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<br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />City of Minnetonka City Council Policy 13.2 <br />Policy Number 13.2 <br />Affordable Housing Policy <br />Purpose of Policy: This policy establishes general procedures and requirements <br />to govern the City’s commitment to affordable housing. <br />Introduction <br />The City of Minnetonka has a long history of promoting diversity in the type and size of <br />housing units in Minnetonka, including the production of new affordable rental and <br />ownership opportunities. <br />This Policy recognizes the city’s commitment to provide affordable housing to <br />households of a broad range of income levels in order to appeal to a diverse population <br />and provide housing opportunities to those who live or work in the city. The goal of this <br />policy is to ensure the continued commitment to a range of housing choices by requiring <br />the inclusion of affordable housing for low and moderate-income households in new <br />multifamily or for-sale developments. <br />The requirements in this policy further the Minnetonka Housing Action Plan and city’s <br />Housing Goals and Strategies identified in the 2040 Comprehensive Plan. <br />Applicability and Minimum Project Size <br />This policy applies to all new multifamily rental developments with 10 or more dwelling <br />units and all new for-sale common interest or attached community developments, <br />(condominiums, townhomes, co-ops) with at least 10 dwelling units. This includes <br />existing properties or mixed-use developments that add 10 or more units. <br />Calculation of Units <br />The number of Affordable Dwelling Units (ADUs) required shall be based on the total <br />number of dwelling units approved by the city. If the final calculation includes a fraction, <br />the fraction of a unit shall be rounded up to the nearest whole number. <br />If an occupied property with existing dwelling units is expanded by 10 or more units, the <br />number of required ADUs shall be based on the total number of units following <br />completion of expansion. <br />Affordable Dwelling Unit (ADU) <br />General Requirements. <br />For projects not requesting a zoning change and/or comprehensive plan amendment <br />and not receiving city assistance. <br />• In multi-family rental developments, at least 5% of the units shall be <br />affordable to and occupied by households with an income at or below 50% of <br />Page 1 of 4 <br />25