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APPENDIX E: HRA ADOPED POLICY STATEMENTS & POTENTiAi, ACTION STEPS FOR FUTURE IMPLEMENTATION BASED UPON ANNUAL EVALUATION WITH BUDGET RESOURCES Policy Statement: Provide more opportunities for Roseville renters to own homes in Roseville, should they decide to move from their rental housing. a. Study Findings - The Study indicates that there is a young family population within rental multi family housing and that when they move to ownership housing they tend to move out of Roseville. The reasons for this are speculative but housing elsewhere is available immediately and is less expensive. In addition, even though Roseville's home ownership rate (68%)is higher than the national average, it is below the average of the state and metropolitan region. A goal of the City has been to retain a ratio of approximately 70 percent owner occupied units to 30 percent rental units. b. Why is this good policy for the City? Residents are more apt to invest and participate in the city when they have an ownership interest. They have a stake in future value of home and community, so there is desire to keep it up, improve the property, locate a job closer to home, and thus raise the property values and generate taxes. They have more of a"stal{e" in the future of the city, their neighborhood and school district which translates into more volunteering, social engagement, and sense of place in which to raise a family. This stabilizes the school district enrollment as well as city services to help them remain viable Centers of the Community. c. Possible Action Steps — evaluated annually for implementation within budget resources: i. Provide target mailings to the 50%of apartment complexes where there are a high percentage of younger renters, marketing homeownership classes and first time buyer programs. ii. Through quarterly meetings, newsletters, and seminars, partner with Realtors and Bankers to target first time buying opportunities to these complexes. ��. Evaluate the pros and cons as well as issues associatedwith the conversion of rental apartments into ownership condominiums. Identify which complexes might be good candidates for affordable conversion to increase home ownership or opportunities for current owners to "downsize" their housing stock. iv. Market the value of buving within Roseville and identifv the tradeoffs of living within a first ring suburb. An examale mav be that vou mav not �et a lar�e house with a lar�e vard but vou ROSEVILLE MULTIF'AMILY HOUSING REPORT - DRAFT 10/19/04 Page 23