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� � <br /> .,�----... <br /> Mike Gaffron - <br /> From: Mike Gaffron <br /> Sent: Friday, February 26, 2010 12:12 PM <br /> To: 'nanron270@aol.com' <br /> Cc: 'Novak, Amanda' <br /> Subject: RE: Your questions re: the CommonBond Proposal <br /> Ron — <br /> Sorry it's taken me so long to get back to you. Here are our responses to the questions posed in your January <br /> 21 email: <br /> 1. Orono's overall and financial commitment to the project. The Council and staff are working with <br /> Common8ond to determine what the City's financia!commitment to the CBC project wi/l be. The Council has <br /> provided letters of intent to Common8ond in support of their pending funding grant applications to <br /> Hennepin County. The Council is currently considering the various options for making the City property <br /> available for use by Commoneond. <br /> 2. What if anything Orono gains from the project. The Common8ond development will provide Orono with <br /> workforce housing that is affordable to many of the employees that work in and for Orono (such as <br /> teachers, nurses, retail workers, etc). In addition to providing an affordable community, the Common8ond <br /> development will help Orono move toward meeting the Metropolitan Council's density goals. <br /> 3. If all of the property, ours included, would be rezoned and to what density. The City is currently in the <br /> process of updating its Comprehensive Plan. The property behind the fire station and your properties to the <br /> north and south of fhat site are being considered for reguiding to allow multi family residential use at a <br /> density of 10-15 units per acre. Such reguiding would allow for a rezoning to RPUD Residential Planned Unit <br /> Development which would accommodate this density. Common8ond's proposed development would meet <br /> the density requirements associated with this rezoning. The Comprehensive Plan update is anticipated to be <br /> completed in the next 60 days. <br /> 4. Does Orono intend to get an appraisal on their land? At this point in time the City has not ordered an <br /> appraisal for the land. Depending on the method ultimately chosen to make the site available for multi- <br /> family use, an appraisal may be obtained in the future. <br /> 5. We understand that there are some time constraints on the project, what are they? The time constraints <br /> related to the project are associated with the funding applications Commoneond must submit to various <br /> agencies in February and June, which are once-yearly application cycles. The City is not placing any rime <br /> constraints on this process. The City does not anticipate any problem providing the appropriate material <br /> needed for CommonBond's grant applications. It should be noted that an actual formal application for <br /> rezoninq and site plan approval, which would involve a public hearing process and review by the Planning <br /> Commission and City Council, cannot be commenced until the Comprehensive P/an update process is <br /> completed. <br /> Feel free to cal� or email if you have further questions. <br /> Mike <br /> i <br />