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City of Arden Hills – 2040 Comprehensive Plan <br /> <br /> <br />Approved:, 2018 <br />7-19 <br />TIF is a useful tool to support the development of both rental and ownership <br />housing units affordable at 50% AMI or below. <br />7.5.5 Official Controls <br /> <br />Official controls and land use regulation can be used to assist in the construction <br />of affordable housing units. Controls and regulations can also be used to simplify <br />the process of expanding local housing options also. <br />Fee Waivers or Adjustments: Cities may waive or reduce fee to reduce the cost <br />of construction of affordable housing. Conversely, State rules require that the fee <br />that a city charges be related to the cost of providing the services for which the <br />fee are collected. This waiver or reduction could create a deficiency in the <br />funding for services which would be required the use of general funds to resolve. <br />Cities can develop a fee waiver or reduction policy to determine when the level of <br />affordable housing and the guaranteed length of affordability provide a public <br />benefit great enough to justify the reduction or waiver of development fees. Fee <br />waivers or adjustments are a useful tool to support the development of both <br />rental and ownership housing units affordable at 80% AMI or below. <br /> Zoning and Subdivision Policies: Cities have the ability to adjust ther zoning <br />and subdivision regulations through a planned unit development (PUD). Zoning <br />and subdivision regulation are created in part to mitigate the impacts that a <br />development may have on adjoining properties. When considering a PUD for <br />affordable housing, cities should determine when the level of affordable housing <br />and the guaranteed length of affordability provide a public benefit great enough <br />to justify the potential impacts that would result from a deviation in the zoning or <br />subdivision regulations. PUD is a useful tool to support the development of both <br />rental and ownership housing units affordable at 80% AMI or below. <br />4(d) Tax Program: The 4(d) tax program provides a 4% tax credit to affordable <br />housing developers. This program is administered through the Minnesota <br />Housing Finance Agency. Minnesota Housing Finance Agency can continue <br />administer the 4(d) tax program to provide affordable housing for those Arden <br />Hills residents in need. 4(d) tax bond funds are a useful tool to support the <br />development of rental housing units affordable at 50% AMI or below. Draft 04/04/2018