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Denver9/28_NHC PII

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

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


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Transcript

  • 1. Preserving Affordable Housing Near Transit Case Studies from Atlanta, Denver, Seattle and Washington, D.C. Sept. 27, 2010
  • 2. Preserving Affordable Housing Near Transit
    • Collaboration with NHT and Reconnecting America
    • Studied TOD in Atlanta, Denver, Seattle and Washington, D.C.
    • Identified 12 properties that successfully accessed new capital/funds to preserve affordable housing in planned TOD projects
    • Download a copy of the report: www.greencommunitiesonline.org/TOD
  • 3. Key Findings From the Report
      • Leveraging new sources of capital subsidy, local zoning incentives and pooled financing
      • Seeking flexible acquisition financing to hold properties until financing is available
      • Securing unsubsidized rental housing near planned transit
      • Engaging in collaboration with housing, transit and planning agencies
  • 4. TOD Opportunities in Atlanta
    • MARTA guidelines
    • Housing Opportunity Bond program
    • Beltline Affordable Housing Trust
    • Tax credits
    • Land Banking Authority
  • 5. TOD Opportunities in Denver
    • TOD acquisition fund
    • $19 million in NSP2 funds
    • Affordable Housing Policy to govern land disposition and joint development
  • 6. TOD Opportunities in Seattle
    • $145 million housing levy
    • Rainier Valley Community Development Fund
    • Incentive zoning programs
    • Washington Works program
  • 7. TOD Opportunities in Washington, D.C.
    • Housing Production Trust Fund
    • Bridge lending resources
    • Tenant Opportunity to Purchase Act
    • Tax-exempt bond financing with 4% LIHTC
    • Greater Washington 2050
  • 8. Preservation Strategies in Atlanta
    • Property:
    • Wheat Street Gardens
    • Strategies:
    • Targeting at-risk properties near transit
    • Targeting physically distressed properties
  • 9. Preservation Strategies in Denver
    • Property:
    • Jody Apartments
    • Strategies:
    • Acquisition of land/buildings prior to price appreciation
    • Land banking
  • 10. Preservation Strategies in Seattle
    • Property:
    • Brewster Apartments
    • Strategies:
    • Zoning incentives
    • New funding for rehab
    • Acquisition & targeting at-risk properties
  • 11. Preservation Strategies in Washington, D.C.
    • Properiy:
    • Martin Luther King Jr. Latino Cooperative
    • Strategies:
    • Tenant laws
    • Pooled financing
    • Targeting at-risk properties
  • 12. Taking on the Challenge in Your Community
    • Take an affordable inventory
    • Identify acquisition resources
    • Asses repositioning resources
    • Map out strategic partnerships
  • 13.