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Each local official control that is adjusted, waived, or utilized to help make an <br />0.15 point each <br />affordable development possible <br />At least 5% of new housing units permitted in the previous calendar year are <br />5 points <br />affordable to households earning 80% of AMI) (must permit at least 10 new units to <br />be eligible for points) <br />Note: Cities and townships that accrue more than the maximum points in this category will receive only <br />the maximum points. <br />Substantial Rehabilitation or Preservation of Affordable or Mixed-Income Housing <br />Preservation of existing affordable housing is often the most cost-effective approach to addressing <br />affordable housing challenges. As the region’s affordable housing stock ages, addressing the physical <br />needs of the existing stockbecomes more and more critical to avoid the unnecessary loss of <br />affordability. For these purposes, the threshold for substantial rehabilitation is defined as: <br />1.The cost of repairs, replacements and improvements exceeds thegreaterof 10% of the <br />estimated property replacement cost after completion of all repairs, replacements and <br />improvements, or $5000 per unit in repairs, replacements and improvements, OR <br />2.Two or more major building components are being substantially repaired or replaced. <br />Preservation efforts are rehabilitationefforts that physically improve the asset and: <br />1.prevent the owner from opting out of a federal or state project-based rental assistance program <br />(i.e., owner conversion to market rate) OR <br />2.have as a condition of low-cost public financing that the owner consents to continue <br />participation in a federal or state project-based rental assistance program for the term of the <br />mortgage or applicable legal instrument. <br />The following points will be awarded based on activities over the past 10 years and for up to 10 <br />affordable or mixed-income substantial rehabilitation or preservation projects: <br />Each rehabilitated/preserved unit serving a household at or below 30% of AMI1 point each <br />Each rehabilitated/preserved unit serving a household between 31% and 50% of <br />0.25 point each <br />AMI <br />Each rehabilitated/preserved unit in arecent project serving a household between <br />0.1 point each <br />51% and 80% of AMI <br />Each rehabilitated/preserved owner-occupied unit serving a household earning <br />0.05 point each <br />between 81% and 115% of AMI <br />Each substantial rehabilitation/preservation project with at least 2% local <br />2 points each <br />contribution to the TDC <br />Each local official control that is adjusted, waived, or utilized to enable the <br />0.15 point each <br />rehabilitation or otherwise benefit the property <br />Preservation efforts (defined above) 5 points <br />Page - 51|METROPOLITAN COUNCIL <br /> <br />