06-12-2024 Workshop Packet - Laserfiche WebLink

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• Bloomington: Bloomington is using the 0.25% sales tax to fund housing initiatives focused on increasing the availability of affordable rental housing, providing down payment assistance for first-time homebuyers, and supporting homeless prevention programs. • Brooklyn Park: Brooklyn Park is using the 0.25% sales tax for affordable housing, with funds allocated to the construction of new affordable housing units, rental assistance programs, and housing support services for low-income residents. • Robbinsdale: Robbinsdale is using the 0.25% sales tax to fund affordable housing initiatives, including the preservation of existing affordable housing units, homeownership assistance programs, and supportive services for individuals experiencing homelessness. • Vadnais Heights: Vadnais Heights has not finalized their plan; however they are in the process of completing a Housing Study to inform how the funds should be spent as well as see if there are any personnel or additional staff needs to implement the funding initiatives. • Shoreview: Shoreview is using the 0.25% sales tax for affordable housing, with funds allocated to be distributed utilizing their existing HRA programs. 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: Implementing a metro area sales tax program to fund housing initiatives can have significant implications for staffing needs within municipal governments. The introduction of a new sales tax program often necessitates additional staff time to manage and oversee various aspects of the program, ensuring its effective implementation and ongoing administration. Increased personnel or consultants may be required within departments responsible for the planning, development,