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CMP Part 3C. Housing Plan <br /> <br /> <br />City of Orono Community Management Plan 2020-2040 Part 3C, Page 17 <br />of providing the services. The city will closely monitor expenses as they relate to <br />project review to ensure fees closely match expenses. <br />10. Zoning and Subdivision Policies: The City frequently grants variances and adjusts <br />its zoning and subdivision regulations through a planned unit development (PUD). <br />The City currently provides zoning incentives such as increased density and <br />potential staging plan flexibility for projects which achieve the city’s housing goals. <br />11. 4(d) Tax Program: The 4(d) tax program provides a 40% tax credit to property <br />owners of affordable housing, to be leveraged with local government financial <br />assistance. <br />6. Land Trusts: A land trust achieves affordable home ownership by owning the land <br />on which a house is located, allowing the resident to seek financing only on the <br />house. The resident enters into a long-term lease for the home. The advantage of a <br />land trust is that the largest contributor to housing prices in Orono is the land, and <br />the land trust removes that cost from the purchasing equation. The trust can control <br />the future sale of the property to ensure that affordability can be maintained and <br />have the ability to scatter the land trust sites throughout the community. The <br />disadvantage of a land trust is that it will take significant financial resources to <br />purchase the land rights and those resources are never recovered during the period <br />that the property remains affordable. Orono may evaluate if joining the West <br />Hennepin Affordable Housing Land Trust is the most efficient way to use its <br />resources to provide affordable housing. <br />7. Site Assembly: The City or other agencies assist with the acquisition of parcels. <br />The City may partner with potential developers by selling developable land it owns, <br />the city is not likely to acquire land for the purpose of transferring ownership for <br />developers. <br />8. HOME Investment Partnership: The City will consider partnering with Hennepin <br />County for grants that provide rental assistance for senior housing projects. <br />9. Effective referrals. We will review our internal procedures to refer residents to <br />applicable Hennepin County, State of Minnesota, and private utility programs that <br />assist homeowners and prospective homeowners. <br />10. Fair housing policy. The City will continue to review its housing polices to ensure <br />that they meet or exceed applicable Fair Housing Laws and regulations, in <br />particular in the areas of Race/ Color, gender, National Origin, Religion, Family <br />status, and disability. <br />11. First time homebuyer down payment assistance. The City will support a <br />homebuyers application for down payment assistance, especially where existing <br />these purchases are within the existing housing stock to support use of a mix of <br />housing types, cost ranges, and locations. <br />12. Participation in housing related organizations. The City will continue to recognize <br />and promote the work outside organizations do toward the betterment of housing <br />opportunities for Orono residents. <br />13. Rental licensing and inspections. The City employs a Rental Licensing program <br />intended to identify rental landlords and capture up to date contact information to <br />address concerns related to overcrowding, maintenance, and noise impacts. <br />14. Low interest rehab programs. The City will support a property owner’s application <br />for low income rehab dollars for those projects that serve to retain existing housing <br />stock.