2 Julius Smith presentation
MEMORANDUM
TO: Todd Gerhardt, City Manager
FROM: Justin Miller, Assistant City Manager
Kate Aanenson, Community Development Director
DATE: February 3, 2006
RE: Presentation of Local Housing Incentive Grant from Julius Smith,
Metropolitan Council
BACKGROUND
Julius Smith, Chanhassen’s representative on the Metropolitan Council, will be
present at Monday’s meeting to present the City with a $300,000 grant award for
the proposed Gateway Place affordable housing apartment project. The Sand
Companies, the developer of this project, applied for these tax credits through the
Minnesota Housing Finance Agency. The money is awarded to the city, but we
are simply a pass-through as the money will be granted to the developer at the
time of project completion.
RECOMMENDATION
Staff recommends that the City Council approve the acceptance of the Local
Housing Incentive Grant in the amount of $300,000 from the Metropolitan
Council for the Gateway Place apartment project.
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