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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 />Identified Need Available Tools Circumstances and Sequence of Use <br />Allocation of Affordable <br />Housing Need between <br />51% and 80% AMI: 314 <br />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 element. <br />TIF We will consider TIF for housing proposals of this type if they are <br />part of a mixed income development with at least 20% of new <br />units being affordable at 60% AMI. <br />Tax Abatement We will consider Tax Abatement for housing proposals of this <br />type if part of a mixed income development with at least 20% of <br />new units being affordable at 60% AMI. <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 between 51 and 80% AMI in any residential <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. <br />Super RFP We would strongly consider supporting/sponsoring an <br />application to Super RFP programs for housing affordable at 51- <br />80% AMI in any residential locations of our future land use map <br />in a mixed-income proposal with at least 20% affordable at 60% <br />AMI. <br />Housing Bonds We do not plan on issuing Housing Bonds to support this type of <br />housing development. <br />Site Assembly We would strongly consider supporting/sponsoring an <br />environmental clean-up grant application for housing affordable <br />at 51-80% 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 any residential locations of our future land use map for <br />a mixed-income proposal with at least 20% affordable at 60% <br />AMI. This could include acquiring and holding land, as well as <br />sub-allocating such monies to a qualified developer approved by <br />our City Council. <br />Site Assembly We will actively participate in the Twin Cities Land Bank’s <br />‘First Look’ program and attempt to strategically acquire any <br />foreclosed properties that are guided at the two highest density <br />land uses and represent a reasonable location to expect housing <br />of this type to be developed by 2030.
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