2013-05-07 Northland Securities AgendaNORTHLAND SECURITIES
AGENDA
City of Albertville
Guardian Angels Housing Project
May 7, 2013, 2:OOPM
A. Introductions
B. Project Overview
• Project concept
• Number and types of units planned
• Public infrastructure improvements (i.e., utilities, street, etc.)
• Preliminary indication for financing "gap"
• Project timeline, phasing
C. Financial Information for the Project (Capital and Operating Pro Forma)
• Financial information will be needed (at a later date), as part of the public assistance request
D. Public Assistance
• Potential for Housing Tax Increment Financing District
— Duration limit is 25 years after receipt of first increment
— No restrictions on the geographic areas that qualify
— No more than 20% of the square feet of the building may consist of commercial, retail, or
other nonresidential uses
— Permitted uses of increment are for housing for low or moderate income residents (i.e.,
20% of the units occupied by persons at 50% of area -wide median income)
— Tax increment may be used to pay for housing construction costs (building structure
costs) in addition to other site improvement costs to develop the affordable housing
• Financial impact of phasing
E. Next Steps and Preliminary Timeline
Northland Securities, lnc. 45 South 7th Street, Suite 2000, Minneapolis, MN 55402 Toll Free 1-200-851-2920 Main 612-851-5900
www.nortWandsecurities.com
Member FE\ RA and SIPC
NORTHLAND SECURITIES
AGENDA
City of Albertville
Engel Haus Elderly Housing Project (Guardian Angels)
May 13, 2013, 9:30AM
A. Background
• Guardian Angels is proposing to construct a 59-61 unit elderly housing project in Albertville
at the comer of Kassel Avenue and County Road 18. The applicant wishes to have all
development permit approvals and Tax Increment Financing plans and agreements
completed by August 2013.
B. Fees and Escrow
• Discuss and complete preliminary estimate of fees and escrows (see attached Table A)
C. Schedule of Items and Timeline
• Discuss and complete preliminary schedule of items and timeline (see attached Table B)
D. Other Items to Discuss
E. Next Steps / Next Meeting Date
Northland Securities, Inc. 45 South 7th Street, Suite 2000, Minneapolis, MN 55402 Toll Free 1-200-851-2920 Main 612-851-5900
www.nortWandsecurities.com
Member FINRA and SIPC
NORTHLANDSECURITIES
TABLE A
Estimated Fee and Escrow for City of Albertville - Engel Haus Elderly Housing
This schedule will be reviewed and updated at the meeting. This is not a comprehensive list at
this time, items may be missing and amounts are missing.
ITEMS
FEE
ESCROW
Minor Subdivision
$400
$1,500
PUD Rezoning
$400
$5,000
and Final Plat
$450
$5,000
-Preliminary
Park Dedication ($3,300/unit)
$198,000
$0
SAC
WAC
Water connection
Administrative Fee (3.5% of the cost of all municipal improvements
installed in or on the plat per title)
Conduit bonds administrative fee (0.25% of par amount of bonds for
use of ci 's bonding authority)
TIF Assistance Request / Application Review (Escrow)
Northland Securities, Inc. 45 South 7th Street, Suite 2000, Minneapolis, MN 55402 Toll Free 1-200-851-2920 Main 612-851-5900
www.northlandsecurities.com
Member FINRA and SIPC