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t <br /> O Use a full range of housing preservation tools to maintain the existing level of affordable housing <br /> within each transit community, and <br /> O Use a full range of housing production tools and incentives to provide sufficient affordable <br /> housing choices for all economic and demographic groups within transit corridors. Strive for <br /> affordability of new housing in transit communities as a whole that is proportional to region-wide <br /> need or greater to serve transit-dependent households, as follows: at least 15% affordable to <br /> households that earn between 50% and 80% of AMI, at least 15% affordable to households that <br /> earn between 30% and 50% of AMI, and at least 20% affordable to households that earn below <br /> 30% of AMI. <br /> These goals apply to the region's transit corridors collectively, and do not suggest a specific desired <br /> outcome for any individual transit community. Further, fully attaining these goals will require new <br /> tools, resources, and subsidies beyond those that exist today. <br /> Increase access to opportunity for existing and future residents of transit communities. <br /> Adopted regional policy recognizes the need to address the diverse housing, transportation and <br /> economic needs of current and future residents so that all people may prosper as the region grows. <br /> This requires special attention to communities that lack access to mobility choices, quality schools, <br /> and other social and physical neighborhood components that allow community members to thrive <br /> and succeed. <br /> In order to more equitably meet the needs of all residents of the region, the signatories to this <br /> Compact will strive to: <br /> • Improve access to opportunity in the transit corridors through targeted investments that meet the <br /> needs of residents and businesses in communities with low access to opportunity, targeted <br /> affordable housing investments in communities with high access to opportunity, and transit <br /> connections linking high opportunity and low opportunity areas. <br /> • Use a full range of community engagement strategies to increase the involvement of diverse and <br /> historically under-represented groups in transit community development, empower communities <br /> to influence decisions at all levels of government, and ensure opportunities for participation <br /> throughout the decision-making process. <br /> In order to maximize this historic opportunity, show regional leadership, and act as a national model of how diverse <br /> stakeholders can make transformative decisions that advance a region's goals for its people, its prosperity, and the <br /> planet, the signatories to this Compact pledge to work individually and collaboratively toward the goals described <br /> above, and toward the implementation of the Growing Transit Communities Strategy, as appropriate to each <br /> jurisdiction and organization. PSRC will periodically convene representatives of Compact signatories as an Advisory <br /> Committee to evaluate the region's progress over time toward achieving equitable transit communities. PSRC's <br /> regional monitoring program will track progress of implementing and achieving the goals described in this compact. <br /> Growing-. ;jjt2013. <br /> r <br /> more information on the Growing Transit ' iiaplease iram <br /> MangerBenBakkenta (bbakkenta@psrc.ogr 206971-3286) or visit the Growing Transit Communities <br /> ntact <br /> 0 Communities website at http://www.psrc.org/growth/growing-transit-communities/ <br /> 5 <br /> 12 <br />