1 / 22

Agenda

Affordable Housing Ad Hoc Working Group. Agenda. Welcome and Introductions Transportation Program Structure and Eligible Activities Jim Ritchey, Whitman Requardt and Associates Burt Tasaico , Director, NCDOT Office of Strategic Initiatives and Program Support

luce
Download Presentation

Agenda

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Affordable Housing Ad Hoc Working Group Agenda • Welcome and Introductions • Transportation Program Structure and Eligible Activities • Jim Ritchey, Whitman Requardt and Associates • Burt Tasaico, Director, NCDOT Office of Strategic Initiatives and Program Support • Housing Program Structure and Funding Programs • Alan Steinbeck, PSGPlans • Chris Austin, Director of Rental Investment, NCHFA • Lee Cochran, Senior Vice President, Laurel Street • NCDOT Right-of-Way Program • Virgil Pridemore, Director, NCDOT Right-of-Way Unit • Livable Centers Initiative – Atlanta Regional Commission • Alan Steinbeck, PSGPlans • Next Meeting Topics • September 20, 2018 – 1 PM • Charlotte transit development program • Triangle station area planning program • Major transit system station development initiatives • Joint development regulations • September 24, 2018 – Health care providers - TBD • October 19, 2018 – 1 PM • Adjourn

  2. AGENDA ITEM II | Transportation Program Structure and Eligible Activities AFFORDABLE HOUSING AD HOC WORKING GROUP

  3. Affordable Housing Ad Hoc Working Group Federal Transit Program Structure Formula Programs Major Investment Programs Competitive Programs Regulations

  4. Affordable Housing Ad Hoc Working Group FTA Formula • 5304 / 5305 – Planning • Statewide and urbanized area planning • FY18 - $2.7 million • 5307 / 5340 – Urbanized Area Formula • Operations and capital • FY18 - Large Urban $60.2 million; Small Urban $12.8 million • 5310 – Enhanced Mobility of Seniors and Individuals with Disabilities • Operations and capital • FY18 - Large Urban $3.6 million; Small Urban $1.5 million, Rural $2.8 million • 5311 – Rural Area Formula • Administration, operations and capital • FY18 - $30.3 million • 5339 – Buses and Bus Facilities Formula • Bus replacement and facility maintenance • FY18 – Large Urban $7.9 million; Small Urban $1.5 million; Rural $3.5 million

  5. Affordable Housing Ad Hoc Working Group FTA Major Investment Programs • 5309 – New Starts • FY 18 - $2.6 billion nationally • Charlotte Blue Line Extension - $74 million • New Starts projects are funded through multi-year Full Funding Grant Agreements • 5337 – State of Good Repair • FY 18 - $3 billion • Generally for rail, fixed guideway bus and ferry systems in operation more than 7 years • Charlotte – $2.4 million rail; $.5 million bus

  6. Affordable Housing Ad Hoc Working Group FTA Competitive Programs • Safety, State of Good Repair • Economic Competitiveness • Environmental Protection • Quality of Life • Innovation • Innovative Technologies • Innovative Project Delivery • Innovative Financing • Partnership • Non-federal Investment • Project Readiness • Transit Oriented Development Planning • FY 18 - $10 million for competitive pilot • 5339 Buses and Bus Facilities • FY 18 - $488 million nationally • USDOT • TIGER → FAST LANE → BUILD • FY 18 - $1.5 billion nationally • Application deadline - July 19, 2018 • Significant local or regional impact projects. • Can support roads, bridges, transit, rail, ports or intermodal transportation.   • Merit Criteria

  7. Affordable Housing Ad Hoc Working Group FTA Regulations • Award Management • Grant Programs • Urbanized Area Formula • Capital Investment • Bus and Bus Facilities • State of Good Repair • Rural • Seniors and Individuals with Disabilities • Third Party Contracting • Civil Rights – Title VI, EEO, ADA, Environmental Justice • Guidance on Joint Development

  8. Affordable Housing Ad Hoc Working Group Key Definitions • Capital Investment Circular • Public Transportation Improvements - When integral to a capital investment project, Section 5309 funds may be used for projects that enhance economic development or incorporate private investment, including pedestrian and bicycle access to a public transportation facility, renovation of historic transportation facilities, intercity bus and intercity rail stations and terminals, and establishment of new or enhanced coordination between public transportation and other transportation as described in 49 U.S.C. 5302(a)(1)(G).

  9. AGENDA ITEM III | Housing Program Structure and Funding Programs AFFORDABLE HOUSING AD HOC WORKING GROUP

  10. Affordable housingFinancing strategies • 9% Tax Credits • 4% Tax Credits • Workforce Housing (No Tax-Credits)

  11. GENERAL NOTES • All three strategies can be used for new construction or preservation • Equity and 1st Mortgage debt determined by economics with Gap Financing left to make up the difference • Gap financing can take many forms • Federal funding (CDGB, HOME, DOT, etc.) • State funding (RPP, Housing Trust Fund, etc.) • Local funding (loans, grants, waiver of fees) • Donated infrastructure (federal, state, local) • Public and philanthropic land

  12. financing Strategy: 9% Tax credits • Mostly New Construction • Location is primarily determined by State guidelines • Generally serves 30%-60% AMI • High leverage of public dollars • Difficult to add market rate units • Limited number of units per year GAP Tax Credit Investor First Mortgage

  13. Financing strategy: 4% Tax credits • New construction and Preservation • Location generally determined by local priorities • Most flexibility in incomes served • Less leverage of public dollars • Can work well with market rate units • No limit on number of units per year Tax Credit Investor GAP First Mortgage

  14. Financing strategy: Workforce housing • New Construction and Preservation (NOAH) • Only works in locations with strong market rate rents • Generally serves between 60%-100% AMI • Very high leverage of public dollars • Includes market rate units • No limit on number of units per year GAP Equity Investor First Mortgage

  15. AGENDA ITEM V | Livable Centers Initiative – Atlanta Regional Commission AFFORDABLE HOUSING AD HOC WORKING GROUP

  16. Affordable Housing Ad Hoc Working Group Livable Centers Initiative • Atlanta Regional Commission initiative • Long-standing regional MPO • Origins • Air quality, sprawl, ARC policy objectives • Purpose • Incentivize local jurisdictions to re-envision their communities as vibrant, walkable places that offer increased mobility options, encourage healthy lifestyles and provide improved access to jobs and services.

  17. Affordable Housing Ad Hoc Working Group Livable Centers Initiative • Funding provided in Regional Transportation Plan (RTP) and programmed in Transportation Improvement Program (TIP) • Funding Source • Surface Transportation Program sub-allocation to MPOs with population >200,000 (STP-Urban) • Congestion Mitigation Air Quality funds (CMAQ) • 20% local match required for planning and implementation

  18. Affordable Housing Ad Hoc Working Group Livable Centers Initiative • Funds transportation and land use studies • Feasibility, design, master planning, policy development • Housing emphasis • Initial studies are district plans ($120K) • Follow on studies are funded for specific topics ($25K to $80K) • Transportation facility feasibility, design and design standards • Land use and land development policy • Housing, redevelopment and master plans

  19. Affordable Housing Ad Hoc Working Group LCI communities cover less than four percent of metro Atlanta’s land area but contain 7 percent of the region’s residential development, 29 percent of its commercial development and 69 percent of its office development. LCI Areas – Map covers 50 mile area

  20. Affordable Housing Ad Hoc Working Group $20M per year is available for implementation of transportation projects. Must be in good standing to receive funds. Land use measures must be adopted (over 50% of communities have adopted senior, workforce or inclusionary housing policies after completing LCI plans). Projects must comply with complete streets principals. Juniper Street, Midtown Atlanta

  21. Affordable Housing Ad Hoc Working Group Livable Centers Initiative • Affordable housing implications • Market and policy analysis • Pays for work that otherwise might not get done • Land planning • Institutionalizes density and mixed use development • Leads to policy reform and new program development • Infrastructure • Targets funds to centers and TOD areas

  22. Contact Us: Debbie Collins, Director Public Transportation Division dgcollins1@ncdot.gov (919) 707.4684 Jim Ritchey WRA jritchey@wrallp.com (404) 433.1379 https://www.ncdot.gov/nctransit/strategicplan

More Related