6D(19) Staff report: off site improvement to support proposed senior housing dev.

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Off Site Improvement, Amenity and Facility Investment 10 points will be awarded if a third party (foundation, trust, government entity, or private corporation) investment of resources is provided that will result in off -site infrastructure improvements adjacent to the project site, and /or the development of parks, green space and shared amenities, recreational facilities and improvements adjacent to the proposed project site that will serve the tenant base for the subject project. The proposed improvements , amenities, and /or facilities must be completed prior to the proposed placed in service date for the project. The development cost and source of funding associated with the development of the improvements, amenities and /or facilities must be mutually exclusive of the development cost and sources of funding for the subject property. The cost for the improvement must be at least $100,000 and be paid for in full by the unrelated third party. Examples of third party improvements, amenities, and facility investment of resources include, but are not limited to, the following: i. Construction of off -site or on -site access road which is required for access to the property, ii. Reconstruction of existing roads and streetscapes, iii. Reconstruction of vacant or blighted land with new infrastructure that promotes comprehensive revitalization such as new residential blocks and streets, iv. Development of parks, green space or walking trails on a master plan development site, v. Development of community centers or similar facilities that promote cultural, educational, recreational, or supportive services for a community, vi. Construction of sidewalks or streetscape adjacent to the property, vii. Construction of shopping or retail center adjacent to the property. Third party investments that will be developed regardless of the proposed development will not be eligible for points in this section. Required Documentation: Place all documentation in Tab P. L Conditional commitment of funds, ii. Detailed source and uses of funds, iii. Timeline for completion, iv. Map showing location and description of improvements to the site, v. A narrative, which includes how the investment will benefit the tenants. October 12, 2010 Jacob Sipes, Director of Tax Credits Indiana Housing & Community Development Authority 30 S. Meridian St., Suite 1000 Indianapolis, IN 46204 Re: Heritage Place at LaSalle Sauare Dear Mr. Sipes; It is my pleasure to write a letter and provide the associated documentation in support of the Heritage Place at LaSalle Square proposal submitted to the Low Income Housing Tax Credit Program by Heritage Place at LaSalle Square Apartments, LLC. This letter is to demonstrate a conditional commitment of funds by the South Bend Redevelopment Commission, the sources and uses of the funds, and a timeline of completion in relation to off -site improvements. The City of South Bend's Redevelopment Commission amended a Tax Increment Finance District boundary to include the Square, and a significant community -based