10-13-25-WS - Laserfiche WebLink

Home Browse Search

Several policies also include provisions for the policy to apply if a certain threshold of new construction or rezoning is needed. For example, in Edina when a site is rezoned for a Planned Unit Development that includes at least 20 units, the policy applies. Several cities also offer the option for a developer to pay an "in -lieu" fee, where they pay a certain amount to the City in exchange for not including any affordable units in the project. In Edina, that city has generated nearly $9 million for its Affordable Housing Trust Fund through inclusionary housing. In Edina, a developer can either provide a certain percentage of affordable units or pay a per -unit fee to the city. Initially (2015) Edina's fee -in -lieu (or "total buy in) was $100,000 per unit but that proved to be too easy for a developer to pay. A recent change to the structure in 2022 raised that fee to $175,000 per unit. Since that study was completed, several other municipalities have adopted inclusionary housing policies, including Shoreview, which adopted a policy in 2022. According to the City of Shoreview's website, Through the City of Shoreview's Inclusionary Housing Policy, a proportion of each new multi family development must include units that are affordable to low- and moderate - income households and working families. If the new development is unable to include affordable dwelling units, they'll have to make a payment to the City instead, which supports the development of low-cost housing in other areas. Policies like these help slow the trend of rising home costs and create intentional space for low-income families to co- exist in the same neighborhoods as everyone else. Affordable housing plays a crucial role in promoting social and economic stability by providing individuals and families with access to safe, decent, and stable housing. It also contributes to community development, reduces homelessness, and supports economic mobility for those in need.' Shoreview's approach is similar to that of the other five municipalities described above. Recent projects that were constructed in Shoreview such as Loden SV, Emrick SV, and the Edison were all constructed before the policy was adopted. Those projects each received Tax Increment Financing. The policy (Attachment A) applies to any market rate multi -unit residential developments being built in Shoreview, and includes: a) New developments that create at least 20 multi -family dwelling units; or b) Substantial reconstruction or rehabilitation of an existing building that contains multi -family dwelling units that includes at least 20 dwelling -units; or c) Any change in use of all or part of an existing building from a non-residential use to a residential use that includes at least 20 dwelling -units. Enforcement is through a development agreement. The policy is very straightforward also identifies incentives such as density bonuses, reduction in minimum lot size, and reduction in provision of open space, among others. Also in 2022 the City of Shoreview adopted Ordinance 1002 (Attachment B), which applies to development of Affordable Housing in that city's R2 and R3 multiple -family zoning districts. It outlines in the city's code of ordinances, when and how affordable housing must be provided and includes related incentives. a https://www.thinkshoreview.com/news-and-events/p/item/56915/what-does-affordable-housing-really-mean. Accessed 10/7/2025. Page 6 of 9