills Restaurant ~ ... ; Beacon Hills Restaurant 5353 North 27'" Street lincoln, Nebraska 68521 (402) 476-5300 ... ,.. r r ~~l Country Inn & Suites By Carlson© 2760 South Ninth Street Salina, Kansas 67401 (785) 827-1271 .:. 72 Guest Rooms .:. Meeting Rooms Country Inn & Suites By Carlson© 1207'" Avenue Southeast St. Cloud, Minnesota 56304 (320) 252-8282 .:. 67 Guest Rooms .:. Meeting Rooms 17 SAND COMPANIES, INC. RESIDENTIAL HOUSING MANAGEMENT CONTRACTS ..... r r r r' r !'" Townsite Apartments 16 Units Apartments Albany, Minnesota Asset Management ""' ~. Parkview Apartments 24 Units Apartments Avon, Minnesota Asset Management r' ""' , Lakeville Court Apartments 52 Units Apts/Townhomes Lakeville,Minnesota r' , Countryside Townhomes 12 Units Rental Townhomes Albany, Minnesota !'" !'" Woodland Townhomes 30 Units Rental Townhomes Mahtomedi,Minnesota r' Albany Cottages 12 Units Rental Townhomes Albany, Minnesota - ~; - t Huski Townhomes 32 Units Rental Townhomes Hutchrnnson,~Ill1esota - Brickstone Townhomes 30 Units Rental Townhomes Chaska, Minnesota !'" Boulder Ridge Townhomes 30 Units Rental Townhomes Shakopee, Minnesota r' ... School Square Apartments 12 Units Apartments 5 Rental Townhomes Albany, Minnesota The Preserve at Commerce 192 Units Luxury Apartments Rogers, Minnesota Shadow Hills Estates 322 Units Luxury Apartments Plymouth, Minnesota North Pointe Townhomes 18 Units Rental Townhomes Blaine, Minnesota Southview Estates 47 Units Apartments Bloomington, Minnesota Boulder Ridge Townhomes Phase II 22 Units Rental Townhomes Shakopee, Minnesota Monument Ridge Estates 135 Units Luxury Apartments Inver Grove Heights, Minnesota Lyndale Avenue Townhomes 23 Units Rental Townhomes Bloomington, Minnesota Heritage Place 75 Units Senior Rental Apartments Rogers,Minnesota t.~l 18 ... r .1' r , r SAND COMPANIES, INC. RESIDENTIAL HOUSING MANAGEMENT CONTRACTS ...... r ,.. !' Morningside Townhomes 32 Units Rental Townhomes St.Joseph,~esota r r ,.. , .. , r IIO lIe , lIe ,.. ,.. "" ,.. lIe . . t~ 19 -