SSC2011_Christoper Coes PPT
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LOCUS is a national coalition of real estate developers that advocates for sustainable and walkable development near transit. It works with policymakers to increase transit funding and incentivize transit-oriented development. LOCUS' legislative priorities include increasing overall transit funding through value capture, providing incentives for transit-oriented development through credit enhancement and tax incentives, and requiring regional planning around transportation. LOCUS proposes a three-pronged strategy including value capture, transit-oriented development planning grants, and a transit-oriented development credit enhancement program to bridge financing gaps.
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In 2008, the Rockefeller Foundation launched the Initiative to Promote Equitable and Sustainable Transportation. With the last great mission of the U.S. transportation – the building of the Interstate Highway system – in the rearview mirror, the initiative was premised on the notion that the country needed a twenty-first century vision to meet twenty-first century needs. This meant a system that would provide more accessible and affordable options, reducing the cost of transportation for millions; ensure better and more dependable access for all, thus increasing access to opportunity; and prioritize energy efficiency and pollution education, thus providing for a healthier planet and healthier communities.
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- The new Safe Streets and Roads for All program which funds the development and implementation of safety action plans.
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Proud Ground provides permanently affordable homeownership through legal agreements that ensure homes can be resold at affordable prices, maintaining affordability over time. When a homeowner decides to sell, a resale formula allows them to receive a fair return on investment while keeping the home priced for low and moderate income buyers. Proud Ground homes operate like traditional homeownership with mortgages, equity accumulation, and tax benefits, but have much lower purchase prices in exchange for restricted resale values. The organization works with brokers and employers to promote the program.
Kevin Anderson BWH DC 2011
City First Homes provides permanently affordable homes to buyers earning up to 120% AMI through a shared appreciation model. It offers down payment assistance loans of $75,000 at a fixed 3.79% interest rate over 40 years, with interest-only payments for the first 7 years. When homeowners sell, they keep 100% of paid principal and improvements as well as 25% of home appreciation, with little to no selling fees. Since 2010, City First Homes has sold 33 units and proven successful in urban areas, though introducing shared appreciation and scaling up remain ongoing challenges. It offers 6 key benefits including lower monthly costs, reduced upfront costs, qualifying for larger homes, and the ability to build wealth through equity and tax benefits
Jennifer Shockley BWH DC 2011
The Community Reinvestment Project (CORE) aims to convert government-owned properties into affordable housing for essential workers like first responders and teachers. CORE seeks to provide affordable housing, generate revenue for local governments, and streamline the process of selling properties to revitalize communities. The project framework was created by PAR, which brings in strategic partners while local associations handle public outreach. Current projects include a pilot with Philadelphia and partnerships in Reading to list additional properties through realtor support. Challenges include slow progress, but successes include strengthened partnerships.
John Payne BWH DC 2011
The document discusses workforce housing plans and policies for Tysons Corner, Fairfax County, Virginia. It outlines requirements for developers to include affordable housing units to receive bonus densities, with targets of 20% affordable units within a quarter mile of metro stations and 16% inclusive of bonuses beyond a quarter mile. Income tiers for affordable units range from below 50% to 120% of area median income. The plans provide flexibility and encourage creative strategies to meet housing needs. Non-residential developments must contribute funds towards affordable housing. Panelists at a workforce housing summit discussed benefits to employers and strategies for viable development pro formas.
Peter Wluka and Megan Amundson BWH Boston 2011
Peter Wluka and Megan Amundson BWH Boston 2011National Housing Conference & the Center for Housing Policy
This document summarizes the campaign to defeat ballot question 2 in Massachusetts, which would have changed the state's affordable housing law (Chapter 40B). It describes the campaign's structure, messaging strategies, grassroots outreach, and communications efforts. Through a diverse coalition, public polling, and tailored messaging, the "No on 2" campaign was able to defeat the ballot measure 58% to 42% and maintain the existing affordable housing law.Teresa Tilton BWH Boston 2011
The New Jersey Association of REALTORS® Housing Opportunity Foundation (NJARHOF) is a 501(c)(3) organization that fosters opportunities for affordable housing in New Jersey. It provides funding to other non-profits that offer programs like homebuyer education and counseling. NJARHOF's "Helping Hands Towards Homeownership" initiative aims to educate potential homebuyers and realtors about available housing resources, such as financial literacy workshops, homebuyer counseling, and tax benefit classes. The organization also publishes a Housing Opportunity Resource Guide listing state and federal housing assistance programs.
Peter Elkowitz BWH Boston 2011
The document discusses the Long Island Housing Partnership's (LIHP) employer-assisted housing program. It summarizes how the program works to provide down payment assistance grants to employees through employer matching contributions combined with other state and federal funds administered by LIHP. Employers benefit by retaining and recruiting employees through improved affordability and employee satisfaction. LIHP guides both employers and employees through the process, from establishing an employer program to homebuying counseling and coordination of funds. The program has helped over 330 employees of over 130 employers purchase homes through more than $12 million in grants.
Brenda Torpy BWH Boston 2011
The document summarizes a regional forum on workforce housing and discusses the community land trust (CLT) model. It provides statistics on CLTs in the US, including $220 million in assets and supporting 1,500 apartments. The Champlain Housing Trust in Vermont is highlighted as an example, having 500 homes in a shared equity program. It discusses the CLT maintaining affordable housing and preventing foreclosures more successfully than traditional models.
Jim Flaherty BWH Boston 2011
The Philadelphia Home • Buy • Now program provides matching grants of up to $4,000 for home purchases in Philadelphia. The program aims to help employers recruit, retain, and reward employees by providing housing benefits to help them become homeowners. No income limits or geographic restrictions apply. The funds can be used for closing costs, down payments, prepaid interest, or mortgage insurance. Between 2004-2009, the program assisted 211 home purchases with $74,000 in median household income and $134,000 in median home cost.
Jennifer Raitt BWH Boston 2011
The document discusses sustainable housing goals and strategies for the Metro Boston region. It aims to promote more equitable and affordable housing options, increase production of smaller and transit-accessible units, and prevent displacement. Key strategies include developing regional and local housing plans, increasing affordable housing production, diversifying the housing supply and connecting residents to opportunities. The plan also involves assessing current and future housing needs, targets for production amounts and types, and identifying actions to ensure future needs are met.
Jeffrey Lubell BWH Boston 2011
This document discusses a study examining the growing costs of housing and transportation for working families in Boston and the surrounding region. The study looks at the heavy financial burden of housing and transportation costs on area residents, how it impacts their neighborhoods, and its effects on the environment. The document was written by Jeffrey Lubell, Executive Director of the Center for Housing Policy, and provides his contact information.
Jan Brodie BWH Boston 2011
This document summarizes the Morgan Woods affordable housing development project on Martha's Vineyard. Some key points:
1) Morgan Woods created 60 affordable housing units, nearly doubling the island's inventory, to house year-round residents who provide essential services but can no longer afford to live there.
2) The development overcame many logistical challenges to transport modular units by barge and complete construction efficiently. Thoughtful design has created a family-friendly community environment.
3) The success of Morgan Woods has helped the developer, The Community Builders, build a strong reputation on the Cape and Islands and take on additional affordable housing projects.
Robert Clifford BWH Boston 2011
The document discusses housing affordability in the context of the recent housing crisis. It makes three key points:
1) While falling home prices have led to record housing affordability levels, most households entered the downturn already facing high housing costs and few can take advantage of lower prices.
2) Measures of housing affordability and burden show that affordability has only improved to early 2000 levels and many households, especially low- and moderate-income, still face high housing costs.
3) The housing affordability problem is particularly acute in Massachusetts compared to other markets. Most households cannot benefit from lower home prices due to existing high housing cost burdens.
SSC2011_Hilari Varnadore PPT
The STAR Community Index is a framework developed by ICLEI-USA to help local governments measure and advance sustainability across the three pillars of environmental, economic and social equity. It provides a standardized rating system for communities to track their performance, identify areas for improvement, and foster competition and innovation around sustainability goals. The STAR Community Index was built with input from over 160 volunteers and has engaged 10 pilot communities to test its tools and online platform.
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SSC2011_Christoper Coes PPT
- 1. Financing Mixed Use Development Place-Making Infrastructure The Federal Perspective: Creating incentives and financing tools in the next Transportation Reauthorization NHC Solutions for Sustainable CommunitiesSeptember 27, 2011 Washington, DC
- 2. Who is LOCUS: Responsible Real Estate Developers and Investors Prospects for Transportation Re-Authorization and TOD-Oriented Development Question and Answers
- 3. LOCUS: About Us… LOCUS, Latin for “place,” is a national coalition of real estate developers and investors who believe transportation drives development and who advocate for sustainable, walkable development in our towns and cities. LOCUS, in partnership with Smart Growth America, works to educate policymakers about the market demand for and the social and environmental benefits of walkable, sustainable development across the country.
- 4. LOCUS: Steering Committee Members Christopher B. Leinberger President, LOCUS andPartner, Arcadia Land Company Ed Lipkin President, EBL&S Development Albert Ratner Chairman of the Board of Directors, Forest City Enterprises Jonathan Rose President, Jonathan Rose Companies Marilyn Taylor Dean, University of Pennsylvania School of Design Brenna S. WalravenManaging Director, USAA Real Estate Company Michael Lander President, Lander Group Richard BaronPresident,McCormack Baron Salazar Catherine Crenshaw President and CEO,Sloss Real Estate Tom Darden Managing Director,Cherokee Investment Partners Robert Davis Founder, Seaside andPartner, Arcadia Land Company Bernie Glieberman President,Crosswinds Communities Pres Kabacoff President,HRI Properties
- 5. Who is LOCUS: Responsible Real Estate Developers and Investors Prospects for Transportation Re-Authorization and TOD-Oriented Development Questions and Answers
- 6. LOCUS: Legislative Priorities Increase overall transit funding through value capture Incentivize transit-oriented development (TOD) through credit enhancement and tax incentives Require strategic planning among metropolitan planning organizations (MPOs) and state Departments of Transportation (DOTs)
- 7. LOCUS: 3-Prong Strategy for Transit Oriented Development Flickr user: starquake
- 8. Value Capture and Transit Photo Credit: Hawaii Government Archives
- 10. “1,000 Flowers Bloom” Approach
- 11. Bring the Private Sector to the TablePhoto by: Andrew Tucker
- 12. Transit Oriented Development Photo Credit: WaliMemon
- 13. Transit Oriented Development: CHALLENGES? According to a Reconnecting America study, demand for living near transit in walkable, mixed-use communities is projected to double over the next 20 years to 15.2 million households by 2030. A recent Government Accountability Office reports notes: “Some project sponsors and experts believe federal loans, loan guarantees, or credit enhancements could help bridge a financing gap.
- 15. Eligible recipients include transit agencies, units of local government, metropolitan planning organizations, tribal governments, and states, in partnership with other public or private agencies or organizations; and
- 19. Senate Environment & Public Works Committee (EPW)
- 20. Senate Banking Committee (transit title only)
- 22. LOCUS: Possible Scenarios… Flickr user: starquake
- 26. Innovative Financing, includingsupporting value capture initiatives
- 27. Increased $ for TIFIA program and expands eligibility – potentially TOD credit enhancement Chairman John Mica (R-FL), House Transportation and Infrastructure Committee Flickr user: starquake
- 29. Asset Management
- 30. Freight
- 31. Metro Mobility
- 32. Increased funding for TIFIA – credit enhancementChairman Barbara Bozer (D-CA), Senate Environment and Public Works Committee
- 34. Includes both Planning Grants and Credit Enhancement ProgramChairman Tim Johnson (D-SD), Senate Banking Committee
- 36. TOD is major criteria
- 39. Multi-year bill
- 41. High Speed Rail key issuePresident Barack Obama
- 42. LOCUS: We Need Your Voice Key States: Florida Tennessee New Jersey Pennsylvania Texas Illinois California Montana Delaware Oklahoma Louisiana
- 43. LOCUS:CONGRESS NEEDS TO HEAR YOUR VOICE Join us at smartgrowthamerica.org/locus Christopher Coes Managing Director, LOCUS: Responsible Developers and Investors ccoes@smartgrowthamerica.org