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131 <br />Strategy: Increase community knowledge of affordable housing <br />Policies and Actions: <br />1. <br />Roll out the "Can I Be Your Neighbor?" initiative <br />Housing fordsbilit <br />When determining housing affordability, developers t rge# Income <br />ranges of future residents. The most commonly targeted income <br />ranges are 0-305, 31 , and 61-80% of average median income <br />(AMI). In actual dollars. this breaks down le: <br />City of Ramsey (2015) Average Annual Median Income <br />1(X)%ofAMI =$ , <br />61-8 of ] - . 52 1-69, 410 <br />1-6C a cif ,AMI =$26,041-52,080 <br />C. 3of 1 I - $0._2 40 <br />Housing Costs <br />There is a general rule in finance that people should spend no more <br />than their income on housing costs. Based on Ramsey"s AMI, the <br />following represents what people in different income ranges should be <br />spending on housing {including roorlga e and rural) per month: <br />Monthly Housing Cost Based on AMI <br />of Advil= $2,I7 <br />61 C of AMI - $1 „303-1,736 <br />31 60 of AMl - 652 11.302 <br />o.-an or AMI = $0--651 <br />Now 1 hu l ire L s id ers I an d [he different income levels in Ramsey, we will mulch :hum wilh people in the community. Year child's teacher, your local <br />firefighter, Ihe senior you see on Sundays al church.. .how much con these community members truly afford to pay for housing given their incomes? <br />Can I be your neighbor? 7 <br />WIPP' <br />Age: 8 <br />Occupation: Retired, Ramsey native <br />Annual income: $16.320 ecuri <br />307. of Income: 5,1.08 per month <br />Can I be our neighbor? <br />Age: }8 <br />Ccc upatfon: Fireiiprifer <br />Annual Income:.$34,77 <br />357 of Income.: - 6{? der month <br />Can I be your neighbor? <br />Age:. 7 <br />Occupation: Middle School Teacher <br />Annual income: $2. <br />307. 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 />ComprehensivePlan 2040 <br />