7.1. SR 05-05-2014 - Laserfiche WebLink

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Elk Elk River Comp ehensive Plan R1Ver Seniors Those in their 80s and older are often looking for low maintenance or assisted living housing. Elk Ridge Manor provides apartment and townhome living with 24 -hour maintenance and on -site management with opportunities for aging seniors Guardian Angels also provides a continuum of services for seniors including assisted living, long and short term care, hospice, and senior housing options in Elk River. As the population ages, Elk River must continually ensure that it has adequate housing to meet the needs of seniors. The number of empty nesters and seniors, coupled with their increasing level of activity, will drive housing, transportation, recreational and service needs into the next 30 years. Elk River should strive to be a senior - friendly community that values the contributions of seniors, promotes positive intergenerational interactions, considers the needs of seniors in community planning, supports the efforts of seniors to live independently, and acknowledges the role that family, friends, and neighbors play in the life of seniors. Special Needs Housing for those with special needs includes housing for those with mental and /or physical +# disabilities or health issues and those who are in need of temporary or transitional housing. The number of people with special housing needs is expected to increase as the population of Elk River continues to age. Affordable Housing Affordable housing is important to a strong economy and a healthy community. Increasingly, housing is not affordable for many working families and the lack of affordable housing for people of all ages and incomes causes families stress, dampens productivity and stifles job growth. Various organizations define "affordable housing" in many different ways. The United States Department of Housing and Urban Development (HUD) generally defines housing as affordable if it costs less than thirty (30) percent of a household's income. However, HUD's Section 8 Income Guidelines are the basis for most affordable housing programs. Section 8 guidelines define low and moderate incomes on a sliding scale, depending on the number of persons in the family. For example, a four person household is considered "moderate income" if their family income is eighty (80) percent of the area's median family income. It is noted most housing affordability programs and data place emphasis on creating owner occupied units at eighty (80) percent of the median family income (moderate income) and rental units at fifty (50) percent of the median family income (low income). Since low income persons are typically renters, the definition of "low income" is tied to the number of persons in each unit. As of spring of 2013 this study identifies "affordable owner occupied units" as those affordable for moderate income families (eighty (80) percent of median income). Affordable rental units are based on fifty (50) percent of the median income and reflected on a per capita and per family basis. Further housing analysis is desired to determine future housing demands and needs in Elk River. It's very important to note that the definition used in this Study of "affordable" in terms of a dollar amount will continue to change as the cost of living increases and interest rates change. Therefore, the City should periodically review income /housing statistics and update the definition as warranted. Factors such as interest rates will impact housing affordability. Chapter 7: Housing / 79