Denver9/28_Ken Kirkey

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Presentation from Partners in Innovation Policy Forum)in Denver, CO on September 28, 2010

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Denver9/28_Ken Kirkey

  1. 1. Creating Equitable Transit Neighborhoods in the San Francisco Bay Area Ken Kirkey Association of Bay Area Governments
  2. 2. Housing Plus Transportation Costs in Bay Area The high combined costs of housing and transportation leave many Bay Area households with insufficient remaining income to comfortably meet their basic needs. Average Annual Average Annual Average Annual Housing Housing Costs Transportation Costs + Transportation Costs $28,045 $13,375 $41,420 _____________ % of Income + _____________ % of Income = _____________ % of Income 39% 20% 59% Housing Transportation Combined Boston $22,373 $11,927 $34,300 Boston (%) 35% 19% 54% D.C. $22,960 $13,234 $36,194 D.C. (%) 29% 18% 47%
  3. 3. Bay Area H+T Affordability Study Housing Costs as % of Income for Moderately Low-Income Households ($35-60K)
  4. 4. H+T: Moderately Low Income Housing + Transportation Costs as % of Income for Moderately Low-Income Households ($35-60K)
  5. 5. Low Income H+T Options Few H+T Costs as % of Income for Low-Income Households (< $35K)
  6. 6. H+T Conclusions: Preserve and Promote Affordable Choices • “Drive till you qualify” does not meet the region’s need for affordable options • Lower-income households face a disproportionate affordability burden and few choices Source: ForeclosureRadar.com
  7. 7. FOCUS - Regional Blueprint Plan based on local plans and shared goals Over 55% of future housing Infill, TOD locations Unknown affordability for 2040 Proposed jobs, if built, exacerbate regional jobs/housing
  8. 8. Regional Housing Need & Construction: 1999-2006 250000 Above 200000 Moderate Moderate 150000 Low 100000 Very Low 50000 0 RHNA Allocation Permits Issued
  9. 9. Affordable Units Produced: RHNA 1999-2006 70000 60000 50000 40000 Unfurnished 30000 Permits Issued 20000 10000 0 Very Low Low Moderate
  10. 10. MTC/ABAG Planning Grants established in 2005 using Federal transportation $ • Supports existing and new transit • Fund cities to prepare land use plans up to $750,000 • Role of affordable housing to be addressed locally • What policies work best in different micro- climates? What minimums should we require? • Need for local partners to be active and effective, including Great Communities Collaborative
  11. 11. Planning Grants: Affordability Minimize displacement Set affordable housing of existing residents goals Provide a range of Accessibility/visitability housing options policies Consider appropriate Transportation for inclusionary housing Livable Communities requirements Fund – tied to RHNA, affordability
  12. 12. Choose to Participate: MTC & Affordable TOD Fund • Banks, insurance companies • Other direct commercial lenders 3. Senior loans • Bond financing • Foundations 2. Low-interest loans • Program Related Investments •Foundation grants 1. Equity or Grants •$10 million MTC grant funds from Transportation for Livable Communities
  13. 13. Bay Area Affordable TOD Fund • CHALLENGE – Affordable housing developers do not have sufficient access to capital to acquire or preserve property for affordable housing • OPPORTUNITY – Great Communities Collaborative, including San Francisco, East Bay, and Silicon Valley Community Foundations, propose Bay Area Affordable TOD Fund
  14. 14. CA SB 375 & the Sustainable Communities Strategy • Connects transportation and land planning and housing allocations (including affordable housing) • What transportation and affordable housing investments are needed for affordable access to essential services and jobs? ~$2 billion estimated need • What role must local jurisdictions play? How will regional agencies support them? • Leverage existing ABAG/MTC FOCUS Plan
  15. 15. Ken Kirkey kennethk@abag.ca.gov 510-464-7955 www.bayareavision.org

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