Laserfiche WebLink
Flexibility in honing code requirements <br />1~AC/SAC reductions <br />Fast-track permitting and approval <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk River that <br />it hereby approves this Resolution in Support of the Elk River Station <br />Apartments Concept and Housing Tax Credit Application to the Minnesota <br />Housing Finance Agency (MHFA) in the following manner: <br />Donation or waiver of localgovernmentfees - A credit equal to 5% of total fees <br />(equal to $25,000) <br />Keduction of infrastructure costs -The City is allowing a reduction in the number <br />of parking stalls that the code requires. <br />Density bonus -The City zoning code allows fox only 38 units/buildable acre. <br />Through the PUD process, a total of 60-units is allowed. <br />Flexibility in honing code requirements -The project has been rezoned from single <br />family to multi-family through the PUD process. <br />LVAC/SAC reductions- Utilizing an escrow arrangement fora 1-year deferral <br />on payment of WAC/SAC fees. <br />Fast-track permitting and approval -Staff is working with Duffy Development to <br />expedite the review and approval of the proposed development. <br />Passed and adopted this 215` day of September 2009. <br />Stephanie Klinzing, Mayor <br />ATTEST: <br />Tina Allard, City Clerk <br />S:\EDA\HRA\HOUSING\Duffy Development 2009\Resolution of City Support.doc <br />