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HomeMy WebLinkAbout2040 Chapter 04 - Housing City of Prior Lake Housing 2040 Comprehensive Plan Page 37 CHAPTER 4, HOUSING 4.1 Introduction Housing is an important part of Prior Lake since more land area is currently, and will continue to be, allocated to housing for future land uses than any other type of land use. Prior Lake’s housing has been historically centered around its lakes and near the Downtown. As the community has grown, residential development has expanded off the shorelines towards other wetlands and natural environmental features. This section includes a discussion of existing housing, housing needs, and an implementation plan. To help the City of Prior Lake plan for housing needs, data was collected from a variety of sources including the US Census, the American Community Survey, and the Metropolitan Council. A. Existing Housing Currently, there are approximately 9,586 housing units in Prior Lake, 88% of which are single family and 12% of which are multi-family. Most homes are owner occupied (82%). These and other current housing conditions in Prior Lake are outlined in Table 4.1. Table 4.1 – Housing Conditions Housing Units Number of Units Percent of Total Units Total Housing Units 9,586 100% Housing Units affordable to households with incomes at or below 30% Area Median Income (AMI) 326 3% Housing Units affordable to households with incomes between 31 and 50% Area Median Income (AMI) 1,349 14% Housing Units affordable to households with incomes between 51 and 80% Area Median Income (AMI) 3,506 37% 1.Encourage the development of suitable housing in a desirable environment a.Develop land uses, policies, and partnerships to provide opportunities for a variety of affordable housing and housing choices. b.Maintain development standards and housing policies that allow for low and moderate cost housing opportunities. c.Develop and maintain regulations that permit a mix of housing types, sizes and price ranges to be provided throughout the City. 2.Explore innovative and unique public and private partnerships that may foster a wide variety of single purpose and mixed-use housing/commercial/public developments with the Scott County CDA a.Utilize the tools of the City's EDA to cooperate with the Scott County CDA where appropriate. 3.Encourage high-quality, accessible community design in residential development, including connections to existing neighborhoods as well as collector and arterial streets. HOUSING GOALS AND OBJECTIVES City of Prior Lake Housing 2040 Comprehensive Plan Page 38 Ownership Units 7,660 80% Rental Units 1,926 20% Single Family Units 8,467 88% Multi-family Units 1,119 12% Publicly Subsidized - Senior Housing 40 0.4% Publicly Subsidized - Housing for People with Disabilities 0 0% Publicly Subsidized - All Other Publicly Subsidized Units 126 1.3% Total Publicly Subsidized Units 166 1.7% Source: Metropolitan Council B. Housing Types Most housing units in Prior Lake are detached, single family residential, shown in Table 4.2. Table 4.2 - Housing Units by Type as a Percentage of Total Housing Stock 2000 2010 2015 Single Family Detached 79% 67% 69% Single Family Attached 9% 20% 20% Du/Tri/Quadplex 3% 2% 2% Multifamily Units 8% 11% 9% Mobile Home 0% 0% 0% Total 100% 100% 100% Source: Metropolitan Council Tabulation of US Census and American Community Survey Data Permits for single family attached homes (townhomes) have declined since 2005. There were 3 new multifamily housing buildings permitted in 2016 with a total of 222 units. These units were the first multifamily housing permits in about 10 years in the City. Building permits by housing unit type and year are shown in Table 4.3 in the corresponding chart. Building Permits Issued in Prior Lake, 2005-2016. Source: Metropolitan Council Estimates; Prior Lake Building Permit Reports 0 50 100 150 200 250 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Building Permits by Type in Prior Lake, 2005-2016 SF-Detached SF-Attached Multifamily Units City of Prior Lake Housing 2040 Comprehensive Plan Page 39 Table 4.3 - New Housing Units Permitted in Prior Lake, 2005 - 2016 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Single Family Detached 117 87 83 65 62 104 93 135 166 118 112 108 Single Family Attached 84 82 36 19 0 0 26 52 39 8 10 4 Du/Tri/Quadplex 0 0 0 0 0 0 0 0 0 0 0 0 Multifamily Units 24 208 0 0 0 0 0 0 0 0 0 222 Total 225 377 119 84 62 104 119 187 205 126 122 334 Source: Metropolitan Council Estimates; Prior Lake Building Permits Reports C. Housing Tenure Historically, most housing units in Prior Lake has been owner occupied. In 2015, about 82% of housing units were owner occupied and almost 18% were renter occupied. This is a slight shift from both 2000 and 2010 when 87% of units were owner occupied and 13% were renter occupied. Single family detached homes remain the most common type of owner-occupied unit. While multifamily housing units are still the most common renter occupied unit, both renter-occupied single family detached homes and single family attached units have increased since 2000, making up larger portions of the rental market. Combined, single family detached and attached units made up over half of Prior Lake’s rental market in 2015 (56% of all rental units). Duplexes, triplexes, and quadplexes have decreased since 2000, making up only 6% of the rental market today compared to nearly 20% in 2000. The charts below indicate housing tenure. Source: US Census, 2000; American Community Survey, 2010 and 2015 0.0%20.0%40.0%60.0%80.0%100.0% Single Family Attached Single Family Detached 2-4 Unit Buildings Multifamily (5+ Units) Housing Tenure by Type 2015 Owner Occupied Rental 87.6%87.2%82.3% 12.4%12.8%17.7% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 2000 2010 2015 Housing Tenure Owner Occupied Rental 0%10%20%30%40%50%60%70%80%90% Single Family Detached Single Family Attached 2-4 Unit Buildings Multifamily (5+ Units) Tenure of Occupied Housing Untis, 2015 Owner Occupied Rental City of Prior Lake Housing 2040 Comprehensive Plan Page 40 D. Vacancy Rates The proportion of vacant units increased between 2000 and 2010 and remained constant in 2015. Across all years, most vacancies are due to seasonal, recreational, or occasional use of the housing unit. In both 2010 and 2015, more homes were vacant due to sales than in 2000. Source: US Census, 2000 and 2010; American Community Survey, 2015 E. Housing Values The value of owner-occupied housing units in 2000, 2010, and 2015 is detailed in the chart below. 2.5%, 4.9%, 5.0%, Vacany Rate 2000 2010 2015 City of Prior Lake Housing 2040 Comprehensive Plan Page 41 The increase in housing unit values is due to a combination of inflation, property values, and the type and quality of homes built in Prior Lake. Median home values have increased between 2000 and 2010 but decreased between 2010 and 2015. While higher home values can be a sign of stronger markets and signal desirable neighborhoods, they can also price families out of homeownership. Figure 4.1 is a map of the housing values in the City. 0% 5% 10% 15% 20% 25% Owner Occupied Housing Values 2000 2010 2015 Source: 2010-2015 American Community Survey City of Prior Lake Housing 2040 Comprehensive Plan Page 42 Figure 4.1: Owner Occupied Housing Values City of Prior Lake Housing 2040 Comprehensive Plan Page 43 F. Housing Costs Housing costs are an increasing concern throughout the region. Housing costs influence the ability of young adults, families, and seniors to remain in the community. It can also affect the ability of local employers to find workers. Housing costs are influenced by a variety of factors, including land costs, labor and materials, community regulations, and interest rates. The number of cost burdened households, or households spending 30 percent or more of their income on housing in Prior Lake, are outlined in Table 4.4. Cost burden is further detailed for both homeowners and renters in the chart below. Table 4.4 - Households Experiencing Cost Burden Existing households experiencing housing cost burden Number of Households Percent of Households • with incomes below 30% AMI 512 6% • with incomes between 31 and 50% AMI 468 5% • with incomes between 51 and 80% AMI 662 8% • with incomes above 81% AMI 861 10% Total 2,503 29% Source: Metropolitan Council, American Community Survey Source: US Census, American Community Survey 20% 31%29% 18% 28% 25% 32% 46%46% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 2000 2010 2015 Housing Cost Burden by Tenure Total Households Owner Households Renter Households City of Prior Lake Housing 2040 Comprehensive Plan Page 44 G. Owner Occupied Overall, since 2008, new owner-occupied housing units built in Prior Lake have been over the affordability threshold, detailed in Table 4.5. Table 4.5 - Affordability of New Owner-Occupied Housing Units Permitted in Prior Lake, 2005 - 2016 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Affordable 33 12 15 16 1 5 2 1 0 0 0 0 Over Affordability Threshold 187 157 104 68 61 89 106 173 188 126 122 112 Total 220 169 119 84 62 94 108 174 188 126 122 112 Source: Metropolitan Council Affordable Housing Production Survey Measures of affordability often compare housing costs to gross household income. The general industry standard defines housing as affordable if housing expenses equal 30% or less of gross household income. Table 4.6 provides a calculation of monthly housing costs as a percent of median household income to attempt to measure affordability. In 2015, almost 25% of Prior Lake owner occupied households spent more than 30 percent of their income on housing costs. Table 4.6 - Owner Housing Costs and Cost Burden Percent of Income Percent of Owner-Occupied Units 2010 2015 Less than 20% 39.4% 50.4% 20-29% 32.4% 24.3% More than 30% 28.0% 24.5% Not Computed 0.2% 0.8% Total 100% 100% Source: American Community Survey, 2010 and 2015. H. Renter Occupied Between 2010 and 2015, median rent increased beyond simple inflation adjustments, from $885 to $1,133 (Source: American Community Survey, 2010 and 2015). The increase in rent is due to a combination of inflation, location, age of unit, unit size, and available amenities. In 2015, more than 62% of the rental units in Prior Lake were priced from $900 to $1,999. The largest segment of units fell in the $1,500 to $1,999 range. While higher rents can be a sign of diversified rental options offering multiple bedrooms or amenities, they can also increase cost burden for renter households. As with owner occupied housing, a measure of affordability for renters is the percent of household income which is spent on rent. As Table 4.7 illustrates, just under half of all renters spent more than 30%t of their income on rent in both 2010 and 2015. City of Prior Lake Housing 2040 Comprehensive Plan Page 45 Table 4.7 - Renter Housing Costs and Cost Burden Percent of Income Percent of Renter-Occupied Units 2010 2015 Less than 20% 21.5% 26.3% 20-29% 24.9% 21.4% More than 30% 45.7% 46.1% Not Computed 7.8% 6.2% Total 100% 100% Source: American Community Survey, 2010 and 2015 I. Rental Assistance There is a total of 166 units in Prior Lake that are affordable and/or receive rental assistance, most of which are managed by the Scott County Community Development Agency. Funding and affordability thresholds for these units are detailed in Table 4.8. Table 4.8 - Rental Assistance Units and Providers Location or Manager of Units Total Affordable Units 30% AMI 50% AMI 60% AMI Primary Funder Highwood Homes 36 36 0 0 HUD/MHFA Kestrel Village Apartments 48 0 0 48 MHFA Prior Manor 40 40 0 0 HUDPH Bluff Heights Apartments 39 39 0 0 HUDPH Scott County Transitional Housing 3 0 0 3 MHFA Total 166 115 0 51 Source: Prior Lake Comprehensive Plan 2030 Update; HousingLink Stream Data. Expiration Dates for subsidized units (Source: HousingLink Streams Data): o Highwood Homes: 36 Units – Expired from HUD Section 8 (PBA) in September 2016. This property was preserved by MHFA ARIF and now has an expiration of September 2036. o Kestrel Village: 48 Units – earliest release July 2026 from MHFA Tax Credits o Prior Manor: 40 elderly units – This property is expected to expire from MHFA Tax Credits in July 2033. o Scott County Transitional Housing: 3 units – Earliest release June 2030 J. Summary of Existing Housing Needs Based on the above data and community engagement, the City of Prior Lake has identified the following housing needs as priorities for the community through 2040. 1. Affordable Housing, both owner and renter occupied, for a variety of income levels 2. Senior Housing, for a variety of income levels City of Prior Lake Housing 2040 Comprehensive Plan Page 46 K. Projected Housing Needs Table 4.9 – Forecasted Population, Housing, & Employment1 2010 2015* 2020 2030 2040 Population 22,206 25,049 27,500 32,500 37,600 Households 8,210 9,180 10,500 12,600 14,700 Employment 3,766 8,1672 5,000 7,000 8,100 *Metropolitan Council Estimates 1Population and household estimates and forecasts do not include SMSC property (fee and trust). 22016 employment estimate includes SMSC employees Demand for housing is high in Prior Lake, due to its proximity to employment centers and the high-amenity housing locations. General demand is identified in Figure 4.2 below: Source: Comprehensive Housing Needs Update, Scott County, Minnesota, November 2016 The largest demand for housing in Prior Lake is anticipated to be single family, owner occupied homes with a demand for 3,560 single family homes between 2017 and 2040. Approximately 1,096 additional rental units are forecasted to be needed over the next 23 years, almost 700 of which are expected to be market rate with 258 shallow subsidy and 140 deep subsidy units. Additionally, based on the Comprehensive Housing Needs Update for Scott County projections for 2040, Prior Lake is anticipated to have demand for roughly 1,000 senior housing units. Most of these would be rentals with demand distribution being roughly 400 market rate, 314 deep subsidy, 191 congregate, 46 assisted living, and 88 memory care. There is anticipated to be a surplus of shallow subsidy units in the City based on 2040 Figure 4.2: General Occupancy Housing Demand City of Prior Lake Housing 2040 Comprehensive Plan Page 47 projections and the construction of the 168-unit market-rate (Grainwood) senior housing project, which was completed in 2017. There is also expected to be a demand for about 110 senior owner-occupied units. Between 2000 and 2010, the community’s housing supply increased over 50 percent, averaging a growth rate of five percent per year. This pace has slowed in more recent years with only a five percent growth in housing stock between 2010 and 2015. Growth between one and five percent annually will meet 2020 household projections and anticipated need but will fall short of 2030 and 2040 projected needs. Additional growth is needed to meet long-term housing projections and need. According to the Comprehensive Housing Needs Update for Scott County, Prior Lake needs to maintain a supply of 400 lots over the next three years to meet household and population projections. At the time of the study (November 2016), there were 162 vacant, developed lots in the City for single-family development and four vacant, developed lots for multifamily development. The capacity of the City to accommodate new housing is in part related to the densities of housing projects. One gap in the current housing supply appears to be the inadequate supply of newer apartment units. A free-standing growth community or a mature suburban community could be expected to have from 25 to 30 percent of its housing stock in apartments or multiple family developments. In contrast, only nine percent of Prior Lake’s housing supply is classified as multiple family or apartment. This percentage is likely to continue to decrease based on the market demand for single family housing. L. Summary of Predicted Housing Needs The City of Prior Lake has identified the following housing needs as priorities for the community through 2040. 1. Senior Housing, for a variety of incomes 2. Multifamily Housing, for a variety of income levels 3. Affordable Housing, both owner and renter occupied, for a variety of income levels 4. Maintenance of existing housing units M. Affordable Housing Allocation The Metropolitan Council prioritized housing affordability in the Thrive MSP 2040 Regional Policy and determined the allocation of affordable housing needed to meet the rising need of affordable housing across the region. Housing is considered “affordable” when no more than 30% of household income goes to housing, so households with different income levels have different thresholds of “affordable,” as outlined in Table 4.10. The Metropolitan Council selected the 4-person household thresholds as the general measurement for affordable housing needs at each income level. City of Prior Lake Housing 2040 Comprehensive Plan Page 48 Table 4.10 – Regional Household Income Levels Household Size 30% AMI 50% AMI 80% AMI 1-Person $18,050 $30,050 $46,000 2-Person $20,600 $34,350 $52,600 3-Person $23,200 $38,650 $59,150 4-Person $25,750 $42,900 $65,700 5-Person $28,440 $46,350 $71,000 6-Person $32,580 $49,800 $76,250 7-Person $36,730 $53,200 $81,500 8-Person $40,890 $56,650 $86,750 Source: Metropolitan Council The allocation of affordable housing need is calculated based on a variety of factors: • Projections of growth of households experiencing housing cost burden • Current supply of existing affordable housing, whether subsidized or naturally occurring • Disparity of low-wage jobs and housing for low-wage households within a community The Metropolitan Council determined Prior Lake’s share of affordable housing need is 754 units, noted in Table 4.11. Table 4.11 – Affordable Housing Allocation At or below 30 AMI 411 From 31 to 50 AMI 212 From 51 to 80 AMI 131 Total Number 754 Source: Metropolitan Council Communities accomplish this affordable housing allocation by designating adequate vacant land or redevelopable land at minimum densities (units/acre) high enough to make affordable housing a viable option. The cost to build per unit decreases as the number of units per acre increases. Lower per unit costs make development an option for affordable housing developers as well as market-rate developers. The affordable housing allocation does not mean the City is forced to build this number of affordable units. However, the City must ensure the opportunity for affordable housing exists by guiding adequate vacant or redeveloped land for higher densities to meet the stated share. To determine if the City can achieve the identified number of units, it is necessary to identify which future land use designations count towards the Affordable Housing Allocation need. According to the Metropolitan Council, any residential future land use designation that has a minimum density of 8 units per acre or more will count towards affordable housing allocation calculations. Table 4.12 features the future land use designations for Prior Lake and the minimum units per acre. City of Prior Lake Housing 2040 Comprehensive Plan Page 49 Table 4.12 – Future Land Use Designations Land Use Minimum Density (units/acre) Qualify for Affordable Housing Rural Residential 1 unit/40 acres No Urban Low Density Residential 2.5 No Urban Medium Density Residential 4.0 No Urban High Density Residential – L 8.0 Yes Urban High Density Residential – H 30.0 Yes Mixed Use 30.0 Yes Town Center 30.0 Yes Any vacant or redevelopable land designated as High Density Residential – L, High Density Residential – H, Mixed Use, or Town Center is counted in the affordable housing allocation calculations. In Table 4.13 below, the net developable or redevelopable acres of each applicable land use have been multiplied by the minimum units per acre to determine the minimum number of units that could be developed. The Mixed Use and Town Center only require a proportion of their developable or redevelopable land to be residential, so those percentages apply to the unit count for this calculation. Developable acreage does not include unbuildable areas, such as right-of-way, open water, and wetlands. Table 4.13 – Development Potential for Affordable Housing Allocation Land Use Total Developable Acres (2017) Min Units/Acre Min % Residential Units Urban High Density Residential – L 49.48 8.0 100% 396 Urban High Density Residential – H 12.37 30 100% 371 Mixed Use 8.72 30 75% 196 Town Center 29.41 30 33% 291 Total 99.98 1,254 Staged Acres from 2021-2030 Urban High Density Residential – L 20.00 8.0 100% 160 Urban High Density Residential – H 4.00 30 100% 120 Mixed Use 6.54 30 100% 196 Town Center 9.71 30 100% 291 Total 40.25 767 With the available vacant land in the High-Density Residential designations, and the potential for redevelopment in the Mixed Use and Town Center designations, the City of Prior Lake has enough land to meet its allocation of affordable housing. City of Prior Lake Housing 2040 Comprehensive Plan Page 50 Housing Implementation Plan Table 4.14 – Existing Housing Needs Implementation Tools Identified Need Available Tools Circumstances and Sequence of Use Maintain, manage and preserve existing housing stock Rental Housing Registration Program The City would consider the possibility of adopting a rental housing registration program in the future. Small Cities Development Grant On a case-by-case basis, the City will evaluate whether this program is appropriate to assist with residential rehabilitation in targeted areas of the community where the housing stock is older and in need of rehabilitation. Scott County Community Development Agency (CDA) We will coordinate with the Scott County Community Development Agency to best align their resources with this stated need. CDA programs include, but are not limited to, affordable mortgage products, first-time homebuyer counseling/education, and post- purchasing homeowner counseling and education. Local Funding Sources We will explore and promote programs offered through the Twin Cities Habitat for Humanity, Minnesota Housing and Finance Agency, and USDA Rural Development for residential rehabilitation. Provide access to public programs and financial programs Scott County CDA We will coordinate with the Scott County Community Development Agency to best align their resources with this stated need. Referrals The City will work with the CDA to provide information on potential resources to the best of its ability. Senior Housing TIF It is unlikely the City will support TIF for this use. Scott County CDA We will coordinate with the Scott County Community Development Agency to best align their resources with this stated need. Referrals We will review and update our reference procedures and training to applicable staff by 2025 to ensure we have the ability to refer residents to any applicable housing programs outside the scope of our services. Participation in Housing- Related Organizations The City will consider working with groups of stakeholders to develop guiding principles, frameworks, and action plans to consider and incorporate the needs of older residents into development decisions Expand housing options City Ordinance We will review our Zoning and Subdivision Ordinances by 2022 to ensure regulations allow the construction of a variety of housing types. City of Prior Lake Housing 2040 Comprehensive Plan Page 51 Table 4.15 – Projected Housing Needs Implementation Tools Identified Need Available Tools Circumstances and Sequence of Use Allocation of Affordable Housing Need below 30% AMI (107 units) Guiding land at densities supporting affordable housing See Future Land Use Plan Scott County CDA We will coordinate with the Scott County Community Development Agency to best align their resources with this stated need. Tax Increment Financing It is unlikely the City will use TIF for housing development. Tax Abatement It is unlikely the City will use this tool for this type of housing development. Local Funding Sources The City will consider supporting/sponsoring an application to Livable Communities Account program for multi- family rental proposals with units suitable for large families, and in areas guided for high density residential. Local Funding Resources: HOME We would consider, on a case by case basis, the possibility of an application for HOME funds to address this housing type. Super RFP The City will consider supporting/sponsoring an application to Super RFP programs for housing affordable at less than 30% AMI in the highest density locations of our future land use map. Housing Bonds The City will consider issuing Housing Bonds to support this housing type in our highest density locations of our future land use map. Site Assembly The City will consider supporting/sponsoring an environmental clean-up grant application for housing affordable below 30% AMI. The City will consider acquiring and assembling sites through EDA powers as opportunities arise. Allocation of Affordable Housing Need between 31% and 50% AMI (63 units) Guiding land at densities supporting affordable housing See Future Land Use Plan Scott County CDA The City will coordinate with the Scott County Community Development Agency to best align their resources with this stated need. Tax Increment Financing It is unlikely the City will use TIF for housing development. Tax Abatement It is unlikely the City will support Tax Abatement for this use. Local Funding Sources The City will consider supporting/sponsoring an application to Livable Communities Account program for multi- family rental proposals with units suitable for large families, and in areas guided for high density residential. Local Funding Th City will consider, on a case by case basis, City of Prior Lake Housing 2040 Comprehensive Plan Page 52 Table 4.15 – Projected Housing Needs Implementation Tools Identified Need Available Tools Circumstances and Sequence of Use Resources: HOME the possibility of an application for HOME funds to address this housing type. Super RFP The City will consider supporting/sponsoring an application to Super RFP programs for this use in the highest density locations of our future land use map. Housing Bonds We would consider issuing Housing Bonds to support this housing type in our highest density locations of our future land use map. Site Assembly The City will consider supporting/sponsoring an environmental clean-up grant application for this use. The City will consider acquiring and assembling sites through EDA powers as opportunities arise. Community Land Trust If Scott County CDA implements a community land trust program, the City will consider a partnership supporting homeownership for households between 31 and 50% AMI. Allocation of Affordable Housing Need between 51% and 80% AMI (124 units) Guiding land at densities supporting affordable housing See Future Land Use Plan Scott County CDA We will coordinate with the Scott County Community Development Agency to best align their resources with this stated need. Tax Increment Financing It is unlikely the City will use TIF for housing development. Tax Abatement It is unlikely the City will support Tax Abatement for this use. Local Funding Sources The City will consider supporting/sponsoring an application to Livable Communities Account program for multi- family rental proposals with units suitable for large families, and in areas guided for high density residential. Local Funding Resources: HOME The City will consider, on a case by case basis, the possibility of an application for HOME funds to address this housing type. Super RFP The City will consider supporting/sponsoring an application to Super RFP programs for this use in the highest density locations of our future land use map. Housing Bonds The City will consider issuing Housing Bonds to support this housing type in our highest density locations of our future land use map. Site Assembly The City will consider supporting/sponsoring an environmental clean-up grant application for this use. The City will consider acquiring and assembling sites through EDA powers as City of Prior Lake Housing 2040 Comprehensive Plan Page 53 Table 4.15 – Projected Housing Needs Implementation Tools Identified Need Available Tools Circumstances and Sequence of Use opportunities arise. Community Land Trust If Scott County CDA implements a community land trust program, the City will consider a partnership supporting homeownership for households between 51 and 80% AMI. Lot Inventory Guiding land for a variety of residential development See Future Land Use Plan City Ordinance We will review our Zoning and Subdivision Ordinances by 2022 to ensure regulations allow the construction of a variety of housing types. Development Processes We will review development processes by 2024 to ensure development applications are processed in a fair and timely matter. Maintain, Manage and Preserve Existing Housing Stock 4d tax incentive program It is unlikely the City will support tax incentive programs for this use. Housing Improvement Areas It is unlikely the City will designate Housing Improvement areas for this use. Referrals The City will work with the CDA to provide information on potential resources to the best of its ability. Preservation of Low- Income Housing Tax Credit properties The city will explore possibilities for preserving existing low-income housing tax credit properties with Minnesota Housing and the Scott County Community Development Agency. General Housing Needs Fair Housing Policy The City will consider adopting a Fair Housing Policy.