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City of Roseville - Housing & Redevelopment Authority Meeting Minutes for July 20, 20...Page 2 of 7 Motion: Member Millasovich moved, seconded by Member Bean, to approve the consent agenda item 6.a. as presented. Ayes: 5 Nays: 0 Motion carried Public Hearing 7. None Action Items 8. a) Establishment of Action Steps and Policy Statements as part of the Roseville Multi- Family Study (HF0004). Executive Director Bennett provided the background and introduced suggested policy statements and action steps to be incorporated into the Multi-Family Study. She reviewed the findings. 1. There is a young family population within rental multi family housing and when they move to ownership housing they tend to move out of Roseville. 2. 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. 3. There is an increasing number of older population within multifamily housing due to the affordability and increased tenure. 4. Many of the smaller more affordable multi-family complexes do not include the school-aged child resources. 5. More than 80% of Roseville apartments have one or two bedrooms which is not attractive for young families. 6. The majority of the multi-family housing stock in both rental and ownership projects is over 40 years of age which may require significant renovation. 7. The average value of multi-family apartments is below the Twin Cities average of $65,000 per unit and over 30% of the complexes have a value below $50,000 per unit. 8. There are approximately 9,000 Roseville residents who live in some type of multi-family housing and over 70% of them pay rent which represents a significant and important population of the City. 9. The City’s housing goals of maintaining 40% multi-family and 60% detached single family mix is beginning to change as properties are (re)developed into more multi-family housing. 10. Less than 1.5% (130 acres) of the land in Roseville is remaining to be developed for the first time. Of those 130 acres, 35% (45 acres) are planned for multi-family housing. 11. There could be 1,200 new residents added in Roseville if the 45 acres were developed for multi-family housing. HRA offered no further findings and found those offered to be complete. Cathy Bennett explained policy statements: 1. Provide more opportunities for Roseville renters to own homes in Roseville, should they decide to move from their rental housing. Action 1: 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. Action 2: Through quarterly meetings, newsletters, and seminars, partner with Realtors and Bankers to target first time buying opportunities to these complexes. Action 3: Evaluate the pros and cons as well as issues associated with the conversion of rental apartments into ownership condominiums. Identify which complexes might be good candidates http://archive.ci.roseville.mn.us/council/hra/minutes/2004/hram040921.htm4/16/2010