Agenda - Economic Development Authority - 04/13/2017

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City of Ramsey 2030 Comprehensive Plan Update Chapter 7:Housing Plan D. Housing Goals & Policies Providing a balanced community with a variety of housing stock is essential to the future stability of a city in terms of property value, ability to attract quality commerce and industry and support the services of the city. The following housing goals were developed by the City's Housing &Redevelopment Authority(HRA) as a guide for providing direction regarding development and distribution of housing financial resources. The Ramsey City Council serve as the board of directors of the HRA and evaluated citizens comments and discussions surrounding Ramsey's current and future housing needs in framing these housing goals. HOUSING GOAL#1: Provide a variety of housing options for people at all life stages and income levels to encourage existing and future residents to stay in Ramsey throughout their lives and to achieve a balanced housing supply. SUPPORTIVE FINDINGS: 1. Ramsey's population consists of primarily middle-aged adults and children. Children (ages 0- 17) and middle adults (ages 2544) compose 67% of the total population, which is substantially higher than the region (58%). An additional 23% are older adults (ages 45-64). Only 7% of the population is young adults (18-24) and 3% are seniors (over 65). Compared with the region,Ramsey has a substantially lower percentage of young adults and seniors. However, the senior population shows the greatest difference. The region's senior population is 10% of the total population, while the senior population in Ramsey is only 3%of the total. 2. Despite increases in children and middle-aged adults, the percentage of households that are classified as families with children decreased from 61% of the total population to 51%. This observation,combined with finding 91,indicates that the increase in children and middle-aged adults does not parallel the increase in the percentage of families in Ramsey. While the City is growing, and adding families, the percentage of the city defined as families with children is decreasing. This suggests that there is an increase in the number of families without children and middle-aged adults in non-family situations. This observation is important when assessing housing demand. It indicates that there is an increasing number and percentage of empty-nester households in Ramsey who may be exploring options to relocate,downsize,or age-in-place. 3. According to the market study conducted by Maxfield Research, the Ramsey Town Center provides the best market, land use, and shopping and transit opportunities for rental housing development. The area of the City where Ramsey Town Center lies is zoned for the highest density in the City. Furthermore, there are still many parcels available for housing development and the master plan calls for the development of market-rate and affordable rental housing opportunities. Maxfield Research concluded, as part of their market analysis, that Ramsey Town Center is the best location for any rental housing within the community. The proximity to transit and shopping makes Ramsey Town Center an ideal location for young people, seniors, and others who rely on public transportation. 4. Ramsey is beginning to diversify its housing stock by developing alternatives to single-family housing,thus expanding options for residents of all income levels and lifestyles. Reviewing the breakdown of the number of type of residential building permits issued in Ramsey since 1995 shows that the number of permits for single-family, detached housing has remained relatively steady,while the number of permits for townhomes has increased rapidly. This diversification contributes to Ramsey's housing goals. City of Ramsey 2030 Comprehensive Plan Page 7-I5