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Item 08A <br />Page 13 of 26 <br />Maximum Gross Rents by bedroom size2e <br />1 <br />2 <br />3 <br />30% AMI <br />$660 <br />$792 <br />$915 <br />50%AMI <br />$1,100 <br />$1,320 <br />$1,525 <br />80%AMI <br />$1,761 <br />$2,112 <br />$2,440 <br />The project relates to the City's 2023-2025 Strategic Plan, and <br />2040 Comprehensive Plan. Among the Strategic Plan strategies, <br />includes; "Support the development of a variety of house stocks <br />that includes affordable and market rate and the maintenance of <br />properties", and; "Continuing supporting tax increment financing <br />(TIF) as an economic development tool." The Metropolitan <br />Council forecasts affordable housing needs throughout the region, <br />allocating each community its share of that need, and requires <br />Comprehensive Plans to guide sufficient land at residential <br />densities to accommodate this need. <br />Population Based on Staff's analysis of population per household data <br />analysis provided by the Metropolitan Council, Staff estimates the <br />140-unit apartment building will be home to 343 residents, <br />including 72 residents that are school -age. <br /># of units <br />Age 0-4 <br />Age 5-17 <br />Age 18+ <br />Total <br />1-bedroom <br />35 <br />1.19 <br />1.54 <br />43.51 <br />2-bedroom <br />70 <br />16.31 <br />25.62 <br />120.05 <br />3-bedroom <br />35 <br />15.23 <br />44.38 <br />74.73 <br />TOTAL <br />140 <br />33 <br />72 <br />238 <br />343 <br />Source: Metropolitan Council summarization of American Community Survey (ACS) <br />Public Use Microdata Sample (PUMS), 2015-2019 <br />"Apples -to -Apples" comparison <br />Age 0-4 <br />Age 5-17 <br />Age 18+ <br />TOTAL <br />140-unit Woodale Apartments <br />33 <br />72 <br />238 <br />343 <br />140-unit Townhomes (3 bdrms, owner <br />occupied) <br />16 <br />51 <br />51 <br />258 <br />140-unit Single -Family (4 bdrms, owner <br />occupied) <br />32 <br />107 <br />309 <br />588 <br />"Apples -to -Oranges" comparison (no <br />PUD) <br />Age 0-4 <br />Age 5-17 <br />Age 18+ <br />TOTAL <br />50 unit apartment26 <br />12 <br />25 <br />85 <br />122 <br />13 townhomes27 <br />1 <br />5 <br />23 <br />29 <br />3 Single -Family Homes28 <br />1 <br />2 <br />7 <br />10 <br />Development Review <br />21 Minnesota Housing Finance Agency; Income Limits and Maximum Rents; Table N: Protects Placed in Service on <br />or after 04/01/2022; Ramsey County, effective 04/18/2022 <br />26 Assumes R-4 zoning. (12) 1-unit, (26) 2-unit, (12) 3-unit. <br />27 Assumes R-3 zoning, 2/3's land as buildable, 1/3 land as common driveway/utilities/stromwater. <br />28 Assumes no new roads. All driveways to access Woodale Drive. No access permitted on Mounds View Blvd. <br />I fie IVIOU nUb VIeW V151Un <br />A Thriving Desirable Community <br />