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�� <br />� <br />� <br />� <br />� <br />� <br />� <br />.� <br />_� <br />:� <br />� <br />� <br />� <br />� <br />, <br />_.� <br />� <br />Cifir � Roseville, Minnesota <br />additional $1.5 billion in private investment, creating or retaining over 12,000 jobs <br />with new jobs averaging $12.72 per hour, and a net tax capacity increase in the <br />region of $29.2 million. <br />b) Livable Communities Demonstration Accourrt - Creating model smart <br />growth development <br />Wth an estimated 3.4 million people expected to live in the region by 2020, the <br />Metropolitan Council believes that the region must find smarter ways to grow, <br />preserve open space, protect valuable farmland, and decrease traffic congestion. <br />An increasingly popular choice is development and redevelopment that is <br />accessible to transit and has a mix of residential and commercial uses. <br />The Livable Communities Demonstration Account (LCDA) provides funding to <br />cities for model developments that create or enhance town centers, gathering <br />places and other destinations for community residents. Since 1996, the Council <br />has awarded 92 grants totaling $35.7 million to projects In 36 communities. The <br />grants have leveraged over $994 million in private investment and $396 million in <br />other public investment. <br />c) Local Housing Incentive Accourrt - Building affordable housing <br />The Metropolitan Council has stated that affordable housing choices are key to <br />economically healthy and livable communities. Cities have difficulty attracting <br />teachers, police officers, day care providers and other essential workers to <br />communities without housing choices for a mix of ages and incomes. The goal of <br />the Local Housing Incentive Account (LHIA) is to help expand affordable rental <br />and ownership housing for people at all stages of the life cycle throughout the <br />region. <br />Since 1996, the Council has awarded 70 grants totaling $11 million to help 45 <br />communities build or rehabilitate affordable housing. The grants leveraged $191 <br />million in total investment to develop 1,414 new rental units, including 995 <br />affordable to households with incomes lower than average and 195 Hollman units. <br />Other accomplishments include: <br />■ rehabilitation of 539 affordable rental units, <br />■ development of up to 434 new affordable ownership units, <br />■ rehabilitation of up to 219-237 affordable ownership units, and <br />■ home improvement loans to over 1,100 homeowners. <br />d) Inclusionary Housing Accourrt' Incentives to lower the cost of housing <br />According to the Metropolitan Council, area residents should have an option <br />regarding where to live and work and how to get around the region. The Council's <br />Inclusionary Housing Account provides funding for housing projects that include a <br />mix of housing types and prices and demonstrate cost reduction or cost avoidance <br />through regulatory incentives, such as density bonuses or waiver of availability <br />charges, made available by the local community for selected projects. <br />Using a one-time state appropriation, the council in 2000 awarded 11 grants <br />totaling $4.2 million to eight communities to develop 112 new affordable <br />condominiums and townhomes, and 475 new rental units. The funds leveraged <br />$106 million in investmentsfor the projects. <br />SPRlNGSTED Page 7 <br />