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HRA Meeting Minutes – Tuesday, May 21, 2013 Page 6 1 Ms. Bujold advised that renters were looking more for amenities within their individual units 2 (e.g. stainless appliances in brand new kitchens, full kitchen appliance packages, in-unit 3 washers/dryers, walk-in closets in bedrooms, or granite countertops) balanced with those 4 common area amenities such as a community gathering space, exercise rooms, rooftop decks, 5 or coffee bars . Ms. Bujold advised that architects had become very good with unit efficiencies 6 in providing a lot of amenities within units, with some units even having decreased in square 7 footages, but having a feeling of space through their design making that diminished footage 8 less evident. 9 10 Member Quam noted that, based on materials presented, at one time the HRA was concerned 11 with achieving more affordable units in Roseville; however, her concept now was that as 12 higher end products were introduced, those affordable units with older housing stock may 13 actually become the affordable option. However, Member Quam questioned if the affordable 14 option was still being entirely addressed and if more of those units were needed. 15 16 Ms. Bujold advised that she didn’t disagree with that perception, observing that the recent CDI 17 meeting, new housing developments would charge at 60% of median or qualify people at 50% 18 or up to 60% of median income depending on the amount of tax credits they get, putting a 19 minimum rent for a one-bedroom unit at approximately $850/month. If that new product was 20 compared with older products/housing stocks, Ms. Bujold noted that this would make them 21 affordable housing options, while still providing a higher level of amenities and new units 22 versus existing units currently available. 23 24 Chair Maschka clarified that the goal was described as work force housing and meeting 25 housing needs for teachers, and young people making around $35,000 per year, thus making 26 those proposed units affordable for them. 27 28 Ms. Bujold reviewed an average wage earner at $30,000 to $35,000 annually, with available 29 income of 30% of that income applicable for housing that would have them paying their 30 maximum amount of rent, making it affordable to a certain group of people, specific rent to 31 your level of income. Ms. Bujold advised that this provided specific rent for that income level, 32 able to afford that rent as a minimum, and their maximum income ceiling could not exceed that 33 to continue qualifying as affordable. 34 35 Chair Maschka concurred, noting that there was a significant distinction for affordable 36 housing. 37 38 Ms. Bujold noted that it often created affordable housing rents in brand new market rates 39 developments, due to the availability of tax credits, not requiring subsidies. 40 41 Chair Maschka thanked Ms. Bujold and Ms. Jansen for their presentation and discussion; and 42 noted that HRA would continue to evaluate options. 43 44 Ms. Bujold offered their availability in the future for any assistance needed. 45 46 Motion: Member Majerus moved, seconded by Member Lee to accept Comprehensive 47 Multifamily Housing Needs Analysis from Maxfield Research 48 49 Ayes: 5 50 Nays: 0 51 Motion carried. 52 53 10. Information Reports and Other Business (Verbal Reports by Staff and Board Members) 54 55 a. Business Expansion and Retention Program