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Item 05B <br />Page 4 of 16 <br />Affordable Housing <br />Lot Size <br />Villas of Mounds View <br />Additional <br />units required <br />in Mounds <br />View by 20409 <br />Additional <br />units required <br />by 2040, after <br />Villas of <br />Mounds View <br />1 bed <br />2 bed <br />3 bed <br />- <br />- <br /><30%ofAMI <br />3 <br />- <br />- <br />27 <br />24 <br />31%-50%of AMI <br />65 <br />43 <br />- <br />11 <br />0 <br />51%-80%of AMI <br />- <br />1 <br />8 <br />21 <br />12 <br />TOTAL <br />68 <br />44 <br />8 <br />59 <br />36 <br />120 <br />The Metropolitan Council assigns each community an Allocation <br />of Need for Affordable Housing to be included in the <br />Comprehensive Plan. After the Villas are constructed, there will <br />still be a need for affordable housing, primarily at the <30% AMI <br />level (AMI = Area Median Income). Generally, these are <br />household incomes of $22,000 - $36,000. Minimum wage ($10.33 <br />p/hr) income is about $21,000 for a 40 hour/week job). The <br />median gross rent in Mounds View is $928.10 <br />Income <br />Limits per <br />Household <br />Size <br />1 <br />2 <br />3 <br />4 <br />5 <br />6 <br />30% AMI <br />$22,050 <br />$25,200 <br />$28,350 <br />$31,470 <br />$33,990 <br />$36,510 <br />50% AMI <br />$36,750 <br />$42,000 <br />$47,250 <br />$52,450 <br />$56,650 <br />$60,850 <br />60% AMI <br />$44,100 <br />$50,400 <br />$56,700 <br />$62,940 <br />$67980 <br />$73,020 <br />Proposed maximum rent per <br /># of bedrooms <br />1 bed <br />2 bed <br />3 bed <br />TOTAL <br />Units <br />< 30% AMI <br />$590 <br />- <br />- <br />3 <br />31% - 50% AMI <br />$984 <br />$1,181 <br />- <br />108 <br />51% - 60% AMI <br />- <br />$1,417 <br />$1,636 <br />9 <br />Proposed <br />1-1 <br />R-411 <br />PUD <br />Lot 1 <br />3.8 ac <br />- <br />6.89 ac <br />TBD <br />Lot 2 <br />1.2 ac <br />1.0 ac <br />- <br />- <br />Lot 1 (The Villas) requires approval of a PUD, to decrease the <br />minimum lot size from 6.89 acres (based on density) to 3.8 acres. <br />9 Mounds View Comprehensive Plan, Table 3-7 (Housing Allocation by Income). In 2019 (after calculations were <br />made), Boulevard Apartments was completed, including 4 units < 30% AMI, and 56 units < 60% AMI. <br />Zo US Census Bureau, 2015-2019 American Community Survey <br />ii Mounds View City Code, 160.056(B)(2)(c) (Minimum lot area). Minimum lot area in R-4 district is 2,500 sq ft <br />per unit (e.g. 120 units = 300,000 sq ft lot size, or 6.89 acres). <br />The mounus view vision <br />A Thriving Desirable Community <br />