Agenda - Planning Commission - 10/03/2013

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Housing Assistance Polic DRAF. ■ Background The City Council and the Housing and Redevelopment Authority (HRA) of the City of Ramsey have determined that a policy is necessary to review requests for financial assistance related to housing projects. Scoring Process Projects will be scored on a two (2) step process: 1) Minimum Thresholds and 2) Priority Scoring. Priority scoring is divided between affordable housing projects (targeting households below 80% of AMI and market rate housing projects (targeting households 80% and above AMI. All projects must meet or exceed the minimum thresholds. Priority scoring will be used to gauge the quality of the project and used to rank projects in the event of multiple proposals. The City reserves the right to reject any and all applications if it deems necessary. The amount of funds that will be provided, when grant money (or other funds) are available, (on a per unit basis) will be capped between $4,000 -8,000 per unit. Project Brief Please briefly describe your project. This section will be used as general background on the project, and is not intended to be a full analysis of the project. This project description will be used for short marketing pieces if assistance is approved. Project Details Number of Units # of Units Market Rate 80% AMI 60% AMI 50% AMI 30% AMI Total # of Units Minimum Threshold: All applicants must meet one of the following minimum thresholds listed below. These are goals and implementation strategies from the City's Master Housing Plan, adopted as part of the City's 2009 Comprehensive Plan update. Check which threshold best matches your project and describe how your project will meet the implementation strategies. Housing Assistance Policy Draft — Affordable (9/27/13) 2 Goal 1: Provide a variety of housing options for people at all life stages and income levels to encourage existing residents, and attract new residents, to stay in Ramsey throughout their lives.. Housing opportunities should include a mixture of rental and owner - occupied to provide life -cycle housing choices meeting a full spectrum of demographics. [Describe how your project will use one of the following implementation strategies to achieve this goal. Word limit = 500 words] Housing Assistance Polic DRAF. ■ Background The City Council and the Housing and Redevelopment Authority (HRA) of the City of Ramsey have determined that a policy is necessary to review requests for financial assistance related to housing projects. Scoring Process Projects will be scored on a two (2) step process: 1) Minimum Thresholds and 2) Priority Scoring. Priority scoring is divided between affordable housing projects (targeting households below 80% of AMI and market rate housing projects (targeting households 80% and above AMI. All projects must meet or exceed the minimum thresholds. Priority scoring will be used to gauge the quality of the project and used to rank projects in the event of multiple proposals. The City reserves the right to reject any and all applications if it deems necessary. The amount of funds that will be provided, when grant money (or other funds) are available, (on a per unit basis) will be capped between $4,000 -8,000 per unit. Project Brief Please briefly describe your project. This section will be used as general background on the project, and is not intended to be a full analysis of the project. This project description will be used for short marketing pieces if assistance is approved. Project Details Number of Units # of Units Market Rate 80% AMI 60% AMI 50% AMI 30% AMI Total # of Units Minimum Threshold: All applicants must meet one of the following minimum thresholds listed below. These are goals and implementation strategies from the City's Master Housing Plan, adopted as part of the City's 2009 Comprehensive Plan update. Check which threshold best matches your project and describe how your project will meet the implementation strategies. Housing Assistance Policy Draft — Affordable (9/27/13) 2