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City of Arden Hills – 2040 Comprehensive Plan <br /> <br /> <br />Approved:, 2018 <br />7-20 <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. <br />Dr <br />a <br />f <br />t <br /> <br />03 <br />/ <br />0 <br />7 <br />/ <br />2 <br />0 <br />1 <br />8