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City of Arden Hills – 2040 Comprehensive Plan <br /> <br /> <br />Approved:, 2018 <br />7-11 <br />In December of 2014, the Metropolitan Council released a report entitled “Thrive <br />2040 Housing Policy Plan” The report not only forecasts the regional need by <br />2030 for newly constructed, affordable housing but it allocates each community’s <br />share of the regional need. The total need for newly constructed affordable <br />housing in the Twin Cities is estimated to be 37,900 units between 2021 and <br />2030.Each community’s share of the regional need is allocated based on a <br />number of factors. According to the Metropolitan Council, 33.2 percent of new <br />housing units in all cities should be affordable. Allocations are then adjusted by <br />the balance of low-wage jobs and workers and the and existing affordable <br />housing stock. Based on the formula, the Metropolitan Council has allocated a <br />need for 373 affordable housing units to Arden Hills between now and the year <br />2030. <br /> <br />Housing—along with food, clothing, transportation and medical care—is a <br />necessity. For many households, it is their largest monthly expense. When <br />households spend more than 30% of their monthly income on housing costs, <br />they are considered “cost-burdened.” The inability of households to find housing <br />they can afford has far-reaching effects. For example, a recent national report <br />found cost-burdened households (especially low-income households <br />experiencing cost burden) are forced to make cutbacks on food and health care <br />spending, undermining their overall well-being. <br />7.4.2.1 Existing Affordable Housing Need <br />While the Census Bureau does not report household incomes in the ranges <br />identical to the affordable income limits of the Metropolitan Council, Table 7.10 <br />represents an approximation of the number of Arden Hills households that fall <br />within the three AMI ranges. On a pro-rated basis, there is 302 households with <br />incomes at 30% of AMI and below, 334 households with incomes between 30% <br />and 50% of AMI, and 500 households with incomes between 50% and 80% of <br />AMI. <br />While initially the 237 cost burdened households with incomes of 30% of AMI or <br />below listed in Table 7.8 would indicate that Arden Hills would need more <br />housing units affordable at 30% of AMI, the 317 existing housing units affordable <br />at 30% of AMI exceeds the approximately 302 households in Arden Hills with <br />incomes at 30% AMI or below. What appears to be happening is that <br />households with incomes greater than 30% AMI are occupying housing units <br />Dr <br />a <br />f <br />t <br /> <br />11 <br />/ <br />0 <br />1 <br />/ <br />2 <br />0 <br />1 <br />7