denver 9/28 melinda pollack
DESCRIPTION
Presentation from Partners in Innovation Policy Forum in Denver, CO on September 28, 2010.TRANSCRIPT
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