11-19-2018 Planning Commission Packet

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CMP Part 3C. Housing Plan Affordable housing Table 3C-7 shows the current(2016)number of households with incomes 80%of the AMI,or less. These 639 households represent 21% of the total households in Orono. According to the Metropolitan Council,there are 315 households within Orono that are at or below 30%of the Area IA -:. . . . .... ALA • .. . . . - - • . .. . •- . - 0. . •• . ..- households observed during the 2010 Census. We consider this the supply of housing units that are affordable. Tablle3 :' Affordable' ousm; Currently Projected (2016) need 2021- 2030 Income at or below 30%of AMI 78 69 Income 31-50%of AMI 76 56 Income 51-80%of AMI 485 29 Totals 639 154 Households Owner 14aus-eholds . . o • „ 167 income 3 1 50%o f AAAI .199 Income 51 80%of AMI 7-8 Source:Metropolitan Council Table 3C-7 also illustrates Orono's share of additional affordable homes for the 2021-2030 decade. Orono intends to provide opportunity for these units in the form of 15.4 acres of development at densities higher than 10 units per acre. Table 3B-4 predicts all developable properties within the sewered area. 63.4 acres are identified for development at densities greater than 10 units per acre. Table 3C-8 shows the number of costs burdened households, households whose housing costs are at least 30%of their income. We consider this the demand of affordable housing. The demand of affordable housing, at 30% or less of the AMI is almost double the supply. Conversely, though, the supply of housing affordable to those at 51-80%of the AMI is over 4 times the demand. Based on these calculations and estimates, the greatest need of housing is for incomes at or below 30% of the AMI. Table 3C-8 Cost Burdened Households At or Below 30%AMI 148 Between 31%and 50%AMI 64 Between 51%and 80%AMI 104 Total Units 316 City of Orono Community Management Plan 2020-2040 Part 3C, Page 11