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2001 Comprehensive Plan Amended February 26, 2002 Table V-6 Available Land Inventory and Estimated Future Development Capacity Net Average Density of Land Use Developable Future Development Total Units Acres Units/Net Acre Low Density Residential 692 3 2,077 Medium Density (includes 37 acres of mixed use) 464 7 3,249 High Density (includes 75 acres of mixed use) 169 10 1,690 Future Urban Residential Totals 1,326 6.7 8,837 Future Permanent Rural~: Totals 2,228 0.3 668 Total All Future Lands 3,554 3.5 9,505 This analysis indicates that the future land use plan designates sufficient lands at urban densities to accommodate a total of 8,837 future urban housing units at an overall net density of 6.7 units per acre. This equates to a gross density of well over 3 units per acre when adding wetlands and major road right-of-way back into the equation. The future land use plan makes available approximately 400 acres of developable residential land within the current (2000) MUSA (including vacant platted lots). This amount of land should adequately accommodate a five-year supply of residential growth assuming land absorption of roughly 60 acres per year. MUSA should be expanded prior to a complete depletion of residential land. A critical issue with urban growth is the economic theory that when demand exceeds supply, raw land prices rise. Inflated land prices create barriers to affordable housing and encourage the use of lower quality building materials to offset high land values. Furthermore, having no available land for growth within the current urban area does not stop growth, rather it forces growth beyond its boundaries on larger rural lots creating low density, urban sprawl. b) Non-ResidentialLand Demand The market for industrial development has been good in the last 5 years. The City of Ramsey has benefited by this economic upswing seeing tremendous industrial growth. However, the current vacant land supply zoned for industrial use is rapidly dwindling. Roughly 120 acres of vacant land lie south of the landfill. Although negatively impacted by the presence of the landfill, this land provides a significant amount of ~: This includes both the Rural Preserve area (509 acres of vacant or ag land at a density of 1 unit per 10 acres or 51 projected units) and the Rural Developing area (1,726 acres of vacant or ag land at 1 umts per 2.5 acres or 690 units). Together the Permanent Rural area averages out to a density of 1 unit per 3 acres if developed as planned. Ramsey Comprehensive Plan Amended February 26, 2002 Page F-35