Laserfiche WebLink
118 <br />Seventeen percent of all Ramsey households are cost -burdened, and the percent of lower income <br />residents who are cost -burdened (spending more than 30% of their income on housing) is much <br />higher than higher income residents. Creating and maintaining affordable housing options is a key <br />priority for the City of Ramsey, in order to support these residents. <br />In summary, the existing housing assessment shows that there are residents who could use <br />assistance from the City in order to reduce their housing costs. One route to reduce the number of <br />cost -burdened residents is to provide additional housing options, including affordable housing <br />options, across the City. The existing housing assessment also shows that housing in Ramsey is <br />sought-after. There is a low vacancy rate, and a low rental rate, which means that those who want <br />to move to Ramsey likely have to buy a single family home in order to move to the community. In <br />order to provide options for all types of residents, at all stages of life, different housing options, <br />including multi -family options and single-family rentals, the City should support these types of <br />projects. <br />Most of the homes in Ramsey were built in 1970 or after, with very few built after 2010. Many of <br />these homes will likely need reinvestment in coming years, such as putting in a new roof, updating <br />well and septic, or upgrading the interior finishes in the home. The City could consider options to <br />providing incentives for homeowners to make these improvements. <br />Land Supply <br />The Future Land Use Map guides the future land uses for the entire City of Ramsey. The areas <br />designated low density, medium density, and high density residential are sufficient to absorb the <br />City's necessary growth in housing and affordable housing allocations. The mass of the affordable <br />housing allocation will likely be in The COR area, which provides flexibility and density bonuses for <br />projects near the Northstar Commuter Rail Station. <br />With the City of Ramsey's knowledge of the area and land that is likely to develop, or projects that <br />have been started on vacant land, the City does not expect to have any issues meeting the projected <br />growth or affordable housing allocation. <br />city of RAMSEY <br />Comprehensive Plan 2040 <br />