1.A Arden Village Workforce Housing Concept

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AIternative to New TIF District The City currently has two active TIF districts: District 2 - Round Lake Office park and District 3 - Cottage Villas of Arden Hills. District 3 is set to decertify on December 31, 2009, with an anticipated fund balance of approximately $95,000. These funds can only be used for "low to moderate income housing." The Council could extend the district to December 31, 2019, with a plan modification. The projected increment for this district is estimated to be $45,000 annually, which would be approximately $450,000 for the extended period. The total projected balance available for use in low to moderate income housing would be $545,000. Although the district may produce $545,000, the City could limit the amount used to the requested $400,000. The remaining balance could potentially be used for other low to moderate income housing projects. Staff has requested information from the City's financial consultant about the process that would need to be used to extend the district an additional ten years. A detailed financial analysis has not been completed since this is still the concept stage. The City had considered using these funds for affordable housing on TCAAP; however, the district will decertify before there is any opportunity to use them on TCAAP. Comprehensive Plan and Rezonin The Future Land Use Map in the 2030 Comprehensive Plan designated this property as "Utility" due to the existing communications antenna. The Utility land use was defined as, "Public or private land occupied by a power substation, water tower, municipal well, pumping station, or similar use." The property is currently zoned 1-1, Limited Industrial District. The Utility land use and the I-1 zoning do not include provisions for housing. A Comprehensive Plan amendment and rezoning would be required for this proposal. The Comprehensive Plan amendment to the Future Land Use map could involve modifying the existing "High Density Residential (HDR)" used in the Plan or creating a new land use category. HDR is currently defined as, "apartment and townhome land use category providing for densities of nine to twelve units per acre." Examples of properties in the HDR land use category include Parkshore Apartments and Hunter's Park condominiums. If used on this property, the HDR definition would need to be amended to allow for about 22 units per acre to accommodate the proposal. Instead of modifying the HDR category, a new residential category could be created. Once the Comprehensive Plan is amended, the property would need to be rezoned. As noted, the existing I-1 zoning does not include housing as a possible use. If rezoned, the most applicable zoning classification would be R-4: Multiple Dwelling District. Although the R-4 zone does not completely match the proposal or density, the Planned Unit Development (PUD) process could allow for some variation. Alternatively, a new Zoning District that is similar to the R-4 district City of Arden Hills City Council Work Session for August 17, 2009 C.-Documents and Settingslbecky.brazyslLocal SettingslTemporary Internet Files OLKI5f'1081709 -CC Memo -Arden Village -Sand Companies.doe Page 3 of 4