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10. Senior Skilled Nursing <br />11. Assisted Living /Memory Care <br />12. Condominium <br />13. Single - Family Detached <br />14. Single - Family Attached <br />Minimum Thresholds <br />The sub - committee agreed to utilize the existing Housing Goals and Implementation Strategies of the <br />Comprehensive Plan as Minimum Thresholds. It is recommended that each development requesting housing <br />assistance identify at least one existing goal /implementation strategy as Step #1. A development requesting <br />assistance would need to be able to prove successful achievement of an implementation strategy in order to move to <br />the formal review. <br />Scoring Matrix <br />The scoring matrix is divided between affordable (aimed at units prices below 80% or area medium income) and <br />market rate (units priced above 80% AMI). A report regarding affordable housing thresholds from the Metropolitan <br />Council is attached for comparison purposes. <br />The scoring matrix then provides points based on each individual project. Points can be awarded for additional <br />affordability levels, construction of senior housing, and provision of specialized senior housing, inclusion of <br />development amenities, amount of private financing, redevelopment, architectural standards, development <br />standards and energy efficiency. <br />Staff has been reviewing this policy against previous projects and has had the draft reviewed by peer communities <br />that have similar policies and /or programs. Before bringing forward to final adoption by the City Council, Staff is <br />bringing this topic to the EDA for review, comment, and recommendation as it relates to the financial component of <br />this policy. <br />Timeframe: <br />30 minutes <br />Funding Source: <br />General Fund (Planning and Zoning) <br />Responsible Party(ies): <br />Development Services Manager <br />Outcome: <br />The desired outcome of this topic report is to provide feedback on the current draft Housing Assistance Policy to <br />help guide to final completion of this policy. The Planning Commission recommends approval of the policy. <br />Additionally, the City Council reviewed this topic at their January 28, 2014 Work Session and indicated general <br />support, and directed Staff to receive a recommendation from the EDA. <br />Market Rate Policy <br />Affordable Policy <br />Affordable Housing Thresholds <br />Attachments <br />Form Review <br />