by Mike Knaak
editor@thenewsleaders.com
Plans for a 48-unit affordable housing apartment complex can move forward after the St. Joseph City Council approved the plan at its May 4 meeting.
The development is planned for tax-forfeited property at the former Delwin Ballroom location on 20th Avenue SE. The property, known as Liberty Pointe, was first platted in 2003.
As a part of the agreement, the city agreed to reduce the assessment by $25,000 to support affordable housing. To qualify for the assessment reduction, the developer must serve low- and moderate-income residents by maintaining gross rents on all units at 60 percent or less of the amount set by the Minnesota Housing Finance Agency for at least the next 20 years.
In addition, the city will reduce the developer’s special assessment for up to $70,000 to cover costs to install a private driveway to the property. The property is south of 20th Avenue SE and east of Dale Street.
The council approved the plan on a 4-1 vote with Brian Theisen opposing. The developer is Sand Company and construction could begin this summer.
In a related development issue in the same area, the council set a public hearing for May 18 on a plan to install a water main loop from south of the Army Reserve Center on 20th Avenue to Dale Street.
According to the city, the proposed improvement would support the short-term need to provide water service to the Liberty Pointe Outlot C development, as well as set the stage for future development to the east and southeast of the city.
The estimated cost is $358,600.
