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Image Placeholder <br />96HOUSING2040 COMPREHENSIVE PLAN UPDATE DRAFT Dec14-17 <br />for review only <br />A2040 COMPREHENSIVE PLAN UPDATE <br />DRAFT Dec14-17 <br />for review only <br />A2040 COMPREHENSIVE PLAN UPDATE A2040 COMPREHENSIVE PLAN UPDATE <br />Affordable Housing <br />Affordable or workforce housing provides opportunities for employers to hire local workforce from a wide <br />range of incomes� The federal and state governments have long used household income as a key measure <br />for eligibility for their housing programs� Eligibility is based upon very low-, low-, and moderate-income <br />categories. The U.S. Department of Housing and Urban Development (HUD) defines and calculates <br />different levels of AMI for geographic areas across the country by household size� For the Twin Cities region <br />in 2016, HUD has defined the three levels of affordability shown in Table 4-5. <br />Table 4-5 Affordable Housing Thresholds, Twin Cities Region 2016 <br />Household <br />Size <br />Extremely Low Income <br />(30% of AMI) <br />Very Low Income <br />(50% of AMI) <br />Low Income (80% of <br />AMI) <br />One-person $18,050 $30,050 $46,000 <br />Two-person $20,600 $34,350 $52,600 <br />Three-person $23,200 $38,650 $59,150 <br />Four-person $25,750 $42,900 $65,700 <br />Five-person $28,440 $46,350 $71,000 <br />Six-person $32,580 $49,800 $76,250 <br />Seven-person $36,730 $53,200 $81,500 <br />Eight-person $40,890 $56,650 $86,750 <br />Source: U�S� Department of Housing and Urban Development (HUD), 2016 <br />Hugo has a number of residents living in the 30%-80% household income bracket that are also cost- <br />burdened by housing costs, as shown in Table 4-6� Number of Cost-burdened Households in Very Low, <br />Low, or Moderate Income Households� <br />Based on historical trends and the number of low wage jobs provided, the Metropolitan Council anticipates <br />that there will be a need for additional affordable housing units by 2040 in the City as shown in Table 4-7� <br />Table 4-6 Number of Cost-burdened Households in Very Low, Low, or Moderate <br />Income Households <br />Income at or below 30% of AMI Income 31% to 50% of AMI Income 51% to 80% of AMI <br />251 417 243 <br />Source: Metropolitan Council <br />Table 4-7 Metropolitan Council Affordable Housing Need Allocation for Hugo <br />Income Threshold Number of Units needed by 2040 <br />At or below 30% AMI 444 <br />31 to 50% AMI 342 <br />51 to 80% AMI 48 <br />Total Units 834