1997-02-10 Zoning Request
.ONE (612) 202-~o6o
. FAX (612) 202~9000
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Enclosed is our Zoning Request Application for the property located near tlle iptersection
of County Road 19 and 57th Str~t in. Albertville, Minnesota. (See attached location
map). .
In addition to our request for an amendment to the. Comprehensive Land Use PIan,
rezoning to PUD, Planned Unit Development, and approval of a plat to subdivide the
property descn'bed in Exhibit B from the remainder of the land, we are also requestipg
assistance from the City of Albertville in the form of Pay-As-You-Go Tax Increment
Financing (TIF) for the property descn'bed in Exhibit}3. .
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We requesHhanhe City of Albertville approve a Development District pursuant to
Minnesota Statutes, C~pter 4~9 and approve a Tax Increment FmancingDistrict for the
use of Tax Increment Financing to assist us, the Developer, with the financing of certain
cost of the project in the' development of 44 Senior Rental Units. The project is intended
.' for occupancy, in part, by persons or families oflow and moderate income. At least one
person in each unit of the project will be either 55 years old or older, or physically
handicapped. .
We are confident thaftheCity of AlbertvillewiII find and determine thefonowing:
1. There is a need for the activities of this Development District, we wish to be
eStablished? to be financed in part by the tax increments from the District.
2. That the activities to be financed by the .tax increlllentsfrom the District will
carry out the objectives of the Development District to be established, by .
encouragipg development,' providing housing opportunities for moderate income
senior citizens and enhancipg the tax base.
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3. That the provisions forhousingopportunities andtbepresenrationand
enbancementof tbe tax base are in tbe public interestof tbeCity and the .
expenditures of the District are a public purpose.
4. That the tax increment financing ,plan and the area described in ExhibitB is
desi~natedas a Housing District pursuant to Minnesota Statutes, because it will
result in increased housing for moderate income persons in the City,andtbat itwill
result in presenration and enhancementofthe tax: baseofthe City.
5. Thattheproposed development, in the opinion ofthe City, would not
reasonablytJeexpected to occur solely through private investment within the
re(!Sonablyforeseeable future and therefore the use of tax increment financing is
deemed, necessary~
6. Tbattbefilx increment financing plan will afford maximum opportunity,
consistent with the sound needs of tbe City as a whole, for the development of the '.
District, by private enterprise.
7. Thatthetaiincrementflnancing planconfonns to'the general plan for the
development of the City asa wbole.
As indicated above, we aretequesting aPay-As-Vou-Go Tax Increment Plan' , The
advantage of this p4m, to the City, isthefactthat it is nota general obligation of the tax
payers oftbe city. ",' Tbe sole responsibility of payment ,under ',the plan is the receipt of
property taxes paid by the development;
Werequestthattbis'plan be reviewed by the"(>lanningCommissionat its earliest .
convenience. If it is possible, we would requestto.be placed on the agenda for the City
Council Meeting of Match 3, 1997 to establish a public hearing date of Apiil 7 ; 1997.
Please let me know if these dates can be achieved.
If you have~y questions," or requite any additionalinformationregardingttUs request,
please give me a call. We look forward to working with the City ofA.lbertvilleinour
attempt to'bring <luality seniorliousingto, your City.
s~.
/f(lt~~~~-,
. Steve Fends .