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Goal. Develop and maintain a strong, vital, diverse and stable housing supply for all members of the community. To achieve this housing goal, the following policies are proposed: o Promote the development of a variety of housing options by preserving and increasing high- quality housing opportunities that are suitable for a mix of ages, incomes and household types. o Encourage the incorporation of affordable, life -cycle, and work force housing into new development and redevelopment where feasible. o Maintain the quality, safety, and unique character of the City's housing stock. o Preserve and strengthen the community's neighborhoods to maintain a high-quality of life for residents. o Encourage housing development and redevelopment that is complimentary to and enhances the character of the City's established neighborhoods. The full 2030 Comprehensive Plan can be downloaded at www.ci.arden-hills.mn.us/compplan. As part of the comprehensive planning process, the Metropolitan Council calculates target numbers for the construction of new affordable housing units in all cities in the seven county metropolitan region. The target number for Arden Hills is 288 new housing units by 2020 (this number assumed that a portion of the Twin Cities Army Ammunition Plant would be used for housing). The target number is calculated using a formula that considers such items as available land, population growth, and job proximity. Section 7.6 of the Comprehensive Plan Housing Chapter, Implementation Strategies, encourages the City to pursue grants or other opportunities that promote the construction of affordable housing. TIF is one of the tools that could be used to help the City achieve the target number for new affordable housing units. The City can only use the revenue generated by the TIF District for projects with the Development District shown in Attachment A. The Arden Village proposal to construct 55 affordable apartment units at 1296 County Road F, which is within the Development District, has requested TIF from the City to help finance the project. While the Arden Village request will still need to undergo a detailed financial analysis, the revenue from the TIF extension could be used for that project. Other eligible properties include future projects on the former City Hall site at 1450 West Highway 96 and in the B2 Zoning District. Recommendation Staff recommends the approval of Resolution 2009-001. Given the goals and policies in the 2030 Comprehensive Plan, it can be concluded that the proposed TIF extension is in conformance with the Comprehensive Plan. The 2030 Comprehensive Plan supports the creation of new affordable housing units, and this TIF extension is a tool that could help advance that goal. City of Arden Hills Planning Commission Meeting for December 9, 2009 \\Metro-inet.us\ardenhills\Planning\Economic Development\Business Subsidy & Public Financing\TIF\Cottage Villas\12-09-09 - PC Report - Cottage Villas TIF Extension Memo.doc Page 3 of 4