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Item 05A <br />Page 4 of 5 <br />Screening & Buffering TBD <br />Utility Service Existing <br />Surface Water Drainage TBD. Storm water ponding is likely to occur in underground <br />chambers, or north of the driveway. If north, then this would <br />detract from potential need for Usable Open Space. <br />Trail Existing. A right-hand turn lane will require the trail location to be <br />adjusted. <br />Lighting/Glare TBD <br />Signage TBD <br />Park Dedication Fee $3,500 X 120 units = $420,000. <br />Construction Timetable TBD. Construction is dependent upon obtaining tax credits <br />through the Minnesota Housing Finance Agency (Oct 2021), and <br />bonding through Minnesota Management & Budget (Jan 2022). <br />Best case scenario is that construction will begin summer 2022. <br />Affordable Housing6 <br />The Metropolitan Council assigns an "allocation of affordable <br />housing need" for each community, based on; forecasted growth, <br />existing affordable housing stock, and ratio of low -wage jobs to <br />low -wage earning residents. <br />2021-2030 Need <br /><30% <br />AMI <br />31 % - <br />50% AMI <br />51 % - <br />80% AMI <br />TOTAL <br />Mounds View <br />27 <br />11 <br />21 <br />59 <br />Skyline <br />0 <br />120 <br />0 <br />120 <br />Total Need (after Skyline) <br />27 <br />0 <br />21 <br />48 <br />To qualify for subsidies through the Minnesota Housing Finance <br />Agency, the following rent and income limits apply: <br />Max Rent per Unit <br /><30% <br />AMI <br />31% - <br />50% AMI <br />51% - <br />80% AMI <br />MV <br />Median' <br />1 Bedroom <br />$590 <br />$984 <br />$1,575 <br />$928 <br />2 Bedrooms <br />$708 <br />$1,181 <br />$1,890 <br />3 Bedrooms <br />$818 <br />$1,363 <br />$2,182 <br />It should be noted that the median rent in Mounds View ($928) is <br />less than rent limits for Skyline. <br />Income Limit per <br />Household Size <br />1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br /><30%AMI <br />$22,050 <br />$25,200 <br />$28,350 <br />$31,470 <br />$33,990 <br />$36,510 <br />$39,030 <br />$41,550 <br />31% - 50% AMI <br />$36,750 <br />$42,000 <br />$47,250 <br />$52,450 <br />$56,650 <br />$60,850 <br />$65,050 <br />$69,250 <br />6 Metropolitan Council, 2021-2030 Allocation of Affordable Housing Need (accessed July 16, 2021) <br />US Census Bureau, American Community Survey (Median Gross Rent, 2015-2019) <br />The Mounds View Vision <br />A Thriving Desirable Community <br />