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08-21-17-WS
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08-21-17-WS
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Continue to next page <br />PROJECTED HOUSING NEEDS <br />Identified Need Available Tools Circumstances and Sequence of Use <br />Allocation of Affordable <br />Housing Need below <br />30% AMI: 239 units <br />Guiding land at densities <br />that support affordable <br />housing <br />See our future land use plan and projected housing needs <br />section of the housing chapter of this comprehensive plan. <br />TIF We would consider TIF for proposals of this housing type in <br />the locations guided at the appropriate densities and land use <br />categories as shown on our future land use map. <br />Tax Abatement We would consider tax abatement for proposals of this housing <br />type in the locations guided at the appropriate densities and land <br />use categories as shown on our future land use map. <br />CDA We will coordinate with the Valley Heights Community <br />Development Agency to best align their resources with this <br />stated need. We will review our implementation plan on an <br />annual basis, beginning in 2020, with the Valley Heights CDA to <br />ensure we are utilizing their resources most effectively. <br />Local Funding Resources: <br />LCDA <br />We would strongly consider supporting/sponsoring an <br />application to Livable Communities Account programs for new <br />housing affordable at less than 30% AMI in the highest density <br />locations of our future land use map. <br />Local Funding Resources: <br />CDBG <br />We do not plan on using any allocated CDBG funds for this <br />housing type specifically, but competing projects seeking CDBG <br />funding would be prioritized if they also met this need and are in <br />the highest density locations of our future land use map. <br />Local Funding Resources: <br />HOME <br />We will explore with Valley Heights County the application for <br />HOME funds to address this housing type. We will document this <br />exploration and its results by 2023. <br />Super RFP We would strongly consider supporting/sponsoring an <br />application to Super RFP programs for housing affordable at less <br />than 30% AMI in the highest density locations of our future land <br />use map. <br />Housing Bonds We would consider issuing Housing Bonds to support this <br />housing type in our highest density locations of our future land <br />use map. <br />Site Assembly We would strongly consider supporting/sponsoring an <br />environmental clean-up grant application for housing affordable <br />below 30% AMI. <br />Site Assembly We would strongly consider using any awarded funds, including <br />but not limited to the programs described above, to assemble <br />a site in the locations identified in our future land use map for <br />this housing type. This could include acquiring and holding land, <br />as well as sub-allocating such monies to a qualified developer <br />approved by our City Council. <br />Site Assembly We will continue to actively participate in the Twin Cities Land <br />Bank’s ‘First Look’ program and attempt to strategically acquire <br />any foreclosed properties that are guided for high densities and <br />represent a reasonable location to expect housing of this type to <br />be developed by 2030.
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