Agenda - Council - 01/10/1989 - Laserfiche WebLink

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In order to achieve a balance, an ade~aate supply of residential !and must be available within the MUSA 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 development patterns, land use, and living styles. Encourage growth within the urban area by providing quality development opportunities. At the same time, development pressures within the rural area may be reduced. Enhance the city's economy by providing a growth oriented 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 Metropolitan Region. While 140 acres are zoned residential within the ~SA 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 MUSA area would bring additional land into development by willing landowners. 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 3 illustrates those areas in the City for which preliminary plats have been submitted and are proposed to be included within the 2000 MUSA area. The plats are in various stages of the review pro- cess. Only one, Windemere Woods, %,ith 51 lots, is in the 1990 MUSA area. All are proposed to be developed at urban dens !~_es and com- w~ ~h prise a total of 342 lots. Collective and individual discussions the developers indicate that each of the developers expect a three to five year time frame for full development of the plats, if current trends continue %;ith approximately 200 building permits issued each year, of which 43% are in the urban area, the proposed plats represent approximately a four year supply of urban lots. if the City is suc- cessful in encouraging more development ~ithin the urban area, this supply could represent less than a four year supply. The five year historical average nu~er of new residential building permits issued is 155 permits per year. In the last two years, 44% cf the pe_~-mits issued have been for homes in the urban area. if it is assumed that housing starts will decline somewhat over the next 12 years (due to economic cycles, cost of homes, interest, etc.) to 75% of the five year average, !00 per~its a years would be issued, if the City is successful in encouraging development in the urban area rather than rural areas, 75% cf 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 next twelve years 6