Apartments under $1400 in Woodbury, MN | RentCafe Act means Minnesota Statutes, Chapters 462C, 462A and 474A, as amended. Enforcement 14 Section 15. For move-in, this should be the move-in date. This section is not intended to create any additional duties to inspect records. The perfect choice for those looking for a quality apartment or townhome at an affordable price. All notices to be given pursuant to this Regulatory Agreement shall be in writing and shall be deemed given when sent by unsecured e-mail, facsimile transmission or other similar unsecured electronic methods or when mailed by certified or registered mail, return receipt requested, to the parties hereto at the addresses set forth below, or to such other place as a party may from time to time designate in writing: To the Governmental Lender: Housing and Redevelopment Authority in and for the City of Woodbury, Minnesota 8301 Valley Creek Road Woodbury, MN 55125 Attention: Executive Director Telephone: 651-714-3500 To the Fiscal Agent: U.S. Bank Trust Company, National Association Global Corporate Trust 60 Livingston Avenue, Third Floor EP-MN-WS3C Saint Paul, MN 55107 Attention: Martha K. Earley Email: martha.earley@usbank.com Telephone: (651) 466-6303 To the Funding Lender: Deutsche Bank Securities Inc. 5022 Gate Parkway, Suite 200 Jacksonville, Florida 32256 Attention: Abigail Carras Email: abigail.carras@db.com Telephone: (212) 250-8970 To the Borrower: Woodbury Leased Housing Associates III, LLLP c/o Dominium Development & Acquisition, LLC 2905 Northwest Boulevard, Suite 150 Plymouth, MN 55441-7400 Attention: Owen C. Metz Email: ometz@Dominiuminc.com Telephone: (763) 354-5500 With copies to: Winthrop & Weinstine, P.A. 9. Restrictions on sale or transfer of the Project or of any interest in the Borrower, Governmental Lender and/or Fiscal Agent consents, transferee agreements, transferee criteria and requirements, opinion requirements, assumption fees, transfer fees, penalties and the like shall not apply to any transfer of title to the Project to the Funding Lender or to a third party by foreclosure, deed in lieu of foreclosure or comparable conversion of the Project Loan or to any subsequent transfer by the Funding Lender following foreclosure, deed-in-lieu of foreclosure or comparable conversion of the Project Loan. County means Washington County in the State. Notwithstanding anything to the contrary contained in this Section 6, the rental rates of all units in the Project for which project-based federal assistance payments will be made under a Section 8 Housing Assistance Payment Contract, are deemed to be within the rent limitations of Section 474A.047, subdivision 1(a). The Governmental Lender and the Fiscal Agent acknowledge and agree that the exercise of any rights and remedies under the Regulatory Agreement is subject to the provisions of the Project Loan Documents. The Borrower shall make no changes to the Project or to the operation thereof which would affect the qualification of the Project under the Act or impair the exemption from federal income taxation of the interest on the Governmental Notes. Orville Commons - Dominium Section 23. City means the City of Woodbury, Minnesota. For move-in, it is recommended that the Tenant Income Certification be signed no earlier than five days prior to the effective date of the certification. Term 13 Section 13. Housing and Redevelopment Authority Meeting Agenda - Woodbury, MN The terms, covenants and restrictions of the Regulatory Agreement, other than those set forth in Sections 3 through 5, are and shall at all times remain subject and subordinate, in all respects, to the liens, rights and interests created under the Project Loan Documents. Section 17. (b) Pursuant to the Act, one hundred percent (100%) of the units in the Project will be occupied or held for occupancy by Tenants whose income, on average, is fifty percent (50%) or less of Median Income for the Area. The Governmental Lender and the Fiscal Agent shall be under no duty to make any investigation or inquiry as to any statement or other matter contained or referred to in any documents or any instruments delivered to it in accordance with this Regulatory Agreement, but may receive and accept the same as conclusive evidence of the truth and accuracy of such statements. Such Income Certification shall be obtained prior to initial occupancy. RECITALS The Governmental Lender is authorized to issue tax-exempt and taxable obligations to provide financing for multifamily housing developments in accordance with the terms of Minnesota Statutes, Chapters 462C, 462A and 474A, as amended (the Act). 1,713 Accessible Apartments for rent in Woodbury, MN Notary Public Execution page of the Fiscal Agent to the Amended and Restated Regulatory Agreement. Tax Exempt If the property participates in the Tax Exempt Bond program, mark the appropriate box indicating the households designation. Website. These provisions shall survive payment of the Governmental Note and termination of this Regulatory Agreement. Map - Washington Far Eastern . The Borrower will apply or has applied such proceeds to: (i) refund on the Series 2021 Delivery Date (as defined in the Funding Loan Agreement) the Governmental Lenders Multifamily Housing Revenue Note (Woodbury Family Apartments Project), Series 2019 (the Prior Note), issued by the Governmental Lender on November 26, 2019 in the original aggregate principal amount of $6,008,618 to finance a portion of the costs of the acquisition, construction, and equipping of the Project; and (ii) finance additional costs of the Project through the issuance by the Governmental Lender of the Governmental Notes. On the adjacent line, enter the number of household members from the move-in certification. Orville Commons has rentals available ranging from 723-1834 sq ft. . DEVELOPMENT DATAProperty Name: Orville Commons Address: _____________, Woodbury, MinnesotaCounty: Washington Unit Number: ________________BIN #: _______________ # Bedrooms: ___________ PART II. Qualified Residential Rental Project 6 Section 4. Notary Public Execution page of the Borrower to the Amended and Restated Regulatory Agreement. Severability. Tax Credit FORMCHECKBOX b. Column (A) Enter the annual amount of wages, salaries, tips, commissions, bonuses, and other income from employment; distributed profits and/or net income from a business. Apartment & Condo Building 4290 Radio Drive, Woodbury, MN, United States, Minnesota (844) 656-1008 OrvilleCommons.FBInstagram.Dominium@aptleasing.info Income Status Income Status Income Status Income Status FORMCHECKBOX d" 5 0 % A M G I F O R M C H E C K B O X d" 6 0 % A M G I F O R M C H E C K B O X d" 8 0 % A M G I F O R M C H E C K B O X d" 0 I * * F O R M C H E C K B O X 5 0 % A M G I F O R M C H E C K B O X 6 0 % A M G I F O R M C H E C K B O X 8 0 % A M G I F O R M C H E C K B O X 0 I * * F O R M C H E C K B O X d" 5 0 % A M G I F O R M C H E C K B O X d" 8 0 % A M G I F O R M C H E C K B O X d" 0 I * * F O R M C H E C K B O X _ _ _ _ _ _ _ _ _ _ F O R M C H E C K B O X _ _ _ _ _ _ _ _ _ _ F O R M C H E C K B O X d" 0 I * * * * U p o n r e c e r t i f i c a t i o n , h o u s e h o l d w a s d e t e r m i n e d o v e r i n c o m e (OI) according to eligibility requirements of the program(s) marked above. Section 4. Pet Friendly Apartments for Rent in Woodbury, MN - Zumper Adjusted Income means the adjusted income of a person (together with the adjusted income of all persons of the age of eighteen (18) years or older who intend to reside with such person in one Dwelling Unit), as calculated in the manner prescribed under Section 142(d)(2)(B) of the Code. Tools Posted on RENTCaf. Part VII Student Status If all household members are full-time* students, check yes. If at least one household member is not a full-time student, check no. If yes is checked, the appropriate exemption must be listed in the box to the right. Section 13. Promptly upon determining that a violation of the Regulatory Agreement has occurred, the Governmental Lender or the Fiscal Agent shall, by notice in writing to the Borrower, the Servicer and the Funding Lender, inform the Borrower, the Servicer and the Funding Lender that such violation has occurred, the nature of the violation and that the violation has been cured or has not been cured, but is curable within a reasonable period of time, or is incurable; notwithstanding the occurrence of such violation, neither the Governmental Lender nor the Fiscal Agent shall have, and each of them acknowledge that they shall not have, any right to cause or direct acceleration of the Project Loan, to enforce the Project Note or to foreclose on the Security Instrument. A Dwelling Unit occupied by a Low Income Tenant shall be deemed, upon the termination of such tenants occupancy, to be continuously occupied by a Low Income Tenant until reoccupied, other than for a temporary period (not to exceed sixty (60) days), at which time the character of the Dwelling Unit shall be redetermined. Limited Liability. The perfect choice for those looking for a quality apartment or townhome at an affordable price! Development partners include the City of Woodbury, Eagle Building, BKV Group, Loucks, Braun Intertec, Plummer Associates, Winthrop & Weinstine, Colliers, and Commercial Partner Title. Orville Commons, 4290 Radio Drive, Woodbury, MN, Apartments Restrictions Imposed by Chapter 474A 11 Section 7. Sale or Transfer. Orville Commons participates in the affordable housing program where income limits apply . The Commissioner of Minnesota Management and Budget may require the Governmental Lender to request individual certification of all residents of the income-restricted Dwelling Units. For the purpose of financing the acquisition, construction, and equipping of an approximately 235-unit multifamily rental housing development and facilities functionally related and subordinate thereto, comprised of one four-story apartment building with approximately 211 apartment units and approximately 24 townhome units in three two-story, eight-unit buildings with attached garages, to be located at the southwest corner of the intersection of Hargis Parkway and Radio Drive in the City of Woodbury (the City), County of Washington (the County), State of Minnesota (the State), on the real property described on EXHIBIT A attached hereto (the Land) and to be known as Orville Commons or another name selected by the Borrower, for occupancy by individuals and families of low and moderate income (the Project), the Governmental Lender has issued in accordance with the Act and the terms of Resolution No. The Borrower is duly authorized by the laws of the State to transact business in the State and to perform all of its duties hereunder. No transfer of the Project shall operate to release the Borrower from its obligations under the Regulatory Agreement. The Borrower hereby agrees that, following any foreclosure, transfer of title by deed in lieu of foreclosure, or similar event, if the Borrower or any such related person as described above obtains an ownership interest in the Project for federal tax purposes during the Qualified Project Period, the limitations imposed by Sections 4, 5 and 6 of this Regulatory Agreement shall apply to the Project for the remainder of the Qualified Project Period.