DCPREZ-0000-05025 - Laserfiche WebLink

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per unit. 2. Reduce required lot size per unit from 2,000 square feet to 1,179 square feet. Approval, by the Board of Adjustments, was granted according to the following conditions. 1. 12 units can be rented to no more than two people. 2. 19 units can be rented to no more than one person. 3. The 2-bedroom unit can be rented to no more than three people. V Wisconsin Development Fund Funding to assist renovation of the subject property was included in the Town of Madison's 1991 Wisconsin Development Fund (WDF) application. Participation in the WDF loan program requires the subject property be rented to low and moderate income tenants. VI Experience The renovation of 881 West Beltline Highway will be Ripple Management's fourth project of this type. Past projects have been similar to the subject property with respect to style, unit size, and rent level. Last summer, Ripple Management completed a similar renovation project at 2810 Todd Drive. Like the subject property, 2810 Todd drive was an old motel experiencing occupancy problems due to physical obsolescence. In a joint effort with the Town of Madison, requiring 75% of the units be targeted to low and moderate income tenants, the building was renovated into 20 single room efficiencies and one 1-bedroom apartment. Currently, occupancy is 100%. VII Suitability and Need The subject property is ideally suited for conversion to residential housing. The typical renter is very cost conscious and tends to live alone. Included in this package is a group of letters, from the people listed below, supporting both the requested zoning changes and the proposed renovation. . Town of Madison, Thomas Solberg, Board President . State of Wisconsin, Dept of Administration, Deborah Thomas, Rental Program Coordinator . Access to independence, Tracy Miller, Housing Counselor . Options in Community Living, Amy Lutzke, Community Support Worker