8.0. HRSR 08-25-2003 - Laserfiche WebLink

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HRA/Housing August 25,2003 Page 7 410 mix between townhouses and detached single family units was 10.1%townhouses to 89.9% detached single family.Currently,townhouses make up about 13% of the single family units. Townhouse lots make up about 37% of the vacant single family lots while detached single family lots make up 63%.If the current ratio of vacant townhouse lots to vacant detached single family lots continues,the percentage of townhouses to detached single family will increase. What is "Affordable"? Housing affordability is based on 80% of the area's gross median income; of that 80%,no more than 30% should be used to meet housing needs.The current median income for outstate Minnesota is $65,000; 80% of that is $52,000.When broken down into an hourly wage, $52,000 per year equates to$25 an hour.When determining affordable housing, staff used$52,000 for a family of four as the base wage. Based on this amount a family could theoretically afford a mortgage of about$1074 per month, or house and lot with a value of $170,000. Options The following options are available if the city determines that there is a need for additional housing types and affordability: • Zone land appropriately.There is currently a lack of land zoned that would allow • development of a multi-family housing project.The only zoning district that allows multi-family dwellings is the R4 district.There is one vacant lot in Elk River that is zoned R4.The city could increase vacant land available for multi-family dwellings by rezoning specific properties to R4.This land would have to be within the Urban Service District,undeveloped, and should be within walking distance to commercial districts.There is some land that fits these criteria. There is a vacant parcel on the west side of Jackson Avenue, east of Lions Park that is currently zoned C2;there is also undeveloped land along Twin Lakes Road, near the MnDOT park and ride facility,that might also work. • Redevelopment.This option would also include rezoning to the appropriate zoning district to allow multi-family.The most likely area for this option would the village core area.There are many possibilities for this option;however,it would likely involve the redevelopment of older single family dwellings. These dwellings provide much of the affordable single family units in the city.By redeveloping these parcels affordable single family units would be replaced by multi-family units. • Accessory or"mother-in-law" apartments.This option involves allowing accessory apartments to single family dwellings.Typically these apartments are located above garages, in walk-out basements, or on second floors. These types of apartments are currently not allowed in any of our single family districts.These apartments would provide affordable units and would also provide homeowners with extra income. • S:\PLANNING\Scott\HRA 8-25 housing.doc