Laserfiche WebLink
City of Arden Hills – 2040 Comprehensive Plan <br /> <br /> <br />Approved:, 2018 <br />7-18 <br />housing practices should contact this organization. Arden Hills encourages the <br />Ramsey County CED to continue the implementation of its fair housing policy. <br />Local fair housing policy is a useful tool for the preservation of both rental units <br />affordable at 80% AMI and below. <br />Land Trusts: There is no established Land Trust serving the City of Arden Hills <br />currently. Should a Land Trust be established, the Rondo Community Land Trust <br />in St. Paul would be a good model to use. A land trust can be a useful tool for <br />both the development and preservation of ownership units affordable at 80% AMI <br />and below. <br />7.4.2.4 Fiscal Devices <br /> <br />Fiscal devices, such as revenue bonds, tax increment, financing, or tax <br />abatement can be used to help ease the construction and availability of <br />affordable housing in the City of Arden Hills. <br />Development Authorities: Arden Hills does not have its own Housing and <br />Redevelopment Authority (HRA) and depends on Ramsey County Coordinate <br />HRA for affordable housing and redevelopment services. Arden Hills <br />encourages Ramsey County to construct, finance and/or partner with private <br />developers to provide affordable housing for those Arden Hills residents in need. <br />Development authorities are a useful tool to support the development of both <br />rental and ownership housing units affordable at 50% AMI or below. <br />Housing Bonds: Minnesota State Statute allows HRAs the ability to issue <br />housing bonds to provide affordable housing. Arden Hills encourages the <br />Ramsey County HRA to issue housing bonds to provide affordable housing for <br />those Arden Hills residents in need. Housing bonds are a useful tool to support <br />the development of both rental and ownership housing units affordable at 50% <br />AMI or below. <br />Tax Abatement: Cities may issue bonds to be used to support the construction <br />of affordable housing and use a portion of the property tax received (tax <br />abatement) from the development to finance these bonds. This removes this <br />property taxes revenue from paying for the services needed for this property, its <br />residents and the community in general. Tax abatement is a useful tool to <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