03-042 RESRESOLUTION NO. 0:3-42
A RESOLUTION OF SUPPORT OF A PROPOSAL BY METROPLAINS
DEVELOPMENT, LLC TO CONSTRUCTHOUSING RENTAL UNITS IN THE
CITY OF ELK RIVER
WHEREAS, the Elk River Housing and Redevelopment Authority has entered into a
Downtown Revitalization Plan which demonstrates the need for diversity in the Central Business
District including the provision of Low/Moderate income housing, retail and office space; and
WHEREAS, MetroPlains Development, LLC has made a proposal to the City of Elk
River and the Elk River HRA to construct up to 32 units of housing with rental rates of
approximately $600-$700 per month to meet some of the housing needs that have been identified in
the Housing Plan 2001-2005 prepared by the Central Minnesota Housing Partnership and the
Market Analysis for Downtown Elk River prepared by Maxfield Research; and
WHEREAS, the City of Elk River supports the application of MetroPlains Development
LLC for Low Income Housing Tax Credits through the Minnesota Housing Finance Agency; and
WHEREAS, the City of Elk River supports the use of Tax Increment Financing by the
City of Elk River for the redevelopment of the Central Business District; and
WHEREAS, the City of Elk River supports costs avoidance for the construction of 32
housing units by providing some donated land, waiver of development spedfic assessments,
WAC/SAC reductions, density bonuses, reducing setbacks, reducing parking requirements,
decreasing road wi&hs, flexibility in site development standards and zoning code requirements and
by working with MetroPlains Development in order to fast-track the permit and approval process
WHEREAS, the City of Elk River agrees to enter into a Letter of Understanding with
MetroPlains Development LLC for the sale of the property described in the Letter of
Understanding; and
NOW THEREFORE, BE IT RESOLVED that the City Council of the City of Elk River
hereby adopts this resolution expressing its general support for the rental housing Proposal by
MetroPlains Development, LLC, and its commitment to provide ongoing assistance to bring the
project to completion, including financial assistance as may be appropriate in the sole discretion of
the City Council, to successfully complete the project.
Passed and adopted this 14th day of July 2003.
ATTEST:
Patrick D. Klaers, City Administrator
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