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Economic Development Advisory Committee April 4, 2024 Page 2 DRAFT MINUTES demand for all types of housing between now and 2030. She stated the overall need in Anoka County was 18,041 new single family housing units. Key findings, specifically for the city of Lino Lakes, included the need for 1400 new households this decade and an additional 600 the following decade. The survey looked at available lots for single family homes in Lino Lakes. Ms. Skepper said there were 117 vacant developed lots that met zoning requirements and a potential for 493 future single family lots. They also found 10 vacant developed lots for multi-family homes. She stated the City of Lino Lakes has a demand for 718 single family homes and 307 multi family homes between now and 2030 and stated we were in a good position with available land and demand. Ms. Skepper is anticipating an acceleration in the demand for housing in the next 24 to 36 months. Ms. Skepper reviewed how rental units are broken up into two occupancies. One is general occupancy, anyone can live there, and senior housing. She stated by 2030 there will be a demand for 191 rental units with an additional 288 by the year 2040. The study recommends that rental townhomes or an elevator style building would be appropriate for our City. She also said multi family vacancy rates in the City are below 2.5% which makes for a tight rental market. There is still some demand for senior housing but with the new senior building, it has captured some of that demand for the short term. She also said the demand would still continue. Ms. Skepper and Mr. Grochala responded to the board’s questions. B. Project Updates Mr. Grochala updated the committee on current City projects. 4. ADJOURNMENT Mr. Grochala adjourned the meeting at 9:29 a.m. Respectfully submitted, Julie Whitney, Community Development Administrative Assistant