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08-21-17-WS
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08-21-17-WS
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Continue to next page <br />Identified Need Available Tools Circumstances and Sequence of Use <br />Rental units for <br />large families at all <br />affordability levels, <br />continued <br />Referrals We will review and update our reference procedures and training <br />for applicable staff by 2021, including a plan to maintain our <br />ability to refer our residents to any applicable housing programs <br />outside the scope of our local services. <br />Senior housing <br />affordable at 30-51% <br />AMI <br />TIF It is unlikely we would support the use of TIF for this use. <br />Tax Abatement We would consider tax abatement for a senior housing project <br />affordable at 30-50% AMI. <br />CDA We will coordinate with the Valley Heights Community <br />Development Agency to best align their resources with this <br />stated need. We will review our implementation plan on an <br />annual basis, beginning in 2020, with the Valley Heights CDA to <br />ensure we are utilizing their resources most effectively. <br />Local Funding Resources: <br />LCDA <br />We would strongly consider supporting/sponsoring an <br />application to Livable Communities Account programs for senior <br />housing proposals affordable at 30-50% AMI. <br />Local Funding Resources: <br />CDBG <br />We do not plan on using any allocated CDBG funds for senior <br />housing. <br />Super RFP We would strongly consider supporting/sponsoring an <br />application to Super RFP programs for senior housing affordable <br />at 30-50% AMI. <br />Housing Bonds We do not plan on issuing Housing Bonds to support senior <br />housing development. <br />Preservation Strategies: <br />4d <br />We would consider implementing the 4d tax program for senior <br />housing developments affordable at 31-50% AMI. <br />Site Assembly We would strongly consider supporting/sponsoring an <br />environmental clean-up grant application for senior housing <br />affordable at 30-50% AMI. <br />Expedited Pre-application <br />Process <br />We will create a pre-application process to identify ways <br />to minimize unnecessary delay for projects prior to formal <br />application process. We will document and initiate this new <br />process by 2020. <br />Referrals We will review and update our reference procedures and training <br />for applicable staff by 2021, including a plan to maintain our <br />ability to refer our residents to any applicable housing programs <br />outside the scope of our local services. <br />Preservation of <br />naturally-occurring <br />affordable housing <br />within all levels of <br />affordability, especially <br />near future transit <br />station(s) <br />Local Funding Resources: <br />CDBG <br />We will explore the use of a portion (no more than 15% of our <br />total allocation in any given year) of our CDBG funds to create a <br />low-interest revolving loan fund for the rehabilitation of existing <br />residential properties near future transit stations in exchange for <br />a minimum period of income restricted affordability. This study <br />will be documented and completed by 2026. <br />Preservation Strategies: <br />4d <br />We will approach identified owners of existing naturally occurring <br />affordable residential properties near the planned Lake Valley <br />Transit Station to discuss the possibility of 4d program tax <br />breaks by 2025. <br />Referrals We will review and update our reference procedures and training <br />for applicable staff by 2021, including a plan to maintain our <br />ability to refer our residents to any applicable housing programs <br />outside the scope of our local services.
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