Presentation from Partners in Innovation Policy Forum in Denver, CO on September 27, 2010.

1. Financing Affordable
Housing in TOD Areas
Adrienne E. Quinn
V.P. Public Policy & Government Relations
Enterprise Community Partners
aquinn@enterprisecommunity.org
September 27, 2010

2. Funding Affordable Housing in
TOD Areas
 Planning
 zoning incentives in TOD areas
 funding plan, e.g., priorities in funding docs such as
Consolidated Plan
 Partnering
 between local jurisdiction, housing authority, nonprofits
 opportunities for market-rate developers to contribute to
development of affordable housing
 Targeting & Layering of Fund Sources
 funding sources available for different income levels
 flexibility for different sources to be used together
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3. Potential Funding Sources
 Local Funding Sources
 General Fund
 Inclusionary Zoning Funds
 Tax Increment Financing Funds
 Tax exemptions or tax abatements
 Human Services/Econ Development funding
 State Sources
 State Housing Trust Funds
 Document Recording Fees
 Services Funding
 Federal Sources Administered By State/Locality
 Community Development Block Grant (CDBG)
 HOME
 McKinney Vento – capital + operating
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4. Potential Funding Sources-
cont.
 State Housing Finance Agency + Investor
 Low Income Housing Tax Credits (LIHTC) 9% & 4%
 Private Activity Bonds
 Federal Sources Administered By Federal Govt.
 HOPE VI/Choice Neighborhoods (HUD)
 Sustainable Communities (HUD)
 Section 202 – Senior Housing (HUD)
 Section 811 – Disabled Housing (HUD)
 Housing Authority
 Section 8 Vouchers
 VASH Vouchers
 Philanthropy
 Bank Loans
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5. Case Study: Seattle Rainier Valley
Link Light Rail
 New Light Rail Line from Airport to Downtown Seattle
 Two HOPE VI Redevelopments at two different stations on Rainier
Valley Link Light Rail Line
 Othello Station (New Holly)
 Columbia City/Edmonds (Rainier Vista)
 1000+ units of affordable housing (homeless to 90% AMI) at two
stations and along corridor
 Focus on Rainier Vista: partnerships between Seattle Housing
Authority, Seattle Office of Housing and nonprofit organizations
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6. Seattle Link Light Rail-
Airport to Downtown
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7. Rainier Vista
Seattle Housing Authority HOPE VI
Redevelopment
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8. Outcomes:
Columbia City/Edmonds Station
 Rainier Vista
 Seattle Housing Authority HOPE VI redevelopment of 484
units into 875 units of TOD area, 65 acres
 City purchased property from Housing Authority and
transferred at no cost to Habitat for Humanity/Homestead
Community Land Trust
 City provided funding for several rental housing projects
 City provided funding for affordable rental housing on corridor
between stations
 City created incentive zoning/tax exemption overlays in TOD
areas and prioritized funding in Rainier Valley
 Used different tools to create full spectrum of housing from
zero income (formerly homeless) to market rate,
both homeownership and rental
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9. Rainier Vista at North End of
Columbia City/Edmonds Station
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10. Public Housing, Homeless Housing, and
Homeownership Housing south to north
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11. Genesee Housing
Nonprofit Developed
City Funded/LIHTC/HUD 811
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GENESSEE
SEATTLE

12. Tamarack Place- Housing Authority
Federal Stimulus Funds
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13. Rainier Vista Playground,
Public Housing foreground,
homeownership under construction
background
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14. Rail Corridor redevelopment
Katherine’s Place (Homeless
Families) – City Funded + LIHTC
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KATHARINES PLACE
SEATTLE

15. Katherine’s Place -
Courtyard play area
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KATHARINES PLACE
SEATTLE

16. Othello Place (Rail corridor)
Tax Exemption Used by For-Profit
Developer
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