Item Coversheet

*4.D.1.


Shakopee City Council
May 7, 2019


FROM:Michael Kerski, Director of Planning and Development
TO:Mayor and Council Members
Subject:
Resolution of support for application to Minnesota Housing by Shakopee Housing Group, LLC for Low Income Housing Tax Credits for 59 units targeting families at or below 60% area median income
Policy/Action Requested:

Adopt Resolution R20219-056 supporting the application

Recommendation:
Adopt Resolution R2019-056 supporting the application for Low Income Housing Tax Credits by Shakopee Housing Group, LLC for 59 units of targeted family housing serving those with incomes at 60% or below the Area Median Income.
Discussion:

Shakopee has several Low Income Housing Tax Credit development that are either under construction or approved and in the permitting phase including MWF's two building development adjacent to Target and the Willows by CommonBond at Windermere. 

 

The Core Crossing site would be located between the Marcus Theaters and Home Depot.  The proposed applicant is a LLC of the Sand Companies.  Sand is currently developing the Trio development in the same general area.

 

The proposed development would be mixed use with commercial on the first floor with residential above.  The development's location offers access to employment in the surrounding area including numerous retail locations including Sam's Club, Walmart, Home Depot and service locations such as Kindercare.  There are groceries available in the area at Aldi and Walmart. Because of the density of employment in the area, residents would have the opportunity to be able to walk to work.

 

Directly to the west of the proposed development is Willy McCoy's, which is under construction along with another retail/restaurant pad.

Budget Impact:
ATTACHMENTS:
Description
Resolution