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City <br />E <br />Diver <br />June 17, 2024 <br />Mr. John Duffy ® Sent via email to jduffy@duf@evelopment.com <br />Mr. Jeff Von Feldt ® Sent via email to jvonfeldt@duf@evelopment.com <br />Duffy Development Company, Inc. <br />12708 Wayzata Blvd., Suite 400 <br />Minnetonka, MN 55305 <br />RE: Proposed Elk River Affordable Senior Apartments (Coachman Ridge II) <br />Dear Mr. Duffy and Mr. Von Feldt: <br />The Elk River City Council and Housing and Redevelopment Authority (HRA) have previously reviewed the <br />proposed Coachman Ridge II affordable senior housing development proposal which proposes a 45-55-unit, <br />new multi -family construction project in the City of Elk River. We understand that you will be submitting a <br />funding application through the Minnesota Housing Finance Agency (MHFA) Consolidated RFP process in <br />July of 2024, and that the project is proposed to target individuals 55+ with incomes at 30% to 50% of area <br />median income. <br />The need for this type of housing Elk River is evidenced by the Comprehensive Housing Market Study <br />Updates completed for the city by Maxfield Research on February 15, 2018, and Preliminary Analysis for <br />Elk River Apartments completed for Duffy Development by Market Analyst Professionals on May 20, <br />2023. <br />The proposed parcel for the proposed project is adjacent to another multi -family property and the <br />Northstar commuter rail station. The city's Comprehensive Plan guides the property for multi -family use <br />and standard entitlement processes would apply. <br />The HRA and City Council moved to support your application at their June 3 and June 17, 2024, meetings, <br />respectively. On behalf of the City Council and HRA, please accept this letter of support for your <br />application to the MHFA. <br />Sincerely, <br />John J. Dietz <br />Mayor, City of Elk River <br />13065 Orono Parkway <br />Elk River, MN 55330 <br />763.635.1000 <br />Dennis Chuba <br />Chair, Housing and Redevelopment Authority <br />AN UR E1kRiverMN.gov <br />Page 55 of 372 <br />