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RESOLUTION 09- <br />A RESOLUTION OF THE CITY OF ELK RNER <br />A RESOLUTION IN SUPPORT OF ELK RIVER STATION APARTMENTS <br />CONCEPT AND HOUSING TAX CREDIT APPLICATION <br />WHEREAS, Duffy Development Company has approached the City of Elk River <br />regarding a proposal to develop affordable housing near the Northstar Commuter Rail <br />Station; and <br />WHEREAS, the City of Elk River is committed through policy statements in its <br />Comprehensive Plan, to encourage a mixture of housing opportunities in terms of costs and <br />size while encouraging a high degree of architectural and site planning integrity; and <br />WHEREAS, Duffy Development Company's market study has identified a need for <br />affordable housing and such housing is in short supply in the local housing market; and <br />WHEREAS, Duffy Development Company's market study indicates a percentage of mass <br />transit users are individuals who live in affordable housing; and <br />WHEREAS, the site Duffy Development Company is interested in developing, Outlot D, <br />Elk River Station, is located within a walkable distance from the train station; and <br />WHEREAS, the Outlot is zoned PUD (Planned Unit Development) which allows a 60- <br />unit apartment building; and <br />WHEREAS, Duffy Development Company is committed to constructing the <br />development in compliance with the Minnesota Overlay to the Green Communities Criteria <br />for smart growth, public health, energy conservation, operational savings and sustainable <br />building practices; and <br />WHEREAS, Duffy Development Company is seeking support from the City of Elk River <br />in the following methods/areas for the benefit of its Section 42 Tax Credit application which <br />is to be submitted to Minnesota Housing Finance Agency: <br />Donation or avaiver of local government development fees <br />Reduction of infrastructure costs <br />Density bonus <br />S:\EDA\HRA\HOUSING\Duffy Development 2009\Resolution of City Support.doc <br />