HomeMy WebLinkAboutRes.3429.09-07-2021 BILL NO. 21-134 RESOLUTION NO. 30,., !
A RESOLUTION OF SUPPORT FOR THE PROPOSAL FROM
MACO DEVELOPMENT COMPANY, L.L.C. , FOR THE
HERITAGE MANOR APARTMENTS HOUSING DEVELOPMENT,
IN THE CITY OF CAPE GIRARDEAU, MISSOURI
WHEREAS, MACO Development Company, L.L.C. , is proposing to
upgrade and remodel the property at 1224 Linden Street for a
senior housing and assisted living facility; and
WHEREAS, MACO Development Company, L.L.C. , wishes to apply
for financing and tax credits available through the Missouri
Housing Development Commission as stated in the 2021 MHDC Multi-
Family Rental Production Program Notice of Funding Availability;
and
WHEREAS, the financing and tax credits available through
the Missouri Housing Development Commission will provide the
financial resources to develop this facility with affordable
housing; and
WHEREAS, the financing and tax credits available through
the Missouri Housing Development Commission are limited and
competitive resources; and
WHEREAS, the City of Cape Girardeau, Missouri, recognizes
the need for safe, affordable, quality senior housing, and
supports the proposal from MACO Development Company, L.L.C.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY
OF CAPE GIRARDEAU, MISSOURI, AS FOLLOWS :
ARTICLE 1 . The City Council hereby expresses its support
for the proposal from MACO Development Company, L.L.C . , for the
2021 MHDC Multi-Family Rental Production Program Notice of
Funding Availability, for the Heritage Manor Apartments housing
development .
PASSED AND ADOPTED THIS ri DAY OF iI liL 2021 .
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Bob ox, Mayor _ r/ \
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g ruce Tayl , Deputy City Clerk '4'#q PA.
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MACO Development Company, L.L.C.
Heritage Manor
1224 Linden Street, Cape Girardeau, MO 63703
1. Brief description of property location and surrounding area.
Heritage Manor is a 44-unit senior complex that is located in south Cape
Girardeau. It is bordered on the north by a vacant wooded area. To the east, it is
bordered by other multifamily developments. To the south, the property is
bordered by the Cape Girardeau Public Health Center and East Missouri Action
Agency. Across West End Blvd to the west, the property is bordered by the
Shawnee Park Athletic facility which consists of several acres of baseball/softball
and soccer fields.
2. Type of property (family/elderly).
Elderly
3. Indicate type of financing structure the property is currently operating under.
HOME/Tax Credit
4. Indicate proposed funding structure under the new application.
Federal and State LIHTC and HOME or NHTF
5. Indicate the number of units, unit mix and provide description of unit types (1 Br/
2 Br/3 Br).
40 Units— 1 BR—720 sq ft
4 Units—2BR—830 sq ft
6. Brief description of common areas including exterior/interior.
The property has limited common area space. Included on the site is a 1,053'
community building that includes laundry facilities, small community room with
kitchenette and restroom, and maintenance/storage room. The community
building does not include a management office since the adjacent property
(Rosewood) is also owned and managed by MACO and includes a management
office which is shared with the Heritage Manor facility.
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7. Brief description of current physical condition of property.
While the property has been well maintained since it's inception, it is now
approximately 26 years old and in need of upgrades to the cabinets, flooring,
appliances, HVAC systems, etc. The exterior "shell" is predominately brick and
has aged nicely, but the interior of the units are very "tired".
8. Brief description indicating if the property is ADA compliant.
While some accessibility modifications have been made at the site (ie. sidewalk
ramps, grab bars, etc.), many additional accessibility design modifications will be
necessary. We will work closely with the project architect to ensure that all
necessary design modification are incorporated into the project plans so that the
property will meet all applicable accessibility laws.
9. Brief description of any services the property is or is planning to offer to
residents.
MACO will obtain commitments from a Lead Referral Agency which will refer
special needs households qualified to lease 15% of the units and from local service
agencies which will provide a network of services capable of assisting each type
of special needs population defined. Additionally, MACO will elect to qualify this
property under the Service Enriched Priority providing services that meet the
parameters.of Housing Stability, Increased Income and/or Employment, Physical
and/or Mental Health, Quality of Life, and Social and Community Connection.
10.Provide any drawings that show layouts of the site/ layout of the units.
Drawings attached
11.Provide pictures or video showing current condition of property—photos
attached.
• Views of building front/back/sides
• Views of kitchen/bathroom/bedroom
• Views of utility closet w/furnace/hot water tank
• View of electrical service panel
• Views of interior common areas-hallways/stairways/meeting
rooms/laundry room/offices
• View of problem areas
• Views showing entry to property from major street, parking lot , property
signs, walkways, outdoor common areas
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12.Briefly, provide a proposed scope of work describing improvements to be made to
the units, common spaces and exterior of the property. Note: This scope is not the
actual scope of work that will be required at the time of application submission.
Please be brief.
Interior modifications will include new floor coverings, cabinets/countertops,
energy efficient appliances, doors, windows, HVAC systems (note: currently the
project has through the wall PTAC units in each residential unit), water heaters,
plumbing and electrical fixtures, paint, as well as any necessary accessibility
modifications.
Exterior modifications will include metal roofs, exterior doors, gutters/downspouts,
siding, concrete repairs, site lighting, landscaping, and an outside gathering/picnic
area for residents to enjoy.
Also, we intend to reconfigure the current space in the community building to
include a place for services and add a maintenance room on to the existing
community building.
13.Brief summary of planned budget to make improvements.
While underwriting is still in the preliminary stages, by utilizing Federal and State
LIHTC and either MHDC Fund Balance or National Housing Trust Fund resources,
it is anticipated that the construction budget for the rehab and modernization of
Heritage Manor will provide approximately $45,000 per unit in hard costs. Due to
the current volatility in the construction market, these costs may increase as the
underwriting is finalized and submitted to MHDC.
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