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

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ANOKA COUNTY HOUSING STUDY GENERAL OCCUPANCY RENTAL HOUSING • To be eligible for use in the Housing Choice Voucher program, units must have rents below the Metro HRA payment standard ($790 for one -bedroom units, $960 for a two -bedroom units, and $1,394 for three -bedroom units). Overall, about 80% of the County's market rate units had rents below the payment standard, which indicates the overall affordability of market rate housing in the County as well as the ability for HCVs to be utilized in a range of housing developments. • Program participants pay a minimum of 30% of their monthly adjusted income toward rent. The program provides rental assistance, which is the difference between the participants rent portion and the contract rent. To be eligible, households must have incomes at or below 50% of median; the following details income restrictions for by household size: 1 Person $27,500 2 Person $31,400 3 Person $35,350 4 Person $39,250 • Based on information supplied by the Metro HRA, the submarkets with the highest utilization of HCVs are the following: o Southern Leg — 489 units, 35.1% of County o Coon Rapids — 478 units, 34.3% of County o Anoka — 206 units, 14.8% of County o Blaine, Circle Pines, & Lexington — 169 units, 12.1% of County Pendine Rental Develonments One pending rental development was identified in Anoka County. Developer Flaherty & Collins received city approvals in November 2010 for development of a 230-unit general occupancy complex in Ramsey. The development is planned to include 214 luxury rental units, 16 for -sale townhome units, and first floor retail space. According the terms of the development agreement, Flaherty & Collins must start construction of project by June 30, 2011. The project, if it moves forward, is estimated to be substantially complete by June of 2013. MAXFIELD RESEARCH INC. 46