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A variance may be granted by the board only if it finds that: <br />The variance is in harmony with the general purpose and intent of the ordinance <br />Duffy Development owns and manages over 20 properties and more than 1000 units in the Minneapolis metro area <br />including 2 in Elk River (Coachman Ridge and the Depot). Most of our portfolio is geared towards family and offers <br />a 2:1 parking ratio. We believe that the demographics of our existing portfolio has a greater need for parking than a <br />senior development would. Because the 2:1 parking ratio at our other properties has been successful, we feel a 2:1 <br />parking ratio would be more than sufficient to meet the parking needs for senior residents and their guests. <br />The variance is consistent with the City of Elk River Comprehensive Plan (discuss with city staff in <br />needed) <br />The Comprehensive Plan identifies a need for more affordable senior housing. Granting this variance will make it more <br />likely that we are able to obtain the necessary financing for building this development. <br />Variances may be granted when the petitioner establishes that there are practical difficulties <br />in complying with the zoning ordinance. Practical difficulties means that: <br />The petitioner proposes to use the property in a reasonable manner not permitted by the zoning <br />ordinance <br />This property will be used for developing an affordable senior housing project. <br />The plight of the petitioner is due to circumstances unique to the property not a consequence of the <br />petition's own action or inaction; and <br />The funding we are attempting to obtain is driven by a very competitive application process from Minnesota Housing. <br />The scoring of that application is driven by several categories. One such category is "Other Contributions" which aims <br />to find ways to reduce the cost of the development and allows the agency to use their resources more efficiently. The <br />approval of this variance would both reduce the cost of the project and make it more viable, but would also make the <br />funding application more competitive. <br />The variance, if granted, will not alter the essential character of the locality <br />Based on our experience, we do not think granting this variance would create parking issues in this neighborhood. <br />Page 16 of 29