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05-29-18-R
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05-29-18-R
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5/31/2018 2:38:16 PM
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City of Arden Hills – 2040 Comprehensive Plan <br /> <br /> <br />Approved:, 2018 <br />7-13 <br /> <br />TABLE 7.8 – 2015 AFFORDABLE INCOME LIMITS <br />Affordability Income Limits <br />30% AMI and Below $26,000 <br />30% to 50% AMI $43,300 <br />50% to 80% AMI $65,800 <br /> <br />Source: Metropolitan Council <br /> <br />TABLE 7.9 – 2015 HOUSEHOLD INCOME <br />Income Range Households <br />$24,999 and Below 289 <br />$25,000 - $44,999 381 <br />$45,000 - $74,999 714 <br />$75,00 and Above 1,640 <br /> <br />Source: U.S. Census Bureau <br /> <br />TABLE 7.10 - 2015 AFFORDABLE HOUSING UNITS AND 2015 HOUSEHOLD INCOME <br />Affordability Total Housing <br />Units1 <br /> <br />Households (Pro-Rated)2 Excess Housing Units <br />30% AMI and Below 318 302 +16 <br />30% to 50% AMI 384 334 +50 <br />50% to 80% AMI 790 500 +290 <br />AMI = Area Median Income <br />Source 1: Metropolitan Council 2015 Housing Stock <br />Source 2: WSB Pro-Rated from U.S. Census Bureau <br /> <br />7.5.2 2021-2030 Affordable Housing Allocation <br />Thrive MSP 2040 states that communities must guide a sufficient amount of land <br />at minimum densities to provide opportunities for affordable housing to be <br />developed. Communities have two options to provide this density: Option 1 is to <br />guide sufficient land at a minimum of 8 dwelling units per net acre (du/ac), and <br />Option 2 is to guide sufficient land at a minimum of 12 du/ac for the affordable <br />housing allocation of 50% AMI and below and sufficient land at a minimum of 6 <br />du/ac for the affordable housing allocation between 51% and 80% AMI. Arden <br />Hills has proposed to use Option 2 to achieve the affordable housing allocation. Draft 04/04/2018
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