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In order to achieve a balance, an adeauate supply of residential land must be available within the ~,~SA area. By assuring an adequate supply, the City can achieve multiple goals consistent with MC's policies. They are: Provide a variety of housing opportunities within the Community in terms of developmentpa~e~ns,~ ~ land use, and _~iving styles. Encourage growth within the urban area by providing quality development opportun~ties~ At the same time, development pressures within the rural area may be reduced. - Enhance the City's economy by providing a growth orienzed environment which encourages development in an orderly manner. Capture some of the urban development activity occurring in communities outside of the seven county area due to the leap- frogging caused by restricted development opportunities on the fringe of the I~etropo!itan Region. While 140 acres are zoned residential within the MUSA and are currently undeveloped, discussions with landowners indicate that the majority have no interest in developing this land in the near future. With less than a one year supply of urban lots, it becomes imperative for the City to encourage additional development. Expansion of the 5EJSA area would bring additional !and into development by willing lando%~ers. It also would help to keep the price of urban lots lower by increasing supply thereby helping to achieve both city and Regional goals of affordable housing. Figure ~ .... ~us~a ~es those areas in the city for which .oreliminary plats have been submitted and are proposed to be .included within the 2000 1,~SA .area. The plats.are in various stages of the review pro- cess. Only one, Windemere Woods, with 51 lots, is in the !990 >~SA area. All are proposed to be developed at urban densities and com- mrise a total of 342 lots. Collective and individual discussions with the developers indicate that each of the developers expect a three to ~ time ~ ~.ve year frame for full development of the plats. __ current trends continue with apprczimate!y 200 building permits issued each year, of which 42% are in 5he urban area, the proposed plats represent approximately a four year supply of urban lots. If the City is suc- cessful in encouraging mere development within the urban area, this supply could represent !ess than a four year supply. The five year hisnorical average nu~er cf new residential building pa~its issued is Z25 permits per year. in the last two years, 44% of the pe.~its issued have been for homes in the urban area. if it is assumed that hous~_nm~ starts will d~c~e ..... somewhat over the ne>it !2 years (due to economic cycles, cost of homes, interest, etc.) to 75~ of the five year average, !00 pe_-n~its a years would be issued, if the City is success=~ ~ encouraging development in the urban area rather than ~aral areas, 75% of the new homes will be developed in the urban area. At 3.5 units per net developable acre, 22 acres per year would be absorbed by residential development. Over the ne>~t twelve years