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Affordable housing stock: For communities in which more than 30% of all <br />existing housing units are affordable, the formula reduces the need number by the <br />proportional amount they were above this threshold. For communities in which the <br />percentage of affordable housing is currently below 30 %, the need share number is <br />proportionally increased. <br />Transit Service: For communities with regular, frequent transit service, the <br />formula increases the community's share by 20 %. For communities with little current <br />transit service (category 3), the formula makes no adjustment. For communities with no <br />regular transit service (category 4), the formula decreases the community's share by 20 %. <br />The allocation formula can be expressed mathematically as: <br />Affordable housing need = <br />(HH growth * K1) * {1 + (Jobs/Workers — 1) + (.30 — existing aff housing) + (transit adj)} *K2 <br />Where K1 is 30.6% the forecast for region wide affordable housing need as a share of forecast <br />growth, and K2 is . 779, an adjustment factor to ensure the regional total of 51,000 needed <br />affordable units. <br />A map illustrating the distribution of affordable housing units metro wide is attached. <br />Additionally, staff has attached summary tables for cities by county. The summary tables <br />include the sewered household forecast for net growth as well as the adjustment factors <br />for each community. <br />Please note that the tables show Lino Lakes with a need of 1,051 units. This number was <br />adjusted to 560 in May of 2006 to account for existing units changing from on -site <br />systems to public sewer which are not considered new "sewered households ". The draft <br />comprehensive plan estimates a total of 1,275 affordable housing units which is based on <br />the revised total housing units (4,150 new households by 2020). This change is discussed <br />on pages 4 -16 and 4 -17 of the draft comprehensive plan. <br />Approved Housing Units <br />The draft comprehensive plan's forecasts estimate 4,150 new households by 2020. Based <br />on staff's review of existing development approximately 250 -300 residential lots have <br />received either preliminary plat approval or final plat approval but have not been <br />constructed on. Additionally, the Legacy development was approved for up to 450 units <br />with 60 completed. <br />Council Direction <br />No council direction is requested at this time. Staff and consultants will be available for <br />comment. <br />4 <br />