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JointDevelopmentAuthority <br />TCAAPRedevelopmentProject <br />AGENDAITEM8B <br />MEMORANDUM <br />DATE:April7,2014 <br />TO:JointDevelopmentAuthorityBoardofCommissioners <br />FROM:HeatherWorthington,JDAAdministrativeDirector <br />JillHutmacher,JDADevelopmentDirector <br />SUBJECT:LCAGrantOpportunities <br />BudgetedAmount:ActualAmount:FundingSource: <br />n/an/an/a <br />RequestedAction <br />None. <br />LivableCommunitiesAct <br />The1995LivableCommunitiesAct(LCA)providesfundingforlocalcommunitiestoinvestineconomic <br />revitalization,affordablehousinginitiatives,anddevelopmentorredevelopmentthatconnectsdifferent <br />landusesandtransportation.ThefundingisadministeredbytheMetropolitanCouncilandisavailable <br />tocitiesthathavenegotiatedlongtermaffordableandlifecyclehousinggoalsthroughaHousingAction <br />Plan(HAP). <br />UndertheLCA,theMetropolitanCouncilmakesgrantandloanawardsfromthreeaccounts: <br />TaxBaseRevitalizationAccount(TBRA)‘Cleansupbrownfieldsforredevelopment,jobcreation <br />andaffordablehousing. <br />LivableCommunitiesDemonstrationAccount(LCDA)‘Supportsdevelopmentand <br />redevelopmentthatlinkshousing,jobsandserviceswhiledemonstratingefficientandcost <br />effectiveuseoflandandinfrastructure. <br />LocalHousingIncentivesAccount(LHIA)‘Producesandpreservesaffordablehousingchoices <br />forhouseholdswithlowtomoderateincomes. <br />