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

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Table B-5. Calculation of Shares for Band Breakdown Band LAj u "Equal Adjustment Adjusted share" for from Step 1 share of each band allocation to place in band (A + B) LDj Share of allocation to place in band (bench marked) Golden Valley West St. Paul At or below 30% AMI 31% to 50% of AMI 51% to 80% of AMI At or below 30% AMI 49.9% 24.9% 25.2% 49.9% 47.8% 31.2% 21.0% 51.7% 47.7% 29.8% 22.5% 51.6% 31% to 50% of AMI 24.9% -6.3% 18.7% 17.7% 51% to 80% of AMI 25.2% +4.4% 29.6% 30.6% • Step 3: Apply the shares from Step 2 to the total allocation from Part 2. In this step, we use these shares (Column D of Table B-5) to break the total allocation developed in Step 2 of Part 2 into the bands of affordability. The resulting allocations in each band, shown below in Table B-6, address the differences in affordability within the set of affordable units in each community while maintaining the total allocation that address the differences in affordability (as well as iob/worker balance) across communities. For example, Golden Valley's total allocation is higher than West St. Paul, largely because Golden Valley has a lower share of existing affordable housing than West St. Paul does. But because a higher share of Golden Valley's existing affordable units lie in the 51-80% band than in West St. Paul, Golden Valley's allocation in the 51-80% band is reduced, and West St. Paul's allocation in the 51-80% band is increased, such that Golden Valley's allocation in this band is actually lower than West St. Paul's. 13 Entries are calculated by using the shares in Column C to calculate the number of units in each band in each community, then adjusting those numbers so that they add up to the regional Need in each band. We omitted those intermediate calculations from Table B-6 for brevity; the point is that the resulting shares, shown in Column D, are those needed to attain the regional Need in each band. Page - 27 1 METROPOLITAN COUNCIL