This Policy promotes high quality housing located in the community for households with a variety of income levels, ages and sizes in order to meet the City of St. Louis Park’s goal of preserving and promoting economically diverse housing options in our community.
The City recognizes the need to provide affordable housing to households of a broad range of income levels in order to maintain a diverse population and to provide housing for those who
live or work in the City. Without intervention, the trend toward rising housing prices in new developments will continue to increase. As a result, this Policy is being adopted to ensure that a reasonable proportion of each new development receiving City financial assistance include units affordable to low and moderate income households and working families.
The requirements set forth in this Policy further the City’s Housing Goals and the City’s Comprehensive Plan to create and preserve affordable housing opportunities. These requirements are intended to provide a structure for participation by both the public and private sectors in the production of affordable housing.
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