Agenda - Council - 06/28/2016 - Laserfiche WebLink

Home

Priority Funding for Housing Performance" (http://www.metrocouncil.org/METC/files/a4/ a4b8b13d-dbeb-43ba-8fcf-c32c0c9ffe7f.pdf). The Council will move to a new approach to calculating Housing Performance Scores in 2015. Indicator #10: Affordable Housing Units Funded with etropolitan Council Programs We derive this information from Livable Communities Act applications, which contain data from various funding sources: Livable Communities Demonstration Account (also including TOD grants), Tax Base Revitalization Account (also including TOD grants), Local Housing Incentives Account, and the Inclusionary Housing Account. U.S. Census Bureau, 2009-2013 American Community Survey Public Use Microdata Sample. 22013 and 2014 MetroGlS Regional Parcel Datasets. We examined the 2013 assessed market value for homesteaded units and classified them as affordable at or below 30% of AMI if the value was $74,000 or less; affordable between 31 % and 50% of AMI if the value was between $74,001 and $133,000; and affordable at 51% to 80% of AMI if the value was between $133,001 and $217,000. These are the values at which estimated monthly mortgage payments —including principal, interest, property taxes, and insurance —are no more than 29% of the monthly income for a family of four at these income levels. We then adjusted the resulting counts to better match the Council's 2013 estimates of housing units and the tenure distribution in the 2013 American Community Survey. 3 U.S. Census Bureau, 2008-2012 Comprehensive Housing Affordability Strategy (CHAS) data. This data provides counts of units that are affordable to households with income at or below 30% of AMI, between 31 % and 50% of AMI, and between 51 % and 80% of AMI. ("Affordable" in this context means that the combined cost of rent and utilities is no more than 30% of the monthly income of a household that could live in the unit without overcrowding. The specific threshold for affordability thus varies by unit size and AMI threshold.) We adjusted the resulting counts to better match the Council's 2013 estimates of housing units, the tenure distribution in the 2013 American Community Survey, and the affordability distribution of rental units in the 2013 American Community Survey Public Use Microdata Sample. 4 Metropolitan Council, 2013 Manufactured Housing Park Survey. We assume that all manufactured homes are affordable to households with income at or below 30% of AMI. 5 U.S. Census Bureau, Longitudinal Employer -Household Dynamics (LEHD) Origin -Destination Employment Statistics (LODES), 2012. "Low -wage jobs" are those paying $3,333 or less per month (equivalent to $40,000 or less per year). "Residents who work in low -wage jobs" are people whose primary job is a low -wage job. We also examined ratios based on areas within five miles of the community's population center; results were very similar. 6 U.S. Census Bureau, 2009-2013 American Community Survey Public Use Microdata Sample and Metropolitan Council's March 2015 update to the regional forecast. Metropolitan Council staff estimates based on U.S. Census Bureau 2009-2013 American Community Survey Public Use Microdata Sample. 8 Forecasts developed by Metropolitan Council Environmental Services with input from Council Research staff, and supplemented by Council Research estimates of growth in municipal -serviced areas. In some communities where the sewer network expands to cover existing households, these numbers produce higher net household growth than the total growth forecast. In these cases, we used the total growth forecast to avoid conflating changes in household growth with changes in the sewer network. 9 Like the mean, the standard deviation is a statistic that summarizes a set ("distribution") of numbers. Where the mean represents the average score, the standard deviation represents the average distance of communities from the mean. Higher standard deviations indicate that a distribution has more "spread," rather than being tightly clustered around the average score. 10To do this, we divide the Z scores for affordable housing and job/worker balance by 3.34, the standardized score with the highest absolute value. 11 Under our methodology, the adjusted allocations for all communities add up to 38,211. This is higher than the regional Need of 37,900, so we adjust all allocations proportionately downward to achieve the regional Need. 12 Entries may not equal the difference between Columns A and B due to rounding. 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. Appendices