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<br />Family Income LevelAffordable Home Price <br />80% AMI ($104,200)$306,500 <br />60% AMI ($79,440)$225,300 <br />50% AMI ($66,200)$183,700 <br />30% AMI ($39,700)$98,000 <br /> The Region’s Total Future Need for Affordable Housing for 2031 to 2040 is forecasted to be <br /> 39,700 units. Per the System Statement, Lino Lakes’ share of the region’s need for low- and <br />moderate-income housing for the decade is 428 new units affordable to households up to 60% <br /> of area median income (AMI) or below. In comparison, the Met Council’s goal for 2021-2030 <br />was 515 units up to 80% of area median income. <br />Affordable Housing Unit Needs for Lino Lakes <br />Threshold# Housing Units <br />At or below 30% AMI207 <br />31 to 50% AMI190 <br />51 to 0% AMI31 <br />Total Units428 <br /> To accommodate our share of the region’s affordable housing need, we are required to guide <br />residential land at densities sufficient to create opportunities for affordable housing. The City <br />may choose between two options: <br />Option 1: Guide sufficient land at minimum residential densities of 10 units/acre to support <br />your city or township's total allocation of future affordable housing need for 2031-2040 <br />Or <br />Option 2: Guide sufficient land at minimum residential densities of: <br />• 12 units/acre to support your city or township's 2031-2040 allocation of future <br />affordable housing need at 30% AMI or less. <br />• 8 units/acre to support your city or township's allocation of future affordable housing <br />need at 31-60% AMI. This combines your city or township's allocation of 31-50% AMI <br />and 51-60% AMI. <br />The City chose to implement option 1 in the 2040 plan. However, staff notes that the densities <br />in Imagine 2050 represents a change from a minimum of 8 units/acre to 10 units/acre. <br />4 <br /> <br />