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Affordable housing is defined as additional/new housing opportunities created in a community that are <br />affordable to households with an income at 60% or less of the area median income. The LCA goals are <br />expressed as a range where the minimum is a number equal to the portion of the community's share of the total <br />regional need for affordable housing units that can be expected to be funded based on the resources available.in <br />the region to create new affordable housing opportunities, and the maximum is the community's share of the <br />total regional need for new affordable housing units as identified by the Metropolitan Council and <br />acknowledged by the community in its 2008 Comprehensive Plan update. The proposed LCA Affordable <br />Housing Goals for 2011-2020 for the City is 434 to 669. Six hundred sixty nine is what we already have shown <br />in the Comprehensive Plan. It is important to note that there is no penalty for not reaching these goals. These <br />goals are established as a benchmark in determining distribution of financial resources available through the <br />LCA program. The LCA program provides resources in order to achieve the goals and strategies listed in the <br />Comprehensive Plan. <br />Life -cycle housing is defined as varied housing options that meet people's preferences and circumstances at all <br />of life's stages, providing a balance of single-family homes, apartments, condominiums, townhomes, and senior <br />housing for independent living or with a range of assisted -living services. The LCA goals are expressed as a <br />range where the minimum is the number of units equal to the community's share of the regional need for <br />affordable housing, and the maximum is the maximum number of units of medium, high, mixed-use, <br />redevelopment, TOD or similarly named residential units allowed by the future land use guided in the <br />community's Comprehensive Plan Update or the total forecasted household growth of the community to 2020, <br />whichever is less. The proposed LCA Life -Cycle Housing Goals for 2011-2020 for the City is 665 to 2430. <br />Funding: <br />Drafting and processing the ordinance is covered under regular City Staff time. <br />Action Statement: <br />Will be based on Council's discussion. <br />Reviewed by: Copies to: <br />City Administrator Director of Public Works <br />Associate Planner <br />CCWS: 06.08.10 <br />Attachments: <br />A) LCA Fact Sheet <br />