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City Council Meeting Retreat <br /> Tuesday, February 18, 2015 <br /> Page 15 <br /> how that led up to the right kinds of initiatives and programs relative to housing and <br /> neighborhood stabilization. <br /> Councilmember McGehee opined that if homestead housing fell, it was incumbent on <br /> staff to come up with a variety of programs to target specific neighborhoods. <br /> Mayor Roe opined that he did want to tamp down current trending toward rental <br /> housing versus home ownership for those just entering the housing market. Mayor <br /> Roe noted that rental housing values were trending consistently with non-rental single <br /> family homes at this time. <br /> Councilmember Willmus concurred that this was a trend, and that it was cyclable. <br /> However, Councilmember Willmus noted that it created management problems when <br /> housing stock intended for one use moved into another type of use; and confirmed <br /> that it was a proven fact that single-family properties tended to be more stable. <br /> Mayor Roe clarified that he was referring specifically to single-family rentals, not <br /> multi-family rentals. <br /> Mr. Rapp questioned if there could be a reversal in that trend and still have the com- <br /> munity experience declining property values; and whether property values were the <br /> indicator or if there was some other indicator of the market or attractiveness. <br /> Mayor Roe responded that if single-family properties were on the downward trend, <br /> the desire was not to have everything else trending up. However, Mayor Roe clari- <br /> fied that those choosing renting were just as attractive as Roseville residents as those <br /> owning housing stock. <br /> Mr. Rapp questioned if the next step in terms of market value would be programs in- <br /> cluding code enforcement and continued diversity in housing that fed into that attrac- <br /> tiveness model, which could perhaps still be achieved with another indicator. <br /> From a public safety standpoint, Mayor Roe suggested targeting residents continuing <br /> to be interested in rental property; and how to monitor that. <br /> Data-wise, Mr. Rapp suggested tracking valuation increases of owner-occupied <br /> homes compared to rental homes to keep them within a target range of each other, <br /> and based on observed deviations, push resources to one side or the other. <br /> Councilmember McGehee opined that she'd still be happier with some target tied into <br /> homestead, and referenced the recent Dale Street Project and neighborhood com- <br /> ments that they wanted owner-occupied stock surrounding them. <br /> Residential Housing Changes <br /> Targets: Homestead and rental; owner-occupied value, and rental value <br />