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