High Risk of Affordability Loss (tasks for Thursday) (P3X2 cont.)

Focus your investigation on projects that fall into the "high risk of affordability loss (for-profit owned, well-located and in good condition)" category. However, I am interested that we have knowledge of a broad range of properties.

Accumulate:
Aerial imagery at multiple scales (include adjacent retail, parks, transportation, etc)
Street level imagery
Property statistics (year, units, building, acres, rents, pulsations, demographics, etc)
Property constraints (current land use, zoning, as-of-right development density, etc)

Continuous tasks for this project (Continuous Exercise - suitability model critique, LABEL "SMC")
1. Review the criteria for suitability presented by the Shimberg study. Add to the list from your own observations and knowledge.

-summarized from "EVALUATING SUITABLE LOCATIONS FOR THE DEVELOPMENT AND PRESERVATIONS OF AFFORDABLE HOUSING IN FLORIDA: THE AHS MODEL", page 5;

• Physical Infrastructure and Environment 
• Neighborhood Characteristics
• Neighborhood Accessibility
• Rental Housing Cost
• Driving Cost
• Transit Accessibility

(...this article was part of the originally assigned reading, in this post)

2. Review the recommendations for preservation of affordable housing from the Shimberg presentation (v3). Add to the list.

-from Shimberg Center Document, "Present_110714_v3", slide 22;

Preservation Recommendations

1. Preserve affordable multifamily developments in proximity to SunRail stations.
2. Preserve assisted housing for families with children in areas that offer quality schools and low poverty levels as well as high transit access to work.
3. Prepare for the LIHTC “Year 30” expiration problem well in advance of the beginning of property loss in the early 2020s, particularly for properties at high risk of affordability loss (for-profit owned, well-located and in good condition).
4. Develop a strong local infrastructure for preservation. See the examples of interagency coordination in Chicago and preservation ordinance/preservation near transit in Denver as models.

-from slide 37;

Potential Strategies

• Prevent displacement via regulation 
• Preserve transit-oriented development (TOD)-appropriate affordable housing 
• Increase affordable homeownership opportunities 
• Promote affordable housing development 
• Preserve affordable housing development opportunities 
• Reduce the cost of housing production 
• Leverage market-rate development 
• Promote transit amongst low-income populations 
• Site public facility investments in station area 

The most important strategies for inner city sites: 

• Preserve existing project-based Section 8 and other subsidized housing 
• Prevent displacement via regulation 
• Reduce the cost of developing mixed-income housing 

-from slide 38;

Tools to Implement Strategies

• Options for Financing Affordable Housing Near Transit-Oriented Development 
• Public Land Disposition Plan 
• Land Banking Funds 
• Parking Regulations
• Linkage Fees 
• Joint Public/Private Development 
• Infill Development or Redevelopment in Transit Zones 
• Tax Increment Financing
• Fast-track permitting
• Fee waivers, reductions, and deferrals
• Regulatory accommodation for small sites
• Tax forgiveness for back taxes on affordable housing sites

Our additions to these lists will be from a different perspective and this is valuable.