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October 15, 2024 <br />Page 2 <br />City Officials decided to carry over discussion on other issues including (1) Active options for <br />working toward the creation of affordable housing opportunities; (2) Identifying strategies that <br />can foster “Naturally Occurring Affordable Housing” (NOAH), through home ownership; (3) <br />Balancing impacts of market influences with local regulations; (4) Potential use of outside <br />agencies or strategies that could realistically assist St. Anthony in reaching its goals as they may <br />be defined. <br />To help resolve and clarify the community’s objectives, in service of creating appropriate code <br />and policy, the following questions are intended to help guide discussion at the October 2024 <br />Joint Work Session. <br />1.Is there a role for the Village in limiting overall rental housing quantities – especially <br />single family home rentals? <br />2.If the Village chooses to limit rental housing, is there a preferred strategy option (such <br />as (a) limits on total rental units, (b) limits on geographic distribution by neighborhood, <br />(c) first-come, first-served license applications. <br />3.Is the Village interested in participating in public financial support for affordable <br />housing, such as through Tax Increment Financing or other sources? <br />There are a number of resources that may be relevant to this discussion. Recently, the <br />Minneapolis Federal Reserve has been studying housing in the Twin Cities area, and has <br />published findings in a series of reports. They can be found at the following links (there are <br />other related articles that can be found with these): <br />https://www.minneapolisfed.org/article/2024/how-new-apartments-create-opportunities-for- <br />all <br />https://www.minneapolisfed.org/article/2024/twin-cities-region-meets-ambitious-housing- <br />goals-for-second-year-but-has-much-work-left-to-do <br />Because prior discussions generated a substantial amount of other support research, the <br />questions above are designed to help focus what additional material might be useful in creating <br />additional consensus on rental housing. The work session discussion of these questions, and <br />other issues that may be raised, will help staff prepare additional research or code language <br />that can help target the full range of issues and objectives. Staff will develop additional <br />resources based on the comments and questions raised at the upcoming work session. <br />ATTACHMENTS <br />Mapping of Single Family Rental Units (2023) <br />Mapping of Selected Property Values (2023)