03-13-2024 Workshop Packet - Laserfiche WebLink

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Housing Study: One of the most important factors needed to determine the most appropriate use of this funding source is a broad understanding of the current housing stock and conditions for Little Canada. Comprehensive housing studies are typically conducted by local municipalities every 5-10 years to track current conditions and address the following questions: • Provide a thorough inventory of your housing stock and conditions. • Analyze market demand and development dynamics around housing development across a broad range of price points and building formats. • Facilitate a dialog around housing goals and needs, factoring in the perceptions and values of your community stakeholders and elected officials. • Develop a range of strategic approaches that have the potential to reduce barriers. While there have been conversations about housing and demographic trends, the City of Little Canada has not conducted a formal housing study over the past 30 years. Due to the unprecedented funding source of the 0.25% sales tax for housing initiatives, it would be particularly timely to authorize a formal housing study in 2024. A formal housing study would also serve as an important information source for the upcoming strategic planning process in 2025. Staffing Impact: For cities that do not already have dedicated staff focused on housing programs and initiatives, it is important to note that creating new programs to fund housing initiatives can have significant implications for staffing needs within municipal governments. The introduction of a new housing program often necessitates additional personnel to manage and oversee various aspects of the program, ensuring its effective implementation and ongoing administration. Increased staffing may be required within departments responsible for the planning, development, reporting, and execution of projects funded by the sales tax program which can be achieved through part-time, full-time, or consultants. At this time, it is not clear if funds generated by the 0.25% sales tax for affordable housing can be used in part for internal staffing needs. Planning Commission Review: At their February 8th meeting, the Planning Commission meeting reviewed and discussed how the 0.25% sales tax for affordable housing could be the most impactful for Little Canada residents. The Commission emphasized the importance of maximizing the positive effects of these funds on the entire community. While exploring potential collaborations with existing organizations or agencies, the Commission underscored the necessity of ensuring that funds allocated to Little Canada remain within the city's boundaries to benefit the community as a whole. Specifically, the Commission expressed keen interest in options aimed at increasing the preservation of affordable housing, facilitating home repair initiatives, and promoting energy efficiency measures. These priorities reflect the Commission's commitment to enhancing the quality of life for all residents of Little Canada by these priority areas addressing: • Housing affordability • Improving housing conditions • Promoting sustainability within the community