Laserfiche WebLink
City <br />E <br />June 20, 2023 <br />Mr. John DuffyT <br />Mr. Jeff Von Feldt ❑X Sent via email to <br />Duffy Development Company, Inc. jduffyr@duffydevelopmentcom <br />12708 Wayrzata Blvd., Suite 400 jvonfeldt@duffyrdevelopmentcom <br />Minnetonka, MN 55305 <br />RE: Proposed Elk River Affordable Senior Apartments (Coachman Ridge II) <br />Dear Mr. Duffy and Mr. Von Feldt <br />At its most recent meeting, the Elk River Cit�T Council reviewed the proposed Coachman Ridge II affordable <br />senior housing development proposal which proposes a 45-55-unit, ne��, multifamil�T construction project in <br />the CityT of Elk River. We understand that yTou `vill be submitting a funding application through the Minnesota <br />Housing Finance AgencyT (MHFA) Consolidated RFP process in JulyT of 2023, and that the project is proposed <br />to target individuals 55+ and with incomes at 30% to 50% of aYea median income. <br />The need for this tyTpe of housing in Elk River is evidenced byT the Comprehensive Housing Market StudyT <br />Updates completed for the cit�T byT Maxfield Research on FebruaryT 15, 2018, and PreliminaryT AnalyTsis for Elk <br />River Apartments completed for Duffy Development by Market Analyst Professionals on Mayr 20, 2023. <br />The proposed parcel for the propertyT is adjacent to other multifamily propertyT and the North Star light rail <br />station. The cityT's Comprehensive Plan guides the propertyT for multifamily use and would be subject to <br />standard local entitlement processes if approved for state funding. <br />The City- Council moved to support �rour application at its June 20, 2023, meeting. On behalf of the Council, <br />please accept this letter of support for yTour application to the MHFA. <br />Sincerel�T, <br />John J. Dietz <br />May or <br />13065 Orono Parkway <br />Elk River, MN 55330 <br />763.635.1000 <br />E1kRiverMN.gov <br />P 0 W E R E D e r <br />������� <br />