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City of Falcon Heights Planning Commission Date: 1 1 /27/95 • ~~ ITEM: Information on the Livable Communities Act SUBMITTED BY: Susan Hoyt, City Administrator EXPLANATION/DESCRIPTION: The 1995 state legislature passed legislation directed at expanding affordable housing opportunities throughout the metropolitan area. The program is "Livable Communities" and is being administered by the Metropolitan Council. Cities are being asked to voluntary participate in the program and, as part of their participation, to establish "affordability" goals. There are some financial incentives for participating to some communities. They are directed at cleaning up polluted sites and building new affordable housing. CITY Il~iDF.X BENCHMARK GaAL affordability Ownership 60% I 68-77% Rents! I 85% 45138% - Life-Cycle Type (Non-single family detached) ~5% 36-31% OwnerJrenter Mix 56144% (64-74) / (2b-36)% Density Single-Family Detached 3.~/acre I ' 1.3-2.9/acre Ylultifamiiy I I7/acre I 12-IS/acre __1 The City of Falcon Heights has agreed to participate with the understanding that the community is already very affordable. The city exceeds the affordability benchmark in a number of areas, which are established based upon planning areas and a 51 15,000 home as affordable. Most notably the city's rental housing has 85% of the housing stock affordable. (This is not only university housing.) The owner occupied housing is slightly shy of the benchmark. However, given the city's rental affordability and high density development, it is unlikely that the Metropolitan Council will look for active increases in this area. This is particularly true because Falcon Heights single family market values increased at a slower rate (1.64% from 1994 to 1995) than some of the outlying suburbs like White Bear Township (3.12% from 1994 to 1995) where new single family construction is going on. If housing values continue to rise more rapidly in the further suburbs than in Falcon Heights, Falcon Heights will become more affordable by comparison. ACTION REQUESTED: Staff update for commission information.