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Item 08A Page 5 of 6 Income Limit per Household Size 1 2 3 4 5 6 7 8 30% AMI 22,050 25,200 28,350 31,470 33,990 36,510 39,030 41,550 50% AMI 36,750 42,000 47,250 52,450 56,650 60,850 65,050 69,250 60% AMI 44,100 50,400 56,700 62,940 67,980 73,020 78,060 83,100 Mounds View's median household income is $67,402, and median household size is 2.68 persons. The project works toward the Comprehensive Plan's goal for Affordable Housing. In Staff's opinion, the project should include more units for earners less than 30% AMI. This project should provide an option for existing Mounds View residents to age in place within the community, and encourage turn -over of single- family homes. SUMMARY: MWF Properties has submitted a Concept Plan for a 120-unit apartment building. A Concept Plan does not require the level of detail expected for a formal Development Review. City Councilmembers are asked to provide individual opinions or suggestions to the Developer, addressing any of the items above. All comments are non -binding. The Concept Plan exceeds the following minimal requirements: 1. Exterior Materials. 2. Provides Affordable Housing. The Concept Plan includes the following deficiencies: 1. Exceeds allowed density; 120-units are proposed, whereas 103-units permitted by the 2020 Comprehensive Plan (30-units p/acre). 2. Reduction in Usable Open Space, from 625 sq ft per unit (1.72 acres), to approximately 470 sq ft per unit (1.29 acres north of the driveway). 3. Reduction in parking. Planning Commission Recommendation: The Commission reviewed the concept plan at its July 21s' meeting. To summarize, comments focused on assuring there is enough parking, use of greenspace/landscaping, desire for mixed use (commercial) on the first floor, and amenities. Commissioners expressed some concerns that the minimum age will not be 55+ (lease holder must be 55+). Staff Recommendation: Staff requests that individual Planning Commissioners provide comments of what their expectations are for this project. As a Planned Unit Development (PUD), the City may approve the project with deficiencies from the City Code, but with the expectation that the project exceeds other standards. In this case, the project is providing much needed affordable housing Strategic Plan Strategy/Goal: Support Redevelopment & Development Recruitment Efforts