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    1.    
City Council Work Session
Meeting Date: 05/15/2018  
Subject:    Robinson Drive Apartment Proposal
From: Matt Brown, Economic Development Coordinator

INTRODUCTION
Staff requests Council feedback on a preliminary proposal for an apartment building on vacant land next to Wells Fargo on Robinson Drive.
DISCUSSION
At its April 10 work session, the Council considered a proposal for a mixed-income apartment project on a site currently owned by Shamrock Development next to Wells Fargo on Robinson Drive. Council members have requested an additional opportunity to discuss Duffy Development's proposal, which has since been reduced in size from 75 units to 65 units. This includes 9 one-bedroom units, 35 two-bedroom units, and 21 three-bedroom units. A total of 51 of the units would be affordable to households earning 60% of area median income and 14 would be market rate units. Duffy proposes to seek tax credits from the state and request TIF from the City to provide gap financing. Staff has completed a preliminary TIF analysis and it appears that the request is justified and the projected increment would fill the gap. A conceptual site plan of the proposed building, which would include underground parking, and photos of similar buildings Duffy has built are attached. Representatives from Duffy Development will attend the work session and provide additional detail. Provided the Council is interested in proceeding with the project, the Council would consider a resolution of support at its June 5 meeting prior to Duffy's submission of its state tax credit application. If the project is awarded tax credits, City land use and TIF approvals would follow in early 2019.
RECOMMENDATION
Staff requests feedback from the Council on Duffy Development's proposal.

Attachments
Location Map
Concept Plan
Project Photos

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