TransitOriented Development TOD Housing Program

1
Transit-Oriented Development (TOD) Housing Program

• California Department of Housing and Community
  Development

2
Available Funds

• Funded by Proposition 1C, the Housing and
  Emergency Shelter Trust Fund Act of 2006
• First NOFA issued December 11, 2007
• Funding awards were made in June
• 285M originally available, 140M remaining
• 95M available for next NOFA
• NOFA expected out late this Fall (tentative)

3
Geographic Distribution Objectives

• Awarding not less than 45 to Southern California
• Awarding not less than 30 to Northern California
• Awarding at least one Project per NOFA Round in
  each of the four major COGS
• SCAG
• SANDAG
• SACOG
• ABAG

4
Primary Program Objectives

• Stimulate development of higher density uses
  including affordable rental and ownership housing
  opportunities within close proximity to transit
• Encourage increased public transit use and to
  minimize automobile trips
• Facilitate connectivity between housing and
  transit

5
Key Threshold Requirements of Housing
Developments

• Must be located in a qualified urbanized area
• Urbanized areas experience recurrent congestion.
• Be located within one-quarter mile of a
  qualifying transit station
• Minimum 15 of total housing units must be
  restricted to low or very-low income
• Be at least 50 units in size
• Meet minimum net density requirements ranging
  from 25-60 units/acre

6
Qualified Urbanized Areas
7
Eligible Applicants

• Developers for rental housing loans
• Redevelopment agencies for land acquisition loans
• Localities for homeownership grants
• Localities and transit agencies for
  infrastructure grants
• Joint Powers Authorities comprised of the above

8
Eligible Uses of Funds

• Loans for rental Housing Developments
• Loans to redevelopment agencies to acquire land
  for Housing Developments
• Grants to Localities to provide loans for first
  time homebuyers
• Grants for Infrastructure Projects to support
  Housing Developments, or improve connections
  between the Housing Development and Transit
  Station

9
Examples of Eligible Infrastructure Uses

• Sewer or water system upgrades, streets,
  construction of drainage basins, parking spaces
  or structures, utility access, connection or
  relocation, and noise mitigation
• Pedestrian walkways, plazas, or mini-parks,
  signal lights, streetscape improvements, security
  enhancements, bicycle lanes and intelligent
  transportation information systems

10
Infrastructure Projects must include either or
both of the following

• Capital improvements required by a locality,
  transit agency, or special district as a
  condition to the development of the Housing
  Development, or
• Capital improvements that clearly and
  substantially enhance public pedestrian or
  bicycle access from one or more specifically
  identified Housing Developments to the nearest
  Transit Station

11
Assistance Terms and Limits

• Maximum Program loan or grant combination for a
  single Housing Development shall be 17 million.
• Total maximum amount of Program assistance for
  applications based on a single Qualifying Transit
  Station shall be 50 million over the life of the
  program.

12
RDA Land Acquisition Loan Terms and Limits

• Redevelopment Agencies ONLY
• 6 interest rate until conversion to perm.
• Loan may be assumed by developer of proposed
  Housing project
• Loan amount shall not exceed the lesser of
• 80 of value of land to be acquired
• 50,000 per residential unit in the proposed
  Housing Development
• 3 million

13
Infrastructure Grant Terms and Limits

• 50,000 per Restricted Unit in proposed Housing
  Development
• 35,000 per residential unit in proposed Housing
  Development
• 10,000 per residential unit for improvements
  that enhance access to transit
• Committed, matching cash contribution equal to
  20 of grant request

14
Competitive Application Process

• Applications are scored based on maximum of 360
  points
• Major Scoring Categories
• Increased Transit Ridership 90
  points
• Infill-designated area coordinated
• public private investment
  40 points
• Affordability
  30 points
• Parking
  30 points
• Readiness
  30 points
• Developer Past Performance 30 points
• Project Size
  30 points
• Represents change from 2007 Guidelines

15
1st NOFA Round Application Results

• 59 applications received
• Requesting more than 543M in TOD funds
• Representing more than 4B in proposed TOD
  projects
• 145M in awards were made (due in part to a 50M
  augmentation authorized by AB 1252)
• Total project housing units 3,405
• Total rent restricted housing units 1,712

16
2008 Proposed Guideline Changes

• Maximum assistance for single applicant or its
  affiliate is 17M per founding round.
• Construction of the Housing Development must
  commence within 5 years of the award date.
• Construction of the Housing Development must be
  completed within eight years of the award date.

17
2008 Proposed Guideline Changes

• Applications must receive a minimum point score
  of 250 points to be eligible.
• Comparative travel time point category has been
  eliminated.
• Requirements for obtaining points in 108(b)(2)
  and 108(d)(3) have been combined. Section
  108(b)(2) remains as 10 points. Section
  108(d)(3) has been eliminated
• The Walkable Corridor features Section 108(e) has
  been increased to 25 points from 15 points.

18
2008 Proposed Guideline Changes

• Walkable Corridor features includes points for
  facilitating bike access, storage, and travel.
• Parking Section 108(f) has been increased from 20
  points to 30 points.
• New Section 108(l) awards points for projects
  located in jurisdictions that have adopted a
  general plan economic development element.