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Summary Report: Page 5 ^ Determining Affordable Housing Need in the Twin Cities 2011 — 2020 Affordable Housin Stock: This report's need allocation methodology also considers a community's existing supply of affordable housing, giving credit to those communities that supply higher levels. This measure estimates the existing share of a community's housing stock that is affordable using Minnesota Department of Revenue data on 2004 market values, Census 2000 rent levels, and Metropolitan Council data on 2004 manufactured housing units 4 • Transit Service Level: A final factor considered in allocating affordable housing need is the level of transit service (destinations and frequency) in a given community. Low- income households are more sensitive to transit services than middle- and upper-income households, and locating affordable housing near transit opportunities is a public policy goaL The methodology in this report makes adjustments based on a classification of transit service available in communities, as expressed by one of four levels: 1= regular, frequent transit service to many points all through the day (only Minneapolis and St. Paul fall in this category) 2= a frequent amount of service, but limited destinations (mostly inner-ring suburbs in this category) 3= some transit service, but very limited in frequency and destinations (many .—. second- and third-tier suburbs in this category) --. 4= no regular transit service Strengths of This Methodolo�ical Approach The methodology employed by the advisory panel for this report has the following strengths: • The a�.praach is consistent with the work completed for The Next Decade ofHousing in , Minnesota, a key planning document used to forecast affordable housing need across Minnesota. The Next Decade report has been widely accepted by policymakers, and many housing stakeholders are basing affordable housing planning on its results. This report follows key methodological approaches and employs specific production assumptions from The Next Decade study. The Next Decade study was sponsored by the Metropolitan Council, the Minnesota Housing Finance Agency (MHFA), Family Housing Fund (FHF) and Greater Minnesota Housing Fund (GMHF). • Metropolitan Council household �rowth forecasts provide the basis for need allocation in this studv. These forecasts are determined through a collaborative effort between local government and Metropolitan Council staff to identify growth areas and to quantify reasonable market expectations, land capacity, and systems capacity. They, therefore, are the strongest forecasts of future household growth by community. Prepared by an Advisory Panel to Metropolitan Council Staff � ,.�