Agenda - Planning Commission - 09/04/2014

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Last revised July 24, 2014 • Support existing efforts such as Urban Land Institute of Minnesota and Regional Council of Mayors' Redevelopment -Ready Guide that further the creation of a full range of housing choices. • Expand viable housing options by investing in and encouraging new affordable housing in higher -income areas of the region, particularly in areas that are well-connected to jobs, opportunity, and transit. Local role • Provide resources for housing construction or rehabilitation either directly or through funding programs such as Community Development Block Grants. • Utilize existing resources such as the Urban Land Institute's Minnesota Housing Policy Toolbox to create strategies that encourage a range of housing choices at the local level. • Work with local employers to understand and help support and promote the local housing choices their employees need. • Communicate the importance of a range of housing choices to support prosperity. Expand opportunities for households to reduce their combined costs of housing and transportation The combined cost of housing plus transportation (H+T) consumes a disproportionate amount of household income. By one recent estimate, eliminating an automobile can save a household more than $9,000 annually —money that could otherwise be used to support the local economy. Even reducing miles driven can save a significant amount of money for a household. For many, considering housing plus transportation costs together provides a meaningful lens to evaluate tradeoffs. Some households may be willing to drive further for work because they value having a large yard or want their children to attend a particular school district. Others may be indifferent to having a yard, but find that stable good - paying employment requires a long commute. An affordable home in a desirable neighborhood and school district is not a viable option for a household unable to reach a job in a reasonable amount of time at a reasonable expense. As the regional transit system develops, more residents will have more transportation options. Considering housing plus transportation costs together can inform household decisionmaking as well as regional and local planning. Council role • Provide information on regional and sub -regional cost burden levels and trends, housing and transportation costs. • Encourage a full range of housing options in locations that allow for good walking or biking commutes, or convenient transit commutes. Local role • Consider both housing and transportation costs in local planning processes. • Identify opportunities to improve links between existing housing clusters and job concentrations. • Explore how to improve residents' ability to access jobs, services, and amenities without a personal vehicle. 2040 HOUSING POLICY PLAN I METROPOLITAN COUNCIL DRAFT RELEASED FOR PUBLIC COMMENT Part II: Outcomes (Prosperity) I Page 26