THE RONDO COMMUNITY LAND TRUST

The rondo community land trust (rondo clt) created the rondo development on selby, llc. A subsidiary limited liability corporation for the selby milton victoria (smv) commercial land trust and senior housing project on selby avenue. Rondo clt, along with its partner community housing development corporation (chdc), developed two mixed use commercial/residential buildings. These buildings provide long-term affordable commercial space for small, local, and minority owned businesses along with affordable senior housing. The buildings are located at 852 selby and 940 selby in st. Paul. There are a total of 34 units of low income senior housing. The 34 units of affordable senior housing built on the top two floors of these buildings and were financed by a combination of deferred loans and low income housing tax credits. The units are affordable to those at 30% to 60% of the area median income. The affordability will be secured with restrictive covenants. There is 9,300 square feet of commercial space. There are five commercial spaces and two live work units. The housing portion of this project is owned by the chdc rondo limited partnership. Rondo development on selby llc is a cogeneral partner in this limited partnership.