Madison Development Corporation is applying for a PUD-SIP rezoning of 437-439 and 441-443 W. Mifflin St., as well as a Demolition Permit for the existing structure at 441 W. Mifflin. This is a resubmission of the April 2005 application that was referred by the Urban Design commission in June of 2005.

The existing conditions and uses of the properties are two duplex apartment buildings. The structure at 437-439 W. Mifflin contains a 2 and 3 bedroom flat. This building is in serviceable condition. This property is occupied by rental tenants. The building at 441-443 W. Mifflin contains two 1 bedroom flats. This property is in unsound condition. It was damaged by a vagrant set fire in the basement, which damaged several joists and the boiler, as well as creating significant smoke damage.The building also has a sandstone foundation, 30 amp electric service, is not energy efficient, and the heating system needs total replacement. This building was also designated in the Project Plan for TIF 28 as underutilized and blighted. This building is vacant.

The new buildings will contain residential apartment units, including 2- 2 bedrooms, 2-3 bedroom and 2-4 bedroom units. 441 W. Mifflin will be replaced with two units consisting of 2 &bedroom units. The rear lot.which is currently a gravel parking lot will be replaced with a four unit building consisting of 2 2-bedrooms and 2 4-bedrooms. The 4 bedroom units will be rented at market rates of about $1900 per month. Two of the 2 bedroom units will be restricted to residents earning 60% or less of County Median Income (CMI) and two 3 bedroom units will be restricted to tenants earning below 60% of CMI. All restricted income 2 bedroom units will be rented for $975 per month and 3 bedrooms at $1 125 per month. The building will also provide 5 surface parking stalls, two of which will be handicapped. The property is about .25 of one acre, or 10;890 square feet. Both new buildings will be two and I12 stories. The residential floors in the front building will have 1188 square feet. The rear building will have 2130 square ft on the 1' floor and 3190 between the 2nd and 3rd floor. There are also exterior porches containing 424.7 square feet on the front building. We are leaving the front duplex at 437-9 W. Mifflin as is. It contains 1 - 2 bedroom rented at $775 and 1-3 bedroom rented at $875. These rents are affordable at 50% CMI

Source: Developer's Letter of Intent