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132 <br />Strategy: Increase community knowledge of affordable housing <br />Policies and Actions: <br />1. Roll out the "Can I Be Your Neighbor?" initiative <br />Housing Affordability <br />When determining housing affordability,developers target Income <br />ranges of future residents. The most commonly targeted income <br />ranges are 0-30%, 31-60%, and 61-80%of average median income <br />(AMI). In actual dollars, this breaks down le: <br />City of Ramsey (2015) Average Annual Medan Income <br />100A of AMI = $86,800 <br />61-80%af AMI - $52,081-69,440 <br />31-60% of AMI = $26.041-52.980 <br />0-30% of AMI = $0-26,040 <br />Housing Costs <br />There is a general rule in finance that people should spend no more <br />Ihan 30%of lheh income on housing costs. Rased on Ramsey s AMI, the <br />following represents what people in different income ranges should be <br />spending on housing (including mortgage and rent) per month: <br />Monthly Housing Cost Rased on AMI <br />100%af AMI= $2.170 <br />61-80%o AAA(= 1.303-1,736 <br />31-60% of AMI = $652-$1.302 <br />0-30% at AMI = $0-651 <br />Now that we understand the different Income leveh In Ramsey, we will match them with people in the community. Your child's teacher, your focal <br />firefighter, the senior yeu see on Sundays al church.. how much con these community members holy afford to pay for housing given their incomes? <br />Age: 88 <br />Occupation: Refired. Ramsey native <br />Annual income: $i 6,320 (Social Security) <br />Can I be your neighbor? <br />Age: 28 <br />Occupation: Firefighler <br />Annual Income: $34370 <br />3076 of Income: $869 per month <br />Can I be your neighbor? <br />Age: 37 <br />Occupation: Middle School Teacher <br />Annual Income: $62.300 <br />34%of Income: $1.557 per month <br />An Active and Connected Community <br />The City will attempt to eliminate barriers in fair housing through ongoing policy <br />development and evaluation informed by community engagement and fair housing <br />evaluations and data. Because many fair housing barriers are regional in nature, the City <br />will participate in regional efforts to eliminate racial disparities and fair housing barriers. <br />As Ramsey attempts to utilize HUD grants for future projects, we have the responsibility to <br />take meaningful action to eliminate discrimination and remove barriers that restrict access <br />based on protected characteristics, such as race, color, creed, religion, national origin, sex, <br />marital status, status with regard to public assistance, disability, gender identity, sexual <br />orientation, and family status. The City will examine policies, regulations, programs and <br />actions that both the City and its partners take to assess their impact on affordable housing <br />city of RAMSEY <br />Comprehensive Plan 2040 <br />