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<br />Request for Action <br /> <br /> <br /> <br /> <br /> <br />To Item Number <br />Mayor and City Council 9.1 <br />Agenda Section Meeting Date Prepared by <br />Work Session January 18, 2022 Brent O’Neil, Economic Development Director <br />Item Description Reviewed by <br />Housing Study Review Cal Portner, City Administrator <br />Reviewed by <br /> <br /> <br />Action Requested <br />Item is presented for information and discussion. <br /> <br />Background/Discussion <br />At the January 3, 2022, Council meeting, the Council requested a work session to review the status of rental <br />housing construction in Elk River relative to the studies Maxfield Research completed for the city in 2018 and <br />Sherburne County in 2020. <br /> <br />The Elk River study recommended a minimum of 690 to 785 new housing units be developed in Elk River. <br />Planning and building staff evaluated the units added from 2018 through October 1, 2021. A breakdown of those <br />units by type along with the recommend breakdown by type is stated below. <br /> <br />Senior housing: 35 units constructed, 115 to 140 recommended (see Table CR-2 on page 52). <br />Rental housing: 108 units constructed (40 at market rate and 68 affordable), 235 to 275 recommended (165 market <br />and 90 affordable). <br /> <br />The plan recommended 360 units of single-family be constructed as well, and actual constructed units were 342. <br /> <br />Sherburne County’s study included evaluation of Elk River as a sub-market within the county. It recommended up <br />to 480 units of new rental demand between 2020 and 2030. The “Rental Housing Demand” section of that report <br />shows a recommended breakdown of 288 market rate units, 120 affordable units, and 70 subsidized units. <br /> <br />Financial Impact <br />N/A <br /> <br />Mission/Policy/Goal <br />The housing study helps advise the council on goals related to housing in Elk River. <br /> <br />Attachments <br /> City of Elk River Housing Study – 2018 <br /> Excerpt from Sherburne County Housing Study – 2020 <br /> <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional <br /> <br />service, and community engagement that encourages and inspires prosperity. <br /> Updated: August 2020 <br />