09-05-2017 Council Packet - Laserfiche WebLink

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Lino Lakes 2040 Comprehensive Plan Update Planning & Zoning Board re: Housing Plan 1 August 9, 2017 Date: July 31, 2017 for August 9, 2017 Meeting To: Lino Lakes Planning & Zoning Board From: Anne Hurlburt, Planner Landform Professional Services Subject: Housing Plan Update The Housing Plan is Chapter 4 of the Comprehensive Plan. At the August 9th meeting, we will review the existing plan, update the Board with the latest information on housing in Lino Lakes, and discuss issues for updating this part of the plan to 2040. 2030 Housing Plan Chapter—A housing plan is a required Comprehensive Plan element under the Metropolitan Land Planning Act. The 2030 Housing Plan is attached. It includes Goals and Policies; a Housing Profile that addresses market trends, housing conditions in Lino Lakes and nearby communities; and, sections on Life-Cycle Housing and Housing Diversity, Senior Housing and Affordable Housing. The last section is Housing Implementation Strategies and Recommendations. 2040 Housing Plan Requirements—Minnesota Statutes Section 473.859 Subd. 2.(C) states as follows: “ A land use plan shall also include a housing element containing standards, plans and programs for providing adequate housing opportunities to meet existing and projected local and regional housing needs, including but not limited to the use of official controls and land use planning to promote the availability of land for the development of low and moderate income housing.” Housing needs include “affordable” housing, which is defined as housing that is affordable to low-and- moderate income families, making no more than 80% of the area median income (AMI) for both rental and ownership housing. In 2017 the area median income for a household of four is $90,400. A family of four can earn up to $68,000 to qualify for affordable housing at 80% AMI. This translates into a maximum affordable home price of $236,000. Cities are asked to acknowledge their share of the region’s need for affordable housing at three levels of affordability: less than 30% AMI, 31-50% AMI, and 51-80% AMI. Attachment 2 provides more details on the 2017 affordability limits for both ownership and rental housing. The Metropolitan Council has calculated Lino Lakes’ share of the region’s need for low and moderate income housing for the decade of 2021-2030 to be 515 new units. In comparison, the goal for 2011-2020 was 560 units at all levels of affordability. The city is expected to add 1,700 new households between 2021 and 2030. The need for affordable units is about 30% of the total. The Metropolitan Council’s Affordable Housing Production Survey found that 56.42% of Lino Lakes’ existing housing stock was affordable in 2017 (all units below 80% AMI.)