09-11-1995 Council Packet - Laserfiche WebLink

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Fir^ Metropolitan livable C September 7, 1995 mme2or2 »11 M [unities Act Grants (for trails or reads), MUSA amendments, comprehensive plan amendments, etc.; as part of the Met Council ’s review it must consider whether the city is participating in the housing goals program. Affordability Standards An affordable single family home is determined by what would be affordable to a person at 80% of the median income of the Metropolitan Area. This translates to a home value of $115,000. An affordable rental unit is determined by what would be affordable to a person at 50% of the median income of the Metropolitan Area. This translates to a rental rate of $500.00 per month. Benchmarks The Met Council has developed benchmarks as guides for affordable housing goal setting. These benchmarks indicate the percentage of affordable housing in comparable cities, the percentage of non-single family detached housing, the owner versus renter mix, and density of single family and multi-family housing. The benchmarks for each city are an average for those cities of similar location and stage of development. For example the benchmarks for Orono are the average for all 3rd or 4th ring suburbs in the Metro Area and the average of all west Hennepin suburban cities. Each benchmark item has two numbers; the first, is the average for all cities in the metropolitan area that are in the same suburban ring as Orono. The second, is the average of all cities in the same sector of the Metro Area as Orono i.e. west Hennepin suburbs. Housing Goals Among the housing goals to be considered are maintaining the affordable housing we currently have, and providing life-cycle housing i.e. non-single family housing (townhomes) for "empty nesters" who no longer need or want a large house and lot but who want to remain in the area. Clustering Met Council staff has indicated that communities can "cluster" or work together to jointly meet housing goals. The cluster could involve one or several cities providing financial assistance to another city for constructing r maintaining •'ffordable housing. Flection Deadline November 15 Cities have until November 15, 1995 to elect to panicipate in the housing goals program for 1996. If a city does not elect to participate in 1996 they will have an opportunity to make this election by November 15, 1996 for the 1997 program. Prior to considering the election, it may be helpful to have a preliminary discussion with Met Council staff and/or with .Mary Hill Smith, Orono ’s Met Council representative; to clarify the program and requirements, and to get some insight into the Metropolitan Council ’s expectations regarding Orono ’s housing goals. # *1 tr.rrut. v i !.■/••»»» W ^