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REQUEST FOR COUNCIL ACTION <br />I 4 son <br />‘■'"'"'•OHOIVO <br />DATE: October 9,2002 <br />ITEM NO: ^9 <br />Department Approval: <br />Nane RonMoorse <br />Title City Administrator <br />Adminfotrator Reviewed:Agenda Section: <br />City Administrator's <br />Report <br />Item Description: Options Regarding Making Units in the Dahlstrom Housing Development More <br />Affordable. <br />Staffhave met with representatives of Dahlstrom Development to discuss the potential for reducing <br />the cost of a number of condo and/'or townhouse units to a more affordable level, and ideally to a <br />level that would make them eligible for additional funding assistance. The planned price points for <br />the condos and townhouses are $225,000 and S315,000 respectively. Individual units will be priced <br />higher or lower depending on location, size, etc.(i.e. an end unit townhouse has a higher price than <br />a middle unit). The target price point that would make units eligible for additional funding assistance <br />is $199,000. <br />The developer has indicated he will target either two condo units and two townhouse units, or three <br />townhouse units, for the $199,000 price point, but this requires participation by the City in the form <br />of waiving development fees(i.e. sewer and water connection charges, park dedication fees, <br />stormwater trunk fees, and building permit fees. The development fees, allocated on a oer-unit basis, <br />are as follows: <br />■Sewer and water connection fees: <br />■Park dedication fee: <br />■Stormwater tnmk fee: <br />■Building permit/plan review fees: <br />Total <br />$3,500 <br />$3,250 <br />$1,400 <br />$2.000 <br />$10,150 per unit <br />Before we move any further in this process, it is important that the Council determine whether it <br />wants to work with the developer to provide a number of units at prices that are more affordable, <br />whether the prices should be reduced enough to make the units eligible for additional financial <br />assistance, and whether the City should reduce its fees to assist in providing lower cost units. <br />COUNCIL ACTION REQUESTED: <br />Motion to provide direction regarding the provision of a number of units in the Dahlstrom housing <br />development that are more affordable, and regarding the City ’s financial participation in this effort.