Our projected allocation for 20 uh 27 is $1,78,9 and staff issued um an RFP um for these credits on June 11, 2026 uh with the deadline for submissions of July 23, 2026.

So if I could some So just to clarify this is sort of finishing what we started. We've already initiated funding this project.

I think that's really important to as folks as um projects are responding that they do uh they start at you know they we can only evaluate what they score for themselves too um and that supplemental documentation is needed upon the score. So someone could list a 10 there, someone could list a zero there, but they would have to provide justification for any point value that they assign.

Aftton View is located at um a few different addresses, but primarily at 365 Windsor Up Street South in District 1, Ward 7. The developer is Terrain Development Partners, and this is an acquisition and rehab of an existing building. There's 286 units and all of them will be 100% affordable at 60% of AMI with 268 units um that are reserved for project based vouchers.

So by removing those energy credits, renewable energy credits, we are using the funding to kind of put back directly in the building. Um so the residents and tenants will see the benefits of higher efficiency equipment rather than buying those credits that are oftent times outside of Minnesota and not a benefit to the residents.

chair and commissioners essentially this additional fee acts as a source So the project as is without this additional fee has a gap. So short of the H coming to the table with cash, it gets filled by the fee, it's probably deferred a good portion of it.

Thank you so much for being here. And then also, I will most likely follow up. I am very interested in the communication of this and I think I kind of shared that with you like the community engagement piece has to be pretty rock solid on this building and it has has had its challenges in the past about how information is translated from the owners to the residents and I just want to make sure that upon your plans and especially around the construction side that you're set up for success.

I'm projecting it would fall to 5.13%. We won't know what that percentage is until next March when the county finalizes all of the pay 27 taxes. And I'll just say that previously I had reported this as 4.6% a little bit uh a little more aggressive and I was double counting the two tiff districts that already descertified.

So that $2.43 million that would be released that would re uh that as that's estimated to result in a $10 decrease to the median valued home.

We have two of them that we are closing and we have um two more that will expire at the end of 2028 by their terms. Um so I I don't want to say we're turning the tap off, but we're turning the tap off. Um and these are not excess increments, the dollars that we have on hand to pull for affordable housing.

We genuinely are like the question I'll have for my colleagues and I'll leave us with where are we funding affordable housing when we're closing different avenues to be able to do that? And so I just want to add that for folks and also why I'm pressing really hard to talk about the housing trust fund transfers that are coming in and out of the HR.