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Housing Strategies <br />The following strategies outline potential methods in which a community can ensure a balanced <br />housing stock for its residents. A community should work to maintain a balanced housing stock <br />to house employees along a continuum of incomes from day care workers to teachers to business <br />owners. With housing communities can assume three levels of responsibility. The first is a <br />policy level in which communities can make changes to local policies and plans to support a <br />balanced development of housing. The second level is an intermediate level where communities <br />can provide letters of support, and financial or technical support. The final level would be an <br />advanced level where a community may not only finance a project but assume an ownership role <br />as well. The following outlines activities along all three levels where a community could <br />become involved. <br /> <br />Rehabilitation <br /> Define a target area of Elk River by analyzing age of housing, valuation of housing and <br /> the condition of housing to establish a rehabilitation target area. <br /> <br />· Have infonnation available for residents on programs that are available for housing <br /> rehabilitation including but not limited to Rural Development, Th-Cap, and MHFA. <br /> <br />Sponsor an application to the Small Cities Development Program to receive funds for <br />owner-occupied and rental rehabilitation that can be used by property owners to make <br />essential improvements. <br /> <br />Multi-Family Housing <br /> Identify land/parcels within the community that can be utilized for the development of <br /> multi-family housing. <br /> · Provide financial/resource assistance to projects that will develop affordable rental units. <br /> · Exmnine sites/areas that can be redeveloped to provide additional housing. <br /> <br />Single-Family Housing <br /> · Develop an inclusionary housing ordinance that sets a standard for affordable housing <br /> development in new subdivisions. <br /> · Provide incentive such as reduced lot sizes, street widths, or fees for developers who <br /> incorporate affordable housing into developments. <br /> · Work with area employers to establish a homeownership savings program. <br /> <br />Other <br /> · <br /> <br />Sign resolutions of support for projects that are seeking funding from an outside agency <br />to develop affordable housing within the Community. <br />Make policy changes through the City Comprehensive Plan and Zoning Ordinance that <br />support housing demand. <br />Conduct an employee survey to gauge information from employees working in Elk River. <br />This tool can be used to gather a variety of information on housing, comrnuting patterns, <br />spending patterns, etc. <br /> <br /> <br />