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2011-08-16_packet
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2011-08-16_packet
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12/20/2011 3:01:57 PM
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Commission/Committee
Commission/Authority Name
Housing Redevelopment Authority
Commission/Committee - Document Type
Agenda/Packet
Commission/Committee - Meeting Date
8/16/2011
Commission/Committee - Meeting Type
Regular
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REQUEST FOR HRA ACTION <br />Date: August 16, 2011 <br />Item No.: 9.b <br />Executive Director Approval <br />Item Description: Discussion of Roseville Affordable Housing (HF_0111) <br />B <br />ACKGROUND <br />At the last joint meeting between the RHRA and Roseville Council there was discussion <br />regarding the Metropolitan (Met) Council’s affordable purchase price of less than $160,000. <br />There was some concern that Roseville already has enough homes in that price range and that we <br />are meeting the requirements of the Met Council. In addition discussion occurred related to <br />rental housing in Roseville and the concern that as the demand for rental housing is increasing <br />the rents could possible rise. <br />Staff has attached information for the RHRA to review and discuss related to the housing in <br />Roseville and the values of single family homes and rental properties. <br />The Met Council has determined that a family of four earning 60% of the area median income <br />(AMI) can afford to purchase a house worth $160,250. The affordable rents for rental housing <br />are provided in Attachment A for 30%, 50% and 60% AMI. <br />The median value for housing in Roseville for 2010 was $204,300 with an average value of <br />$209,903 for all housing types. The median value of a single-family home was $214,200, <br />$189,100 for townhomes, and $93,700 for condos. With the exception of condos, the median <br />value of a housing unit remains above the affordability level for a household earning 60% of <br />AMI. It should be noted that condos may not provide a housing option for families of four <br />because of their size. <br />Affordable rents are when people pay less than 30% of their income for rent. Attachment A <br />shows affordable rents for the twin cities metro area. From the 2009 American Communities <br />Survey, 45.1% of the Roseville population pays over 30% of their income for rent. <br />Roseville has only 3 project based Section 8 buildings totaling 345 units. As of 2011, the <br />Roseville Inspections Department inspects 257 units of Section 8 assisted voucher units scattered <br />over 45 different properties in Roseville. These vouchers are portable within the metro area and <br />will fluctuate annually. <br />Roseville does have 3 income restricted multi-family rental properties totaling 313 units that rent <br />to people who make 60% or less of the area median income. Out of those 313 units, 118 have <br />section 8 rental voucher assistance <br />Page 1 of 2 <br /> <br />
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