Agenda - Council - 04/14/2015 - Laserfiche WebLink

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PROPOSED AMENDMENT TO THE 2040 HOUSING POLICY PLAN (as amended 3/16/15) (pagination reflects the 2040 Housing Policy Plan available on the Council's website) Executive Summary, page 1: Like a diversified stock investment portfolio, a diversity of housing types can increase local government resiliency through changing economic climates. Executive Summary, page 2: • More people will need affordable housing options: The Council forecasts that between 2020 and 2030, our region will add /19,500 37,400 low- and moderate -income households who will need new additional affordable housing. For comparison, in the first three years of this decade, the region added just under 3,000 new affordable units, far under the need. Executive Summary, page 3: To fully implement this plan, the Council has more work to do to finalize the changes to the Allocation of th• e housing element of local comprehensive plan updates. In 2015, the Council will formally amend this plan, including a formal public comment process, to incorporate the final updated methodologicc for the Allocation of Affordable Housing Need and the Housing Performance Scores and reflect any other updates. Introduction, page 5: Like a diversified stock investment portfolio, a diversity of housing types can increase local government resiliency through changing economic climates. Introduction, page 14: (Note that this ignores the need for affordable housing that existed in 2010, that is, the 60,000 nearly 140,000 households paying more than half of their income on housing—much less the additional 190,000 125,000 who are paying between 30% and 50% of their income on housing. These are the households that currently experience housing cost burden.) Introduction, page 14: Looking ahead, the Council forecasts that between 2020 and 2030, our region will add /19,500 37,400 low- and moderate -income households who will need new affordable housing options.' Even if we are successful at addressing today's housing cost burden, the challenges will continue to increase with the region's ongoing population growth. Part II: Outcomes (Prosperity), page 39: Page - 1 1 METROPOLITAN COUNCIL