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From YouTube: June 26, 2019 Housing Policy & Development Committee
Description
Minneapolis Housing Policy & Development Committee Meeting
https://lims.minneapolismn.gov/
A
Good
afternoon
I'll
call
to
order
our
meeting.
This
is
the
Housing
Policy
&
Development
Committee
our
regularly
scheduled
meeting
meeting
of
June
26th
I'm,
a
council
member
acam
Gordon,
chair
of
the
committee
I'm
joined
today
by
council,
member
Reich,
Schrader
and
Goodman
were
a
quorum
of
the
committee,
and
so
we
can
conduct
the
city's
business.
A
Today
we
have
a
brief
agenda,
there's
actually
a
four
items
on
the
agenda:
three
on
the
printed
agenda
and
there's
also
an
item
I'm
walking
on,
but
I'm
gonna
propose
beyond
the
consent
agenda
and,
of
course
we
can
pull
that
off
and
talk
about
it.
We'll
have
one
public
hearing,
but
first
I'll
move
forward.
That
item
and
the
other
two
consent
items
number
two
on
you.
The
prejudice
and
a
first
of
the
consent
is
the
affordable,
housing
trust
fund.
A
Contingency
pool
this
would
be
alone
for
maya
commons
at
9:37,
13th,
Avenue
South,
the
third
item
on
the
agenda.
Our
second
consent
item
is
passes
of
a
resolution,
acknowledging
support
for
projects
that
submitted
applications
to
the
2019,
Hennepin,
County,
transit,
oriented
development
program
and
they're
listed
there
amber
apartments
gateway,
North,
East,
Midway,
Corner,
North,
Side,
art,
space,
lofts
and
the
regional
apprenticeship
and
training
center.
And
then
the
final
item
is
the
one
that's
not
on
the
printed
agenda,
but
you
should
have
the
dice
there
with
you.
A
This
would
be
to
confirm
the
mayoral
appointment,
Andrea
Brennan,
to
serve
the
see
that
check
lots
is
vacating.
This
would
be
to
serve
out
the
seat
on
the
Minneapolis
Public
Housing
Authority
board.
Just
for
the
remainder
of
this
year.
Does
anybody
want
to
pull
off
any
of
those
items
for
more
discussion?
A
Seeing
none,
then,
on
the
consent
agenda.
Those
three
items
has
read
all
those
in
favor,
please
say:
aye
aye,
any
opposed,
say
no
that
carries.
Are
those
items
carry
now
we'll
go
to
our
one
public
hearing
today?
This
is
a
hearing
on
the
tax,
increment
financing,
assistance
for
fourteenth
and
central
project
and
that's
located
on
central
on
14th
yeah.
It's
various
addresses,
we're
gonna,
have
a
little
staff
report
and
then
we'll
open
the
public
hearing
and
I
believe
fit.
B
You,
chair
Gordon
and
the
rest
of
the
committee,
my
name
is
Jamie
Randall
and
I'm
a
senior
project
coordinator
with
C
peds
residential
finance
team,
I'm.
Missin
me
as
a
chair,
Gordon,
said:
I'm
missin
make
a
brief
presentation
on
the
fourteenth
and
central
project.
Shaffer
Richardson
is
proposing
to
develop
175
unit
apartment
building
and
approximately
500
or
5500
square
feet
of
artist
oriented
production
space
at
853
to
901
14th
Avenue
Northeast
in
the
Logan
Park
neighborhood.
B
This
is
a
100%,
affordable
housing
project
with
incomes
restricted
to
households,
earning
60%
of
ami
or
below
the
median
area
income.
The
area
median
income
from
me,
25
of
those
units,
will
have
deeper
affordability.
As
a
developer
has
secured
25
project-based
vouchers
from
the
Minneapolis
Public
Housing
Authority.
These
units
will
have
income
restrictions
to
households
at
30%
of
area
median
income.
B
The
total
development
costs
for
this
project
are
estimated
at
approximately
forty
three
point:
seven
million
dollars
the
project
will
be
financed
in
a
variety
with
a
variety
of
funding
sources,
including
bonds
and
4%
tax
credits.
The
developer
has
received
preliminary
approval
from
Hennepin
County
for
the
issuance
of
housing
revenue
bonds,
and
earlier
this
spring,
the
developer
will
be
applying
for
those
bonds
later
this
summer.
The
project
is
also
funded
with
general
part,
with
a
general
partner
loan
of
one
point
of
nearly
1.5
million
dollars
and
of
deferred
development
fee
of
just
over
three
million
dollars.
B
The
developer
has
requested
approximately
3.5
million
dollars
in
tax
increment
financing
in
the
form
of
a
pay-as-you-go,
a
note
to
assist
with
the
development
of
the
housing
portion
of
this
project.
A
TIF
plan
was
transmitted
on
May,
10th
2019
and
to
date
we
have
received
no
comment
from
any
of
our
the
stakeholder
entities
or
community
purrs
before
you
today
are
three
actions
that
would
authorize
the
use
of
tax
increment
for
this
project.
B
These
actions
include
passage
of
two
resolutions,
the
first
of
which
would
be
approving
the
TIF
plan
that
is
before
you
and
the
second
would
be
authorizing
the
issuance
of
three
million
four
hundred
and
ninety
five
thousand
dollars,
but
afford
had
three
hundred
four
hundred
three
million
four
hundred.
Ninety
five
thousand
dollar
TIF
note
to
the
development
entity.
The
third
and
final
action
before
you
authorizes
a
Redevelopment
contract
with
a
developer
with
that
I
wouldn't
happy
to
take
any
questions.
B
A
A
C
I'll
make
a
motion
and
then
also
probably
want
to
touch
base
with
the
developer.
There's
many
non
related
to
this
funding
stream
aspects
to
it
and
everything
seems
to
be
consistent
on
glance
but
probably
best
to
dig
down
there's
a
lot
of
attention
in
terms
of
how
this
fits
in
with
the
productive
art
space
component
and
there's
elements
of
that
here
again
that
germane
to
today's
discussion,
because
it's
not
affected
by
that
funding.
But
still
it's
good
to
get
that
update,
so
I
can
convey
that
information
to
those
who
are
most
concerned
about
it.