CC Memo 6-1-05 Sand Companies Tax Credit Application Discussion
CITY OF
CHANHASSEN
7700 Market Boulevard
PO Box 147
Chanhassen, M N 55317
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: 952.227.1110
Park & Recreation
Phone 952.227.1120
Fax: 952.227.1110
Recreation Center
2310 Coulter Boulevard
Phone 952.227.1400
Fax: 952.227.1404
Planning &
Natural Resources
Phone: 952.227.1130
Fax: 952.227.1110
Public Works
1591 Park Road
Phone 952.227.1300
Fax: 952.227.1310
Senior Center
Phone: 952.227.1125
Fax 952.227.1110
Web Site
www.ci.chanhassen.mn.us
13
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MEMORANDUM
TO:
Todd Gerhardt, City Manager
FROM:
Justin Miller, Assistant City ManagerJAI\.
June 1, 2005 ~
Sand Companies Tax Credit Application Discussion
DATE:
RE:
BACKGROUND
The Sand Companies have acquired the property at the northwest comer of new
Highway 212 and the relocated Highway 101. Within their entire development,
which is proposed to include 150 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
ih, with an anticipated City Council date of June 2ih. The tax credit application
is due on June 28th, 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 of Chanhassen . A growing community with clean lakes, quality schools, a charming downtown, thriving businesses, winding trails, and beautiful parks. A great place to live, work, and play
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.
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Development Plans:
Gateway Place
Chanhassen, Minnesota
A Multifa111il~ Living Commul1it~
Prepared for:
ChanhasSel1. City Council
Prepared by:
Sand Companies, Inc.
366 South Tenth Avenue
PO Box 727
Waite Park, Minnesota 56387-0727
Telephone (320) 202-3100
Facsimile (320) 202-3139
VVW\J\T. Sand C o111panies. COlll
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Sand Companies, Inc.
Conslruo.:OOa.P~~M"n;lgaw:nI.~l
(320) 202-3100
lVaile Park, Minnesota
www.SalldCompall;es.com
June 1,2005
I
TABLE OF CONTENTS
Executive Summary
Project Developer/ Architect/Contractor!Manger
Development Location
Development Site
Building Description
Unit Mix, Rents & Income Restrictions
Property Management
The Need for Ufe Cyde 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
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Sand Companies, Inc.
('~......w..Prupcrt,~.~~
(320) 202-3100
Waite Park, Mintlesota
www.sa..dCompa1lies.com
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 II
Attachment III
Attachment IV
Attachment V
. Gateway Place .
A Multifamil;9 Livil1fj Communit;9
Executive Summary
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 comer 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.
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.
Project Developer / Architect/ Contractor /Manager
Since 1991, Sand Companies, Inc. has earned its reputation for professionalism,
thoroughness 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.
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)
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Salld Compallies, llle.
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(320) 202-3100
Waite Park, Mill/lesota
www.SattdCompall;es.conl
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
Future Residential & Commercial
Future SW Metro Transit Station
Site w/Highways 101 &212
t:i~l
Gateway Place Development Plans
2
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 I)
Development Site
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.
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.
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.
t{i~!'
Gateway Place Development Plans
3
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)
Building Elevation
Common Amenities:
. Underground, Heated Parking
. Resident Storage
. Leasing/Manager'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
Floor Plans
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Gateway Place Development Plans
4
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.
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:
Unit Mix, Rents & Income Limits
# of Units
6
27
15
# ofBR's
1
2
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
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Table Notes:
1. 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 of four
8. Annual & hourly income restrictions for a three bedroom unit is based on a household of five
Property. Managemen t
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.
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.
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.
t:i~l
Gateway Place Development Plans
5
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
Program 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.
1. 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 Crime/Drug 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.
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.
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.
~fi~l
Gateway Place Development Pl<ms
6
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 ($12.50/hr.), $33,000 ($15.87/hr.) for a two
bedroom unit and $36,000 ($17.31/hr.) 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 (MHF A) 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.
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 MHF A. 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 MHF A 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.
ttirl
Gateway Place Devc10pment Plans
7
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)
Below are a list of participation methods and options we ask the City to consider
for Gateway Place. Weare 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.
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
Red.uce 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
$ ???
Participation Method
Tax Increment Financing
Waiver of Assessments
Density Bonuses
Reduce Setbacks
Parking Requirements
Decrease Road Widths
Flexibility in Standards
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 MHF A, 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)
t~91
Gatcway Placc Dcvelopmcnt Plans
8
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 multifamily housing concept appears to be timely and feasible.
We have targeted June 1, 2007 as the opening date.
To meet these target dates, the following critical path of events is necessary:
1. 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.
June 2005
June 28, 2005
October 2005
January 2006
April 2006
July 2006
July 2006
April 2007
June 2007
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 from 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.
Thank you for your consideration!
tfi~l
Gateway Place Dcvelopmcnt Plans
9
. Gateway Place .
I
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A Multifamil;9 Livil1~ Commul1it;9
I I
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Attachtnent I
Prelitninary Developtnent Plans
.....
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Sand Companies, Inc.
Coo.m.ctm. Propaiy Management. ~
(320) 202-3100
Waite Park, Minnesota
www.SandCompanies.com
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. Gateway Place .
.......,......--~
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A Multifamil~ Living Communit~
Attaclunent II
Required City Support Letter
.....
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.......
....
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Sand Companies, Inc.
0lrntrucUlIl. Prop<rty Manag<mfl1l. Dc\dopmm1
(320) 202-3100
Waite Park, Minnesota
www.SandCompanies.com
(City of Chanhassen Letterhead)
June _' 2005
Minnesota Housing Finance Agency
400 Sibley Street, Suite 300
St. Paul, Minnesota 55101
Attention: Multifamily Underwriting
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.
(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.
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
.. Gateway Place .
~....,..
A Multifamil~ Livil1@ Commul1it~
,
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Attaclunent III
City Reference Letters
.....
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Sand Companies, Inc.
CooslrucIion. Prop<rty ~Ianag<mfnt. o...Iopmen.
(320) 202-3100
Waite Park, Minnesota
www.SatldCompatlies.com
C it y
of Arl
.
ngton
I
Councilmember Noack introduced the following resolution and moved for its adoption:
RESOLUTION NO. 11-2004
RESOLUTION PLEDGING TIF SUPPORT THE FAIRVIEW TOWNHOME PROJECT
WHEREAS, The Arlington City Council has reviewed and endorses the housing development proposal
called Fairview Townhomes, 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 neeis and that the p~opose~ housing is in sport supply in the local housing market. This need
is ev~denced by tli~ gap between the"\ocal suppl~ and demand for the pr9posed type of,ho,Ysing;, ',~
/ /' ! } l \,1 ( . ''''\ '\
BE IT RESOEV~D, that the City of Atlingto~lier~bYBr?P9SeS 10ca1.financial assistance fo}this \
( proj~,c~/as part ofthis e~dorsement throu~htl~~ ~se -of tax Inc.r.elllent ~fin.ance (TIF). The ArlingtoI1'!?ity
I CouncIl has approved uR-f~dnt TIF Revenue\~ote at 90% for 25yearsm the ~oupt of$107,000.
> Based on preliminary ,tax figures, the approximate value of ther assistance over the'life of the TIF is
( \! '
\ $'463,551. The City Cc;mncil and ,PJanh"ip, ,g C?n:mi~~i~~ ~ave a,ls, 0 revi~wed the development plans for ,I <
h F.. T wnh ~ d '11' \ "d'lI '}in,! .'\lfl,L-b(l"lil.llra!lIII'lllll ./d d h
,t e alrvlew 0 omes'an WI consl er s owmg eXI I Ity m eve opment stan ar s suc as
( reduced set-backs, densitylbonuses arld\fast1trackpern1ittingjalld apRrovals. (
, ,., '\ I'" l:'lll 'I 1\.., } t' II It T , t \, 'I" II J '. ,
\> \. '\.>, . "t l, , \ 7' . ' ./ ":'- \>. , / F
!, The motion f9i:~e 8'poptio~ oflth~-tb'regoing resolution was duly secomied PyjCouricilmefu\Jer Vrklan
'an~ u~on poll b~~~~t~'e~,t?e{epn t~e ~ollowin~~9ted in favoftherfof: ?r1ep\ N?~ck0eetz, ~ oig~t: '
Vrklan; and the follo~mg voted'agal;Ist the same:"'None; 81,14 the f91~Qwmg abstamed from votmg:- i
None; ~d~efollO~i~g were ~~set::~~lone:." I_/, rydt\ i. _ i ;' , l J
. ,/ . ~ 11. .11 \Jl ~~ ~th~ I r:A;)~,___J \ / '"
Adopted by the City Soune!l r;\J~rrlrrR~;6Ilq)~f~~rT4. .~,
I :. ..m.. ..Signed: ~ SL3~
I · Mayor
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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.
204 Shamrock Drive · Arlington, MN 55307
507/964-2378 · Fax: 507/964-5973 · E-mail: arling@frontiemet.net
C it y
of Arl
I
.
ngton
July 20, 2004
Minnesota Housing Finance Agency
400 Sibley Street, Suite 300
8t. Paul, Minnesota 55101-1998
i
\
RE: Fairview Townhomes.
Arliggton, Milll1esota,
~ '\
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I?~ar Multifamily Development: \', ...\ \< \',:i, ~ ~ .' \. i. .f .. '\
( Jh~/City of Allington is committed tkpi~~Jditg'\~()rl<'{fQi6~ho~sing to the city, which offers, a
/wide range of housi~g 9PPorturiifies for~1is resid~nts. Thflity has'coop~rat}vely developed "a
\\ plan with the Developer ofthe,Fai~i~w Townhoimes to p~ovide this ~eeded liblis,ng in the city.
. Th . 1 '" 1 fi /\ (1 jdu CJrl(II"",'u..h,(.11 ( /olllnlllOlIIJ f '/;1 t Th
e CIty proposes oca manCla assIstance lor t IS prOject as part 0 ItS enuorsemen. e
Arlington Cit~~o~cii has apprqX~i~itt(tFflHSf:~Wt\l:tlVP~jq~ih?us~ng distfi~t fo~ th~ project.
'[ ~ased on p~~~Im~n\ITY t~x figvr~~)he. approXImate value of the ass.IS}'rce .ov~r)lie Yfe of the
. mcremenLP~lOd ;for the. development IS $263,551. The up-front aSsIstarc~ m\}h~ form pf a TIF
\'.,_Revenue Not(;,in the, a~t0t of $J07;OOO(:'19r-the'development wilrillcl}lde sosts for land
acq~isition, publlG. impfove'ment~'and adminl~ration ;,c9sts f~r"s_etting tip the/tax incremen:t~-
disthct;..., \ I -- ''''-;;J ,i ~ A 'I i / ' . 1,..- I
Lan~D~~ation of'ie Deve\;:;,~Jfil .~~ (~~ii~tt)lnanCe,~'ecitiis 'wil(~g
to purchase the siteland d01ate!^~~t:h~1e~,? I () N; .
Waiver of Development A~s~~~~~~t~.h As part of the tax increment findnce, the city is willing to
waive the public irrtproven).ent assessments for the development. i
Density Bonuses. I The site of the Fairview Townhomes is an R-1 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 ofthe property to R-3. These density bonuses allowed more units
on the property thus reducing the per unit land and improvement costs.
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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'
204 Shamrock Drive · Arlington, MN 55307
507/964-2378 · Fax: 507/964-5973 · E-mail: arling@frontiemet.net
Minnesota Housing Finance Agency
July 20, 2004
Page 2
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.
Flexibility of Development 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.
Fast-track Permitting & Approval. 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.
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,
~~~/
David Czech
Mayor
R E C E1VEO JUL 2 1 2004
"
C it y
of Arlington
July 19,2004
,/ " -'-
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ry{i~~sota fIoti~ing Finance Age~~y
400 Sibley~Street, Suite 300
( ( //~j. Paul, Minnesota>\51J.1 ~ 1998,/
'; ! RE: Fairview Townhomes
\ '" Arlington, Mi4nesota i\ (""~ I I '\ I (" 'I
. "-, /'IIIJ unci C<Il!'U,PlllllHIiH IJ
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Dear Multifami~ D~veloprnent: I,,)isi IIC} 1~)('jCtl WI' III t!nitll
" ',' f \ \ 1" /
The Arlingt~ ci~;{c~Ul1cilj adts/~eeting hel.d on July 6, 2004, has revi~w~d an~'(e?dof~ed the
"',l1ousing develi?}){llerit'}Jropbs:ed for t};le Fairvit.~roWnhomes, which proposes/~en!y,toWnhomes
wi~~in the Ci,iY of\~lirigton,:''-Thi~Je'ndorsemlf1?is based~l!pon t~~fil).dings that th{ project will/ ~
me~~.IocaUi identified housing i~q~,and that the roposediho~~in) is in; short ~upply in tht::Joyal !
hous1ng-market." / /. :"<~,H"l i r'1,: rh=\,~ \, _ i .. '
'~': "" - ll~~ ,j"!
The City council's/endorse;~n^i;'t",i~~,'~~~dr\ty.hfe;;'a;;Ifr~[.i~,~R;(~1htion No. ~'1~;004, a
::::e::I~hiCh is lChed tthlsJM~ UI-. I '-"7 . ,j I i
cl .c I;;
A:Jof.X/' Cd ~"')
David Czech
Mayor
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204 Shamrock Drive · Arlington, MN 55307
507/964-2378 · Fax: 507/964-5973 · E-mail: arling@frontiernet.net
Administrator
Judy Weyrens
Mayor
Larry J. Hosch
Councilors
AI Rassier
Ross Rieke
Gary Utsch
Dale Wick
www.cityofstjoseph.com
CITY OF ST. JOSEPH
July 19,2004
Minnesota Housing Finance Agency
400 Sibley Street, Suite 300
St. Paul MN 55101-1998
Re:
Momingside Townhomes
St. Joseph, 11ll1nesota
Dear 11ultifamily Development:
The St. Joseph City Council on July 15, 2004 endorsed the housing development proposed
by Sand Companies entitled 110mingside Townhomes. The proposed development includes
thirty-two Townhomes within the City of St. Joseph. This endorsement is based upon the
findings 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 from the design standards of the newly
revised St. Joseph Code of Ordinances if the project were not needed.
Sincerely,
CITY OF ST. JOSEPH
~--J,
Larry Hosch
Mayor
2.) College Avenue North, PO 130x 668' Sdint. joseph, Minnesota )6)74
P h 0 n e ., 2. 0 . ., 6 ., . 7 2. 0 I IOd X ., 2. 0 . ., 6 ., . 0 ., 4 2.
www.cityofstjoseph.com
CITY OF ST. JOSEPH
July 19,2004
Administrator
Judy Weyrens
Minnesota Housing Finance Agency
400 Sibley Street, Suite 300
St. Paul MN 55101-1998
Mayor
Ldrry J. Hosch
RE: Morningside Townhomes
St. Joseph, Minnesota
Dear Multifamily Development:
Councilors
AI Rassier
Ross Rieke
Gary Utsch
Dale Wick
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 of2004 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 earning 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
Townhomes) 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 financially, so are cities. St. Joseph is committed to the provision
of Affordable Housing, and offers the following in support of the Morningside Townhomes:
2.)" College Avenue North' PO 130x 66s' Saint. Joseph. Minnesota )"6,74
Ph 0 n e ,2.0 . ,6, . 72.0 I I:d x ,2.0 . ,6, . 0 , 4 2.
July 19,2004
Minnesota Housing Finance Agency
Page - 2 -
Waiver of Plan Review Fee: Every building permit for the City of St. Joseph is charged a Plan Review
Fee which is equal to 10% ofthe 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 ofthe connection fee.
Increased Density: The area known as Morningside 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.
Reduced Setbacks: The Planning Commission has reviewed the plat for Morningside 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.
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 from holding
ponds and wetland areas. Based on the submitted plan, a variance will be needed from the same design
standards amended. However, the ability to provide Life Cycle Housing is important enough to grant the
needed variances.
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 of 36'. 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.
Expediency 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 Morningside Acres, the City allowed
the plat to move forward prior to having all the final documents and considered the plat within a 30 day
period.
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
July 19,2004
Minnesota Housing Finance Agency
Page - 3 -
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 Morningside TownllOme Development.
Sincerely,
CITY OF ST. JOSEPH
~~
Larry Hosch
Mayor
. Gateway Place .
A Multifamil;9 Living communit;9
Attachment IV
MHF A Scoring Worksheet
...
....
.....
....
.....
~.SCI
Sand Companies, Inc.
Coostru<Uln . Property Manag<rntJ11. o..dopmfnl
(320) 202-3100
Waite Park, Minnesota
www.SandCompanies.com
MINNESOTA HOUSING FINANCE AGENCY
2006 HOUSING TAX CREDIT PROGRAM
SELF-SCORING WORKSHEET FOR SELECTION POINTS
Development Name:
Address:
City:
To be eligible for selection considerations of MHF A administered tax credits from the State's volume cap under the MHF A Qualified
Allocation Plan, a developer must demonstrate that the proiect is eligible for not less than 30 points,
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 (D) for points claimed. The MHF A will determine 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.
ROUND 1 - MINIMUM THRESHOLD REQUIREMENTS
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
3. D Substantial rehabilitation projects in neighborhoods targeted by the city for revitalization.
b. Outside the Metropolitan Area:
I. 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 Threshold 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:
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 9 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;
d. D 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 (1) 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
1. D
2. D
3. D
4. D
5. D
e. D Projects financed by Rural Development, which meet statewide distribution goals.
Minnesota Housing Finance Agency
Multifamily Housing Resource
Housing Tax Credit Program
'1nnk Colf_Crn..inn ',4,/"..vchoot
1 of 15
(HTC Form 10) MHR Form 310
5/2005
Selection Priorities
1. Large Family Housing
10 Points
The proposal is for a project that provides family 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: Ifpoints 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
D The proposal is for the rehabilitation of an existing structure
10 points
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.
A qualified preservation project that receives full points for "Preserved Federally Assisted Low
Income Housing" may qualify ifrehabilitation 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.
D The rehabilitation proposal is part of a community revitalization or stabilization plan.
2 additional points
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.
-OR-
D 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
'")()nt:; Colf_Cr......inn \^''''......<:'h.:''',,,..
2 of IS
Developer
Claimed
MHFA
A warded
(HTC Form 10) MHR Form 310
5/2005
Selection Priorities
4. Special Populations
3 or 10 Points
Projects that are not restricted to persons of a particular age group and in which, for the term 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 600 I, 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. ~ 2568.093, Subdivision 4, paragraph (a); or
(e) 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.
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 ifso 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 form executed by the owner and architect.
Note: Ifpoints 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 of 25-50 percent of units affordable 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 Carryover Allocation and IRS Form 8609 are prepared to determine
the maximum tax credit allocation for the project.
Minnesota Housing Finance Agency
Multifamily Housing Resource
Housing Tax Credit Program
")f'\f'\(:.. c:"",lf_Crnr;nn \M",..vehaat-
3 of 15
Developer
Claimed
MHFA
A warded
(HTC Form 10) MHR Form 310
5/2005
Selection Priorities Developer MHFA
Claimed A warded
6. Cooperatively Developed Plan 5 or 10 Points
City comprehensive plans alone do not qualifY for the options below.
D -
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-
D 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 thereof) OR
. Regional Unit of Government
AND one or more of the following:
. Neighborhood and/or community group
. Housing provider
. Funders
7. Project Location 5 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.
-
D The proposed housing is located in one of the top ten job or population growth - 10 points
D 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 / Cost Reduction 1 to 10 Points
One or more of the following:
(One point for each box checked, with a maximum of JO points)
-
D Land donation of the development site
D Monetary/in-kind work and material donations
D Donation or waiver of development specific assessments or infrastructure costs
D Density bonus
D Reduced setbacks
D Reduced parking requirements
D Decreased road widths
Minnesota Housing Finance Agency
Multifamily Housing Resource
Housing Tax Credit Program
?nnt:. c:o::olf_c:r........inn 'Mn...t...c-ho.a."
4 of 15
(HTC Form 10) MHR Form 310
5/2005
Selection Priorities
(Selection Priority 8. continued)
D Flexibility in site development standards
D Flexibility in zoning code requirements
D WAC/SAC reductions
D Fast-track permitting and approval
D Innovative building techniques or materials
Provide specific cost savings amounts and details to justify points claimed
If land 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 Local Contributions.
Assistance from the MHF A Super RFP and related Funding Partners i.e. 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
2 to 10 Points
D The proposal is receiving funds from an area employer. - 4 points.
D 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
D The proposal receives funds from a private philanthropic group, religious organization, or
charitable organization. - 2 points
Provide specific details to justify points claimed
Ifland 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 Avoidance/Cost Reduction.
Minnesota Housing Finance Agency
Multifamily Housing Resource
Housing Tax Credit Program
..,oru::;. c:"'If-c:,..,.....inn 'M,......L-cho.or
5 of 15
Developer
Claimed
+
MHFA
Awarded
+
(HTC Form 10) MHR Form 310
5/2005
Selection Priorities
(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
will 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.
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 form 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.
10. Leverage
2 to 10 Points
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 MHF A RFP funds* divided by Total Development Cost.
*(including past and present MHF A and Funding Partners [Le. Family Housing Fund, Greater Minnesota
Housing Fund, Metropolitan Council Local Housing Incentive Account] awards and current requests) and
(excluding First Mortgage, Syndication, HOME, MARIF funds).
Total state RFPIFunding Partner Funds awarded and current request $_ divided by Total
Development Cost $_ equals Leverage Ratio _%.
o 0-20% = 10 pts
o 21-30%= 8 pts
o 3 1-40% = 6 pts
o 41-50% = 4 pts
o 51-60% = 2 pts
o 61 and above = 0 pts
Documentation of the amount and the terms of assistance must be provided from the provider of the
assistance at the time of application in the form of a development specific letter of intent. Within 6
months of the date of selection (MI-IFA 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.
Minnesota Housing Finance Agency
Multifamily Housing Resource
Housing Tax Credit Program
")nnh C:olf_Crf'lrinn \M"..vc:h",,..,,,t-
6 of 15
Developer
Claimed
1-
MHFA
Awarded
1-
(HTC Form 10) MHR Form 310
5/2005
Selection Priorities
11. Readiness to Proceed
2 to 10 Points
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 (i.e. Family Housing Fund, Greater Minnesota Housing Fund, Metropolitan Council Local
Housing Incentive Account) are only included if obtained in a previous funding cycle/round). 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.
(Excludes current funding round requests for Syndication Proceeds and First Mortgage Financing)
Total eligible funding secured, awarded or committed $_
Divided by Total Development Cost $_ equals Percentage of Funds Committed_%.
o 60% or more of funding secured, awarded or committed
o 30% to 59.9% of funding secured, awarded or committed
o 10% to 29.9% of funding secured, awarded or committed
o 9.9% and below offunding secured, awarded or committed
12. Intermediary Costs (Soft Costs)
10 points
6 points
2 point
o points
1 to 6 Points
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 Form 8609. *(In 2004 Total Mortgageable Costs were in effect)
Intermediary cost amount: $_ divided by Total Development* Costs $_
Equals Intermediary Percentage_%
o 0.0-15%
o 15.1-20%
o 20.1-25%
o 25.1 - 30%
o 30.1%&over
13. Unacceptable Practices
6 points
3 points
2 points
I point
o points
-10 to -25 Points
MHF A will impose penalty points for unacceptable practices as identified in Section IV.F. of the Housing
Tax Credit Procedural Manual.
14. Eventual Tenant Ownership
1 Point
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 from the initial ownership entity (or MHFA 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 HTC Procedural Manual for additional information.)
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).
The owner therefore, agrees to waive provisions of Section 42(h)(6)(E)(i)(II) and 42(h)(6)(F) and
extends the duration of low-income use of the project to a minimum of 30 years.
Minnesota Housing Finance Agency
Multifamily Housing Resource
Housing Tax Credit Program
'1nnk Co.lf_Crr....inn \M.......vchoar
7 of 15
Developer
Claimed
MHFA
A warded
(HTC Form 10) MHR Form 310
5/2005
Selection Priorities
15. Underserved Populations
3 to 10 Points
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:
o 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 of underserved populations? 3 points
OR
o 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 of under served populations; and the applicant
has past successful experiences in marketing to or working with underserved populations?
o I Underserved Population = 5 points
o 2 Underserved Population = 10 points
(NOTE: see selection priority #4 for Disabled Individuals)
16. Temporary Priority
3 Points
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
Permanent Rules of the Minnesota Housing Finance Agency.
17. Preservation of Existing Housing Tax Credit Units
10 Points
IIMPORTANT NOTE:I
THESE POINTS ARE A V AILABLE ONLY TO EXISTING MHF A TAX CREDIT PROJECTS
APPL YING FOR TAX CREDITS FROM MHF A'S COMPETITIVE ALLOCATION PROCESS
(CONSOLIDATED RFP) and QUALIFIED TAX EXEMPT PROJECTS APPLYING FOR A
PRELIMINARY DETERMINATION LETTER FROM MHFA AS THE CREDIT ALLOCATOR.
To obtain the related points, the existing tax credit housing must meet the following criteria:
I. The development received an MHF A 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)(II) and 42(h)(6)(F)
within the next 12 months; and
2. Applicant agrees to maintain the Housing Tax Credit Units in the development for at least 30 years;
and
3. The proposal will not result in the displacement of existing low and moderate income residents;
and
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 final determinations 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.
Minnesota Housing Finance Agency
Multifamily Housing Resource
Housing Tax Credit Program
')(inh Colf_ern..;n.... '^,,,,..vch.:..::...
8 of 15
Developer
Claimed
MHFA
A warded
(HTC Form 10) MHR Form 310
5/2005
Selection Priorities Developer MHFA
... Claimed A warded
18. Permanent Housing for Individuals Experiencing Long Term Homelessness
(5 to 110 Points)
MHFA Competitive Round, Non-Tax Exempt Points ("bonus" points) 100 Points -
MHFA Competitive Round or Tax Exempt Points C\non-Bonus" points) 5 or 1 0 Points
IIMPORT ANT NOTE:I
THE 100 "BONUS" POINTS ARE A V AILABLE ONLY TO QUALIFIED PERMANENT
HOUSING PROJECTS TARGETING INDIVIDUALS EXPERIENCING LONG TERM
HOMELESSNESS APPLYING FOR TAX CREDITS FROM MHFA'S COMPETITIVE
ALLOCATION PROCESS (CONSOLIDATED RFP)
QUALIFIED TAX EXEMPT PROJECTS APPLYING FOR A PRELIMINARY
DETERMINATION LETTER FROM MHFA AS THE CREDIT ALLOCATOR WILL BE
LIMITED TO A MAXIMUM AWARD OF 10 POINTS ("NON-BONUS" POINTS) FROM nns
POINT CATEGORY.
QUALlFING PROPOSALS MUST CONTAIN A MINIMUM OF 4 UNITS SERVING HOMELESS
HOUSEHOLDS.
A proposal which is awarded scoring points from this category and is selected to receive tax credits
will be required to complv with the Long Term Homelessness reporting requirements as defined bv
the MHF A. The Tax Credit Declaration of Land Use Restrictive Covenants. including a specific
Rider to the Declaration. will contain performance requirements related to these Long Term
Homelessness units and will be recorded with the propertY.
The 100 points ("bonus points") will be available until a total of $1 ,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.
The MHF A will promote housing for households experiencing long-term homelessness by giving
preference points to proposals that meet all the following conditions:
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;
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 I Plan Housing Gaps Analysis and described in
the Continuum of Care Narrative submitted to HUD;
c) provides an acceptable plan for resident support services (i.e. 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;
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;
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.
Minnesota Housing Finance Agency
Muitifamily Housing Resource
Housing Tax Credit Program
?nn,:, <:.olf_<:,..",..;..,,,, \M......t.-rhoot-
9 of 15
(HTC Form 10) MHR Form 310
5/2005
Selection Priorities
Developer
Claimed I ...
MHFA
A warded
(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) ofthe 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, Forms 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 MHF A for applications serving persons experiencing long-term
homelessness.
The MHF A recognizes that rental assistance, or operating subsidies, and supportive services may be
necessary to effectively serve households experiencing Long-term homelessness. In the event that
necessary rental assistance, operating support or tenant service funding is withdrawn or terminated due
to reasons not attributable to the actions or inactions of the owner and alternative funding is unavailable,
the owner may petition MHFA, in writing, for the termination or modification of the requirement that
the assisted units be occupied by households Experiencing Long-Term 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-Term
Homelessness. A development that is in full compliance with all the terms of the funding may be
permitted to phase out the targeting of tax credit units to persons experiencing Long-term 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
I 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.
Preference Priorities Developer MHFA
Claimed A warded
1. Extended Duration (New for 2006)
All proposals must maintain the duration of low-income use for a minimum of 30 vears. Points are Points are
not not
To be eligible for selection considerations of MHF A administered tax credits under the MHF A awarded awarded
Qualified Allocation Plan. one of the minimum requirements is that a proposal maintain Section 42 for this for this
income and rental restrictions for a period of 30 vears beginning with the first dav of the compliance item. item.
period in which the building is a part of a qualified low-income housing proiect. Points are no longer
awarded to proiects where the owner agrees to waive provisions of Section 42(h)(6)(E)(i)(Il) and
42(h)(6)(F) and extend the duration oflow-income use of the proiect.
The owner agrees that the provisions of Section 42(h)(6)(E)(i)(1l) and 42(h)(6)(F) (which provision
would permit the owner to terminate 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
")(1("lh Co.lf_C,..,.....inn \^"".vchoor
10 of 15
(HTC Form 10) MHR Form 310
5/2005
Preference Priorities
2. Serves Lowest Income Tenants/Rent Reduction
...
5 to 13 Points
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.
In addition to the elected income limit of 50 percent or 60 percent AMI for the full term of the declaration
(refer to the Minimum Set Aside), the applicant agrees to maintain deeper rent structuring for which
selection points are requested.
_Units Representing _percent of the HTC units will have additional rent restrictions requiring
rents affordable to households at 30 percent AMI (Rent Restrictions 30 percent)
_Units Representing _percent of the HTC units will have additional rent restrictions requiring
rents affordable to households at 50 percent AMI (Rent Restrictions 50 percent)
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).
D 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)
D 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
D 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)
NOTE: If points are claimed / awarded for this category, then no points may be claimed
/ awarded from the selection priority category of Rental Assistance for the same units.
IIMPORT ANT:I
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
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.
Year
1-5
6
7
8
130% of 50%1
Rent Levels
30% of 50%
30% of 53%
30% of 57%
30% of 60%
130% of 30%1
Rent Levels
30% of 30%
30% of33%
30% of37%
30% of 40%
MHF A will incorporate these restrictions into the project's Declaration of Land Use Restrictive
Covenants. The applicant must demonstrate to sole satisfaction of MI-IF 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 IS-year pro forma and gaining MHF A
management approval (for management, operational expenses, and cash flow assumptions).
Minnesota Housing Finance Agency
Multifamily Housing Resource
Housing Tax Credit Program
'")nn~ Calf-C:r",.inn '^'",....C'haat
11 of 15
Developer
Claimed
MHFA
A warded
(HTC Form 10) MHR Form 310
S(2005
Preference Priorities Developer i MHFA
...... .......... Claimed A warded
3. Preservation of Federally Assisted Units
(Non-Tax Exempt, MHFA Credit Ceiling, Competitive Round Projects) 10 Points
(Tax Exempt, Non-MHFA Credit Ceiling, Non-competitive Round Projects) 10 Points -
IIMPORT ANT NOTE:1
THESE POINTS ARE AVAILABLE ONLY TO QUALIFYING NON-TAX EXEMPT PROJECTS
APPL YING FOR TAX CREDITS FROM MHF A'S COMPETITIVE ALLOCATION PROCESS
(CONSOLIDATED RFP) and QUALIFIED TAX EXEMPT PROJECTS APPLYING FOR A
PRELIMINARY DETERMINATION LETTER FROM MHFA AS THE CREDIT ALLOCATOR.
(Provide specific details to justify points claimed)
DEFINITION - 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.
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 A, at its sole discretion, must
agree that a market exists for a conversion to market rate housing.
In order to obtain the related points, the federally assisted housing must meet the following criteria:
I Units must be considered at risk oflosing assistance within two years of the Housing Tax Credit
Application date as supported by information contained in the application and with final determinations
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.
3 Applicant must agree to maintain the Housing Tax Credit Units in the development for at least 30
years.
Except for "good cause", applicant must not evict existing subsidized residents and must continue to
renew leases for those residents.
4. QCT/Community Revitalization 1 Point
A 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.
Minnesota Housing Finance Agency
Multifamily Housing Resource
Housing Tax Credit Program
?nf"lh C:clf_Crn,.inn \MnrvC'haot-
12 of 15
(HTC Form 10) MHR Form 310
5/2005
Preference Priorities
5. Rental Assistance
4 to 18 Points
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.
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 ofa voucher or certificate of eligibility under Section 8 of the United States Housing Act of 1937
because ofthe 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.
D (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.
D (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.
NOTE: If points are claimed/awarded for this category, then no points may be claimed/awarded
from the preference priority categories of Serves Lowest-Income Tenants/Rent 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 HUD 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 of the
fully executed HUD Approval for the project-based rental assistance to be included in the
development.
For Project Based Rental Assistance in conjunction with a commitment for an "extended term contract" by
the I-IRA, in addition to the above HUD application, at time of application the applicant must submit a
letter of intent to enter into the "extended term 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 of a copy of the HRA "extended term
contract" for the project-based assistance to be included in the development.
Minnesota Housing Finance Agency
Multifamily Housing Resource
Housing Tax Credit Program
..,rH1e;;, CQtLCr.......inn \Mn........C'hcot
13 of IS
Developer
Claimed
MHFA
A warded
(HTC Form 10) MHR Form 310
5/2005
Preference Priorities Developer MHFA
......ii' << ........ Claimed Awarded
(Preference Priority 5. continued)
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 of intent 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 of the cooperatively developed housing plan.
TOTAL POINTS
- -
Developer MHFA
Claimed A warded
Minnesota Housing Finance Agency
Multifamily Housing Resource
Housing Tax Credit Program
'1nn,::; Calf_Crn...in" \^,,,...L-chOQ"
14 of 15
(HTC Form 10) MHR Form 310
5/2005
Under penalty of perjury, Owner hereby certifies the information provided herein is true and accurate.
Name of Owner:
By:
(Signature)
Of:
(Name of Legal Entity)
Its:
(Title )(Managing General Partner)
(Print or type name of signatory)
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 ifnot eligible, and to determine points awarded. MHFA will 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.
Minnesota Housing Finance Agency
Multifamily Housing Resource
Housing Tax Credit Program
?nnh Calf_Crr...inn \^'......t;chQQ..
15 of 15
(HTC Form 10) MHR Form 310
5/2005
.. Gateway Place .
-- -
~
I
I I
A Multifamil~ Livil19 Commul'lit~
..,
.
I
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I
I I
Attachment V
Sand COlllpanies, Inc. Profile
'-
(.SCI
Sand Companies, Inc.
OxIMrudioo. Property M.~. ~
(320) 202-3100
Waite Park, Minnesota
www.SandCompanies.com
Construction. Property i\1anagement. Development
(320) 202-3100
Waite Park, Minnesota
wwmSandCompanies.com
Company Profile
January 1, 2005
Office Location:
Sand Companies, Inc.
366 South Tenth A venue
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
SAND COMPANIES, INC.
MISSION STATEMENT
......
Our Mission Statement
"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
wor k will prevail in every
project they accomplish
for our clients."
~SCI
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2
SAND COMPANIES, INC.
HISTORY
Sand Companies, Ine. 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, Ine. In December of 1997, Sand
Companies, Ine. purchased SCS Management, Ine., 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, Ine. 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, Ine. 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.
.:SCI
't::~J!;.
3
SAND COMPANIES, INC.
VISION STATEMENT
......
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."
Leo M. Sand
Chief Executive Officer
+:SCI
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4
SAND COMPANIES, INC.
CORPORATE TEAM
.....
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, Ine. in 1991
E-mail Address:LMSand@SandCompanies.com
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@SandCompanies.com
Scott K Bailey, Chief Financial Officer
24 years as a Certified Public Accountant
Joined Sand Companies, Inc.'s Team in 2004
E-mail Address:SKBailey@SandCompanies.com
Joyce A. Winter, Corporate Secretary
20 years Accounting & Management Experience
Joined Sand Companies, Inc.'s Team in 1993
E-mail Address:JAWinter@SandCompanies.com
..:SCI
.~A;:?:!t.rU!:.
5
SAND COMPANIES, INC.
MANAGEMENT TEAM
~
Gene M. Walter, Vice President of Construction Operations
32 years Construction Experience
Joined Sand Companies, Inc.'s Team in 1993
E-mail Address:GMWalter@SandCompanies.com
Roger Gertken, Project Superintendent
18 years Construction Experience
Joined Sand Companies, Inc.'s Team in 1994
E-mail Address:RWGertken@SandComoanies.com
Ted M. lindberg, Senior Project Estimator
22 years Project Management/Estimating Experience
joined Sand Companies, Inc.'s Team in 1995
E-mail Address:TMLindberg@SandComoanies.com
Neil R. Fortier, Vice President of Management
15 years Management Experience
Joined Sand Companies, Inc.'s Team in 1997
E-mail Address:NRFortier@SandComoanies.com
Jerry L. Burau, Special Projects Manager
30 years Management & Purchasing Experience
Joined Sand Companies, Inc.'s Team in 1998
E-mail Address:TLBurau@SandComoanies.com
<SCI
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6
SAND COMPANIES, INC.
MANAGEMENT TEAM
.......
Jim W. Sand, Vice President of Development/Risk 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:TWSand@SandCompanies.com
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@SandComoanies.com
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:RAHennings@SandComoanies.com
.:SCI
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7
SAND COMPANIES, INC.
BANK REFERENCES
.......
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
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
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
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
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
Neighborhood National Bank
803 North Nokomis NE, PO Box 129
Alexandria, MN 56308
www.nnbnet.com
Mr. Clark Bauldwin
Presiden t
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
+:SCI
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8
SAND COMPANIES, INC.
TRADE REFERENCES
.......
Trimpac, Ine.
PO Box 277
St Cloud, MN 56302
www.trimpaconline.com
Mr. Mac McCarney
Tel (320) 202-3200
Fax (320) 202-3202
JT 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
J-Berd Mechanical Contractors, Ine.
3308 Southway Drive
St. Cloud, MN 56301
Mr. Dave Berdan
Tel (320) 656-0847
Fax (320) 656-0312
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
Otto Associates
9 West Division
Buffalo, MN 55313
www.ottoassociates.com
Mr. Marty Campion
Tel (763) 682-4727
FCL'X (763) 682-3522
Apollo Insurance Agency
28 11th Avenue South
St. Cloud, MN 56301
www.apolloinsurance.com
Mr. John Delinsky
Tel (320) 253-1122
Fax (320) 253-9969
Al's Ornamental Iron & Welding, Ine.
304 31st Avenue South
Waite Park, MN 56387
Mr. Al Haus
Tel (320) 656-8851
Fax (320) 656-8860
AH Bennett Company
1020 Lincoln Avenue
Sauk Rapids, MN 56379
www.ahbennett.com
Ms. Dawn Koskinen
Tel (800) 216-4831
Fax (320) 255-1787
Molin Concrete Products
415 Lilac Street
Lino Lakes, MN 55014
WWlv.molin.com
Mr. Dan Molin
Tel (800) 336-6546
Fax (651) 786-0229
+: SCI
-~t?:!Jt};:.
9
SAND COMPANIES, INC.
CLIENT REFERENCES
.......
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 55;308-8318
Mr. John Belisle
Tel (651) 429-2445
Fax (253) 295-2240
St. Cloud Housing Limited Partnership
609 Ninth Street North
Sartell, MN 56377
Mr. Stan Weinberger
Tel (320) 252-4414
Fax (320) 252-4482
Birchaven Village
1633 Delton Avenue
Bemidji, MN 56601
Mr. Jim Birchem
Tel (218) 444-1709
Fax (218) 444-1744
Stearns County HRA
312 1st Street North
Cold Spring, MN 56320
Mr. Bob Swanberg
Tel (320) 685-7771
Fax (320) 685-7580
Central MN Federal Credit Union
20 South 4th Ave. East
Melrose, MN 56352
Mr. Rick Odenthal
Tel (320) 256-4269
Fax (320) 256-7519
Mother of Mercy Nursing Home
230 Church Avenue
Albany, MN 56307
Mr. Bob Wikan
Tel (320) 845-2195
WML Services Corporation
2101 South Blackhawk Street, Suite 100
Aurora, CO 80014
Mr. Earl Wing
Tel (303) 564-4685
Hagemeister & Mack Architects, rne.
501 West St. Germain, Suite 200
St. Cloud, MN 56301-3605
Mr. Murray Mack
Tel (320) 251-9155
Fax (320) 251-4919
Pope Associates
1255 Energy Park Drive
St. Paul, MN 55108-5118
Mr. Skip Sorenson
Tel (651) 642-9200
Fa.'{ (651) 642-1101
<SCI
:~~~:^r:::.
10
SAND COMPANIES, INC.
CITY REFERENCES
.......
City of Albany
PO Box 370
Albany, MN 56307
Mr. Tom Schneider
(320) 845-4244
Ci ty of Rogers
12913 Main Street
Rogers, MN 55374
Mr. Gary Eitel
(763) 428-2253
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
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
( 6 51) 4 5 0- 2 5 5 3
<SCI
......(-~.!~,
11
SAND COMPANIES, INC.
LICENSE NUMBERS
.....
MN Building Contractors License:
MN Real Estate Company License:
BC-20061296
RC-20144987
PROFESSIONAL AFFILIATIONS
.......
Associated Builders and Contractors, Ine.
American Institute of Architects
Minnesota Multi-Housing Association
St. Cloud Area Chamber of Commerce
Minnesota Safety Council
Society of Human Resource Management
ACCOUNTANT & LEGAL COUNSELS
.....
Schlenner 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
+:SCI
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12
SAND COMPANIES, INC.
CONSTRUCTION & DEVELOPMENT PROJECT LIST
......
1990 Park Place Estates 1996 Country Inn & Suites
84 Units Luxury Apartments 46 Guest Rooms
St. Cloud, Minnesota Detroit Lakes, Minnesota
1990 Speedy Print 1996 Albany Cottages - Phase I
St. Cloud, Minnesota 4 Units Rental Patio Homes
Albany, Minnesota
1991 Skip Sorensen Residence 1997 Country Inn & Suites
Monticello, Minnesota 22 Guest Room Addition
Baxter, Minnesota
1992 Park Place Estates II 1997 Huski Townhomes
92 Units Luxury Apartments 32 Units Rental Townhomes
St. Cloud, Minnesota Hutchinson, Minnesota
1994 7th Street Townhomes 1997 Mercy Manor
15 Units Rental Townhomes 41 Units HUD 202 Housing
Monticello, Minnesota Albany, Minnesota
1994 Country Inn 1997 Country Inn & Suites
46 Guest Rooms 63 Guest Rooms
Baxter, Minnesota Shakopee, Minnesota
1994 Regency Park Estates 1997 Country Inn & Suites
145 Units Luxury Apartments 46 Guest Rooms
St. Cloud, Minnesota Walker, Minnesota
1995 Country Inn 1998 Albany Cottages - Phase II
60 Guest Rooms 8 Units Rental Patio Homes
Woodland Park, Colorado Albany, Minnesota
1995 Lakeville Court Apartments 1998 Park Forest Estates
52 Units Rental Apts/Townhomes 55 Units Senior Apartments
Lakeville, Minnesota Mora, Minnesota
1996 Countryside Townhomes 1998 Country Inn & Suites
12 Units Rental Townhomes 48 Guest Rooms
Albany, Minnesota Albany, Minnesota
.~SCl
t:H;~U!:_
13
SAND COMPANIES, INC.
CONSTRUCTION & DEVELOPMENT PROJECT LIST
.......
1999 Country Inn & Suites
78 Guest Rooms & Conf. Center
Mankato, Minnesota
1998 TGI Friday's Restaurant
297 Seats
Mankato, Minnesota
1998 Woodland Townhomes
30 Units Rental Townhomes
Mahtomedi, Minnesota
1999 Country Inn & Suites
79 Guest Rooms
Elk River, Minnesota
1999 Microtel Inn & Suites
82 Guest Rooms
Fargo, North Dakota
1999 Sterling Twinhomes
34 Units For Sale Twinhomes
Mahtomedi, Minnesota
1999 Brickstone Townhomes
30 Units Rental Townhomes
Chaska, Minnesota
1999 Brickstone Estates
53 Units Apartments w/Retail
Chaska, Minnesota
1999 Elm Creek Twinhomes
14 Units For Sale Twinhomes
Maple Grove, Minnesota
1999 Park Place Phase I
Community Rm & Elevator Add
St. Cloud, Minnesota
2000 The Creeks
24 Units Rental Townhomes
St. Cloud, Minnesota
2000 Boulder Ridge Townhomes
30 Units Rental Townhomes
Shakopee, Minnesota
2000 Memory Lane
Alzheimer Facility
Albany, Minnesota
2000 School Square Apartments
17 Units Apts/Townhomes
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
<SCI
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14
SAND COMPANIES, INC.
CONSTRUCTION & DEVELOPMENT PROJECT LIST
.....
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
Mankato, Minnesota
2001 Oak Grove Townhomes 2003 Monument Ridge Estates
30 Units Rental Townhomes 135 Units Luxury Apartments
St. Cloud, Minnesota Inver Grove Heights, Minnesota
2001 Shadow Hills Estates 2004 Central MN Federal Credit Union
322 Units Luxury Apartments Office Building Renovation
Plymouth, Minnesota St. Joseph, Minnesota
2002 Heritage Park Estates 2004 Main Street Apartments Demo
150 Units Luxury Apartments EnvironmentaljDemoli tion
St. Cloud, Minnesota Albany, Minnesota
2002 North Pointe Townhomes 2004 Heritage Place
18 Units Rental Townhomes 75 Units Senior Apartments
Blaine, Minnesota Rogers, Minnesota
2002 East Ridge Court 2004 Country Inn & Suites - East
18 Units Senior Housing 67 Guest Rooms
Renville, Minnesota St. Cloud, Minnesota
2002 Southview Estates 2004 Mercy Manor Remodel
47 Units Apartments Senior Assisted Living Conversion
Bloomington, Minnesota Albany, Minnesota
2003 Boulder Ridge Townhomes II 2004 Residential Land Development
22 Units Rental Townhomes 21 acres of Multi & Single Family
Shakopee, Minnesota St. Joseph, Minnesota
2003 Country Inn & Suites 2004 Pullman Place
193 Guest Rooms 65 Unit Senior Cooperative
Denver (Airport), Colorado Elk River, Minnesota
2003 American National Bank 2005 Morningside Townhomes
Expansion & Renovation 32 Units Rental Townhomes
St. Cloud, Minnesota St. Joseph, Minnesota
<SCI 15
.h:'!,r::7Z!\~
SAND COMPANIES, INC.
CONSTRUCTION & DEVELOPMENT PROJECT LIST
-..-
2005 Mercy Manor II
26 Units HUD 202 Housing
Albany, Minnesota
2005 Chanhassen Gateway Development
20 Acres Commercial & Residential
Chanhassen, Minnesota
2005 Park Meadows Addition
20 Single Family Lots
Hutchinson, Minnesota
2005 Albany Golf Vistas Addition
30 Single Family Lots
Albany, Minnesota
.:SCI
:r!:';t~t:.
16
SAND COMPANIES, INC.
HOSPITALITY MANAGEMENT CONTRACTS
.....
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
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) 375-11 05
.:. 193 Guest Rooms
.:. Meeting Rooms
Country Inn & Suites By Carlson@
5353 North 27th Street
Lincoln, Nebraska 68521
(402) 476-5353
.:. 95 Guest Rooms
.:. 350 Person Conference Center
.:. Attached Beacon Hills Restaurant
Beacon Hills Restaurant
5353 North 27th Street
Lincoln, Nebraska 68521
(402) 476-5300
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@
120 7th Avenue Southeast
St. Cloud, Minnesota 56304
(320) 252-8282
.:. 67 Guest Rooms
.:. Meeting Rooms
+:SCI
,trt:~d:i
17
SAND COMPANIES, INC.
RESIDENTIAL HOUSING MANAGEMENT CONTRACTS
~
Townsite Apartments
16 Units Apartments
Albany, Minnesota
Asset Management
Parkview Apartments
24 Units Apartments
Avon, Minnesota
Asset Management
Lakeville Court Apartments
52 Units AptsjTownhomes
Lakeville, Minnesota
Countryside Townhomes
12 Units Rental Townhomes
Albany, Minnesota
Woodland Townhomes
30 Units Rental Townhomes
Mahtomedi, Minnesota
Albany Cottages
12 Units Rental Townhomes
Albany, Minnesota
Huski Townhomes
32 Units Rental Townhomes
Hutchinson, Minnesota
Brickstone Townhomes
30 Units Rental Townhomes
Chaska, Minnesota
Boulder Ridge Townhomes
30 Units Rental Townhomes
Shakopee, Minnesota
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
Heri tage Place
75 Units Senior Rental Apartments
Rogers, Minnesota
.:SCI
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18
SAND COMPANIES, INC.
RESIDENTIAL HOUSING MANAGEMENT CONTRACTS
......
Morningside Townhomes
32 Units Rental Townhomes
St. Joseph, Minnesota
.
.
.:SCI
~.~J!:.
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