Agenda - Planning Commission - 09/04/2014

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Last revised July 24, 2014 Equity Equity connects all residents to opportunity and creates viable housing options for people of all races, ethnicities, incomes, and abilities so that all communities share the opportunities and challenges of growth and change. Our region is stronger when all people live in communities that provide them access to opportunities for success, prosperity, and quality of life. Create viable housing options that give people in all life stages and of all economic means viable choices for safe, stable, and affordable homes Key takeaway: All residents in the region —people of all races, ethnicities, incomes, and abilities —need viable housing options for safe, stable, and affordable homes and neighborhoods. While households at all income levels want options for safe, stable, and affordable homes, the private market tends to provide fewer choices for households at lower incomes. As outlined in Part I, the need for affordable housing is growing in the region. But being affordable (housing is generally regarded as affordable when a household pays no more than 30% of its gross income for it) is only part of the puzzle —people want to live in places they feel good about and proud of, whether as a temporary life stop or as a long-term investment. They need a home, not just an apartment, a condo, a townhome or single family house. And perhaps above all, people need real choice in determining where, in what style, and with what amenities both inside and out their home might be. This is true along our blocks, in our communities as a whole, and across the metro. A region with truly viable housing choice is one that allows households to secure housing affordable to them, in communities where they would like to live, while also: • Matching their family size, whether growing, maintaining, or decreasing in size • Reflecting their household lifestyle, no matter where in the life cycle its members are • Providing a high level of access to quality employment and educational opportunities without having to travel great distances • Offering reasonable proximity to essential services, amenities, and retail • Including features that make life easier, particularly for individuals requiring special care • Fostering a sense of inclusiveness and welcoming for households of various types and origins To make such options a truly available reality, particularly where private market activity may prove spotty at best, will take a careful calibration of public and private activities that can: • Bring new jobs, people, development, and economic vitality into areas where historical or contemporary disinvestment has or is occurring • Expand the palette of market rate and affordable housing options —across the full region and including its central communities —supporting, creating, or bolstering shared housing markets • Maximize linkages between housing needs of all types and available opportunities of the same • Create incentives for common sense initiatives that highlight local housing assets, fostering inclusive development and making the most of local and regional resources Creating options means balancing competing priorities and needs. For example, while changing demographics suggest a need for more smaller units, housing cost burden is particularly acute among low or moderate income households seeking larger housing units that can accommodate a large or multigenerational family. 2040 HOUSING POLICY PLAN I METROPOLITAN COUNCIL DRAFT RELEASED FOR PUBLIC COMMENT Part II: Outcomes (Equity) I Page 28