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The first three bullet points can not apply for more than 20 years from the date of initial <br /> occupancy except where public financing or subsidy requires longer terms. <br /> Inclusion Housing Ordinance/Zoning in the State of MN were adopted by many <br />communities in the time of the housing boom from 2002-2008 in order to sustain <br />affordable housing options primarily in developing communities. In addition, by <br />adopting such ordinance, it allowed these booming communities to meet there <br />affordable housing requirements for the Met Council. <br /> As of April 6, 2010 Roseville has 178 properties actively listed for sale in our <br />community and 145 of those homes are priced less than $298,000 (the maximum price <br />limit for first time home buyer programs). Currently 81% of Roseville’s for-sale <br />properties meet the criteria of affordable housing options. <br /> Also because the financing for conventional market rate rental housing is very limited <br />at this time, most if not all of the proposals that the City of Roseville has received are <br />for building affordable rental housing. <br /> Staff would like to have discussion with the HRA Board Members regarding the City’s <br />need for an Inclusionary Housing Ordinance. If the HRA finds need the HRA can <br />make recommendation to the City Council to adopt an ordinance. <br />Suggested RHRA Action <br />2.0 <br />Staff does not recommend at this time that the HRA supports adopting an Inclusionary <br />Housing Ordinance/Zoning based upon the fact that the existing housing stock is affordable <br />and the private sector is meeting the needs for affordable housing in our community. <br />Prepared by: Jeanne Kelsey (792-7086) <br /> <br /> <br /> <br /> <br />Inclusionary Housing - Page 2 of 2 <br /> <br />