10-22-2001 HR MIN - Laserfiche WebLink

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HRA Minutes Page 4 October 22,2001 • • Average cost of 2-bedroom apartment is $670 requiring an average household to earn $12.90 per hour (30% of the household income goes to housing) • The average industrial wage is $11.54 and the average manufacturing wage is $18.35 • HOUSING • Low vacancy rate • Median sales price $160,000 requiring a household to earn over$50,000 annually or$24.00 per hour. Lisa indicated that the study revealed that average wages paid by industries in Sherburne County are not sufficient to afford the median cost of a home in Elk River and some sectors would not be able to afford the average cost of a two-bedroom apartment. Lisa also discussed strategies the city should consider to address the issues discussed. Mayor Klinzing discussed the need for a workforce development housing project and for transitional housing. The Mayor stated that affordable housing is only part of the total housing problem throughout the metropolitan area. Catherine Mehelich indicated that the HRA should think about what type of role the city wants to play in these housing issues. It was the consensus of the HRA to hold a joint meeting with the City Council to discuss these issues. The HRA also suggested that the Planning Commission be invited to attend. 7. Other Business Catherine Mehelich distributed a letter she received from the River's Edge Downtown Business Association thanking the City for the work that was done in the downtown area. 8. Adjournment There being no other business, COMMISSIONER MOTIN MOVED TO ADJOURN THE MEETING. COMMISSIONER LEISER SECONDED THE MOTION. THE MOTION CARRIED 4-0. The meeting of the Elk River Housing and Redevelopment Authority adjourned at 6:35 p.m. Sandra Peine City Clerk •