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L <br />� <br />� <br />� <br />� <br />8 <br />� <br />L� <br />I1 <br />a� <br />�� <br />1� <br />1� <br />I� <br />l� <br />L� <br />i'� <br />�� <br />�� <br />�� <br />23 <br />�� <br />�5 <br />�� <br />�� <br />�� <br />�� <br />3� <br />31 <br />3' <br />} <br />3� <br />.�� <br />35 <br />3� <br />3� <br />3$ <br />�r� <br />�� <br />�4 ] <br />�3 <br />�3 <br />� <br />�� <br />�� <br />APPENDIX E: HRA POLICY STATEMENTS & POTENTIAL ACTION STEPS <br />FOR FUTURE IMPLEMENTATION BASED UPON BUDGET RESOURCES <br />Policy Statement: Provide more opportunities for Roseville renters to own <br />homes in Roseville, should they decide to move from their rental housing. <br />a. Study Findings - The Study indicates that there is a young family <br />population within rental multi family housing and that when they move to <br />ownership housing they tend to move out of Roseville. The reasons for <br />this are speculativebut housing elsewhere is available immediately and is <br />less expensive. In addition, even though Roseville's home ownership rate <br />(68%) is higher than the national average, it is below the average of the <br />state and metropolitan region. A goal of the City has been to retain a ratio <br />of approximately 70 percent owner occupied units to 30 percent rental <br />units. <br />b. Why is this good policy for the City? Residents are more apt to invest <br />and participate in the city when they have an ownership interest. They <br />have a stake in future value of home and community, so there is desire to <br />keep it up, improve the property, locate a j ob closer to home, and thus <br />raise the property values and generate taxes. They have more of a"stake" <br />in the future of the city, their neighborhood and school district which <br />translates into more volunteering, social engagement, and sense of place in <br />which to raise a family. This stabilizes the school district enrollment as <br />well as city services to help them remain viable Centers of the <br />Community. <br />c. Possible Action Steps: <br />i. Provide target mailings to the 50%of apartment complexes where <br />there are a high percentage of younger renters, marketing <br />homeownership classes and fust time buyer programs. <br />ii. Through quarterly meetings, newsletters, and seminars, partner <br />with Realtors and Bankers to target fust time buying opportunities <br />to these complexes. <br />iii. Evaluate the pros and cons as well as issues associated with the <br />conversion of rental apartments into ownership condominiums. <br />Identify which complexes might be good candidates for affordable <br />conversion to increase home ownership or opportunities for current <br />owners to "downsize" their housing stock. <br />MULTIFAMILYHOUSING REPORT FOR ROSEVILLE - DRAFT 8/16/04 Page 20 <br />