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Housing Assistance Policy- Market Rate <br />1 <br />Background <br />The City of Ramsey is committed to supporting well planned single family, multi -family development and <br />redevelopment as a necessary element to achieve the goals for well-balanced housing inventory meeting <br />the needs of residents during all life stages. The City Council and the Housing and Redevelopment <br />Authority (HRA) of the City of Ramsey have determined that a policy is necessary to review requests for <br />financial assistance related to housing projects to ensure any financially supported project meets Housing <br />Polices of the Comprehensive Plan and housing priorities established by the City and reviewed on a regular <br />basis. <br />Housing Priorities <br />To maximize the impact of City and HRA involvement, a priority list was developed by the Ad -Hoc -Sub - <br />Committee of the Planning Commission and is subject to City Council approval. This is a list of priorities <br />that the City believes would qualify for or is in the highest need of assistance, if available. This is not a <br />reflection of the amount of individual types of housing products that the City believes will develop overall. <br />This list is based off current market conditions, demographics and financial need for assistance. This list <br />will evolve over time, and will be revisited at least annually. With each project completed, the priority for <br />assistance will change. Priorities are listed below: <br />1. Senior Independent <br />2. Affordable/Workforce <br />3. Redevelopment <br />4. Energy Efficient <br />5. Rehabilitation of Existing <br />6. Amenity Rental (market rate) <br />7. Three plus bedroom Rental <br />8. Inclusion of Accessory Dwelling Units <br />9. Executive Single -Family <br />10. Senior Skilled Nursing <br />11. Assisted Living/Memory Care <br />12. Condominium <br />Scoring Process <br />Projects will be scored on a two (2) step process: 1) Minimum Thresholds and 2) Priority Scoring. Priority <br />scoring is divided between affordable housing projects (targeting households below 80% of AMI) and <br />market rate housing projects (targeting households 80% and above AMI). <br />Applicants shall meet at least one of the goals and related implementation strategies listed below. Please <br />provide a check mark in the box and on a separate sheet provide a brief explanation as to how the <br />proposed project will meet the goal. <br />Priority scoring will be used to gauge the quality of the project and used to rank projects in the event of <br />multiple proposals. The City reserves the right to reject any and all applications if it deems necessary. <br />2 <br />