May 16, 2006 CCP - Laserfiche WebLink

Home Browse Search

Businesses provide jobs to local residents, make important contributions to local leadership, and add to the local tax base. It is Important to note that a strong commercial - industrial base helps keep property taxes reasonable in Edina. Edina's tax base has 23 percent more market value per resi- dent than the next highest city, Eden Prairie. Beside Minnea- polis and St. Paul, Edina s total market value is surpassed only by Bloomington, and. slightly edged out by Plymouth and Eden Prairie. One consequence Is that Edina's property tax rates are relatively low: eight percent less than the metropolitan average for total tax rates and only 67 percent of the metro- politan average of taxes levied for city services. Providing Lifecycle Opportunities for Community Re- newal. Housing for people at different places in the lifecycle plays an integral role in creating a healthy community. Lifecy- cle housing creates housing opportunities for all points in the lifecycle: young adults, families (young, mature, non- traditional, or otherwise), empty nesters, and seniors. Today, Edina residents with "unaffordable" housing costs are dispro- portionately seniors. Edina will need to ensure that the com- munity has the social and physical infrastructures that allow seniors to thrive. Edina should assist aging seniors to find de- sirable housing, help first-time home buyers into seniors' homes when they wish to sell, and ensure that any new hous- ing can be recycled using the emerging principles of "universal design" to meet multiple needs. In the future, lack of afford- able housing will impact other segments of our community, especially young families. Edina will need affordable housing to better compete with other communities in our region for those young families seeking affordable housing so that we may more easily maintain a vibrant community, fill the schools and more jobs with Edina residents, and ensure a diversity of ages within the city.