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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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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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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