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Item 08C <br />Page 2 of 4 <br />In 2022, several City Council members and Planning Commissioners toured YardHomes in New <br />Brighton, expressing an interest in allowing these in Mounds View (this led to YardHomes' <br />inclusion in the proposed Pulte townhome project). YardHomes start at around $200,000. In <br />Mounds View, the average home sale price was $305,000.4 Thus, a homeowner wanting to <br />build an ADU as an investment should not expect to recoup its costs. The choice to build an <br />ADU is more due to a life change. Example, if an ADU is more desirable for a family member <br />compared to assisted living, without regard to costs. <br />Strategic Plan Strategy/Goal: <br />Address Absentee Landlords, Attract Affordable Housing Opportunities, Aggressive Code <br />Enforcement, Encourage landowners to maintain their properties. <br />Financial Impact: <br />N/A <br />Planning Commission Recommendation: <br />The Planning Commission recommended approval at its June 21, 2023 meeting (Resolution <br />1161-23). <br />Staff Recommendation: <br />Staff recommends conducting the First Reading and Introduction. A Public Hearing will be held <br />on August 28, 2023. <br />Respectfully, <br />�eQ0 <br />Jon Sevald, AICP <br />Community Development Director <br />ATTACHED <br />ADU Examples <br />YardHomes photos <br />Ordinance 1004 <br />Family Housing Fund; Home+home Twin Cities ADU Guidebook <br />StarTribune article <br />4 Minneapolis Area Realtors; Mounds View May 2023; Average Sales Price. <br />The Mounds View Vision <br />A Thriving Desirable Community <br />