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HOUSING <br />• Since the Cit has virtuall no rivate vacant land available for the <br />Y Y P <br />development of new housing and no immediate need for housing <br />redevelopment, it will emphasize the maintenance of the existing housing <br />stock until such time as the University of Minnesota elects to divest itself <br />of its agricultural lands north of Larpenteur Avenue. If that occurs, the <br />City will make every effort to satisfy unmet needs for affordable housing. <br />Measures that will be considered include: <br />1. Reduction in single-family lot requirements of up to 25 percent. <br />2. Provision for relaxation of zoning standards for up to 10 percent of <br />new single-family lots within each development. <br />3. Provision that up to 10 percent of multi-family rental projects be <br />affordable housing, if housing assistance is available. <br />4. Continuation of support for Section 8 rental assistaa~e vouchers for <br />low and modest income residents. <br />• 5. Allowance- for small accessory apartments or cottages for up to two <br />persons on the same lot as the principal residence. <br />6. Participation, as appropriate, in the Federal HOME and HOPE and such <br />other housing programs as may be made available to encourage home <br />ownership and rehabilitate affordable rental housing. . <br />CORE AREA REDEVELOPMENT. AND REHABILITATION <br />The Snelling and Larpenteur Commercial Core is located entirely within <br />Development District No. 2 which was established in 1984. One tax <br />increment financing (TIF) district was created in 1984 for Bullseye Golf <br />(northeast quadrant). The TIF District is scheduled for debt retirement by <br />1999. <br />The northwest quadrant is not a redevelopment candidate but it is in need <br />of substantial rehabilitation and site improvements to reestablish it as a <br />competitive retail center. The use of TIF for low interest rehabilitation <br />loans will be considered to upgrade the exterior of buildings and improve <br />signage. Depending on fund availability, the City will also consider the use <br />• of TIF for a variety of public improvements including landscaping, lighting, <br />eliminating overhead wiring and improving parking, access and circulation. <br />Falcon Heights Comprehensive Plan Draft Page 47 <br />