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Consensus of the BRA was to incorporate the following amendments into the City of Ramsey Master Housing Plan: . Amend terminology of "middle adults" and "middle aged adults" - to be consistent throughout the document . Page 10, Metropolitan Council Livable Communities Act Affordable Housing Goals: Clarify amount of $1,177 is a rent payment, rather than a mortgage payment. Commissioner Look questioned how the HRA will achieve the required percentage of affordable housing as stated in the Plan. He stated the BRA does not own the rental properties and questioned how they will control the market rate. Ms. Capone Bennett stated depending upon the tools and strategies that the BRA has before them, they probably cannot mandate this rental rate unless they provide financial assistance to a project, at which time they can require that some affordability be reached. Ms. Capone Bennett stated the Met Council will be looking to see that Ramsey's Comprehensive Plan has enough land in the mix of future developable land that is guided medium to high density. Secondly, in the implementation section of the Master Housing Plan it states that the HRA will consider trying to achieve those affordability goals where they have legal control to do that. Commissioner Look asked how many affordable units are required. Ms. Capone Bennett replied 1,140 affordable units are required between 2011 and 2020. This is the amount that the Metropolitan Council has said is Ramsey's local share; this includes both . ownership and rental units. Commissioner Look expressed concern about including over 100 affordable units per year, and stated it is a goal they cannot meet. Commissioner Strommen stated the other option is that instead of mandating, to try to offer incentives to encourage people to include the affordable units voluntarily. The point is to try to get to the goal through different tools. Commissioner Elvig pointed out there are also outside sources such as ACCAP that have built projects, and there are apartment builders that are interested in this area. . BRA Executive Director Frolik noted pages 24 - 27 of the Plan discuss tools. available to meet this goal. Commissioner Look stated he would like the record to indicate that given the current taxes on a property, a rental rate of $1,177 will not cashflow. A subsidy will be required every month. The residents of the City may not agree with a goal of 1,140 affordable units with every one of them subsidized. Interim Assistant Community Development Director Geisler explained the 1,140 units is a percentage based on the amount of growth expected in the City. The number will fluctuate with the actual growth. Housing and Redevelopment Authority / February 12, 2008 Page 3 of 5 3