EXCERPT: “Balancing a goal of more affordable housing with the realities of the real estate market, the city of Edina has clarified a policy that dictates how it negotiates with developers. The Edina City Council voted unanimously April 3 to establish a $100,000 per unit buy-in amount that developers can pay in order to satisfy the city’s affordable housing requirements, which were established in 2015. For new multifamily complexes built in Edina, developers are required to price 10 or 20 percent of their units as affordable to renters who earn, respectively, 50 percent or 60 percent of the average median income. The buy-in option allows developers to avoid building affordable units on their own and instead give the city money to be used on affordable housing.” FULLSTORY: http://bit.ly/2JLHAiK