2013/10/16 Council Agenda Packet

Strategy 13: Direct Housing Resources to Support Transit-Dependent Populations There are currently several sources for affordable housing subsidy at the local, regional, and state levels. Targeting a portion of those funds to projects in transit communities can be a way to produce more affordable housing for transit-dependent populations. In addition, using tools such as xiOpportunity Mapping to inform housing subsidy allocations can help create greater access to high- opportunity neighborhoods for low-income households. The following actions will be most effective in conjunction with strategies to grow the overall amount of available resources for affordable housing, such as through housing levies or similar funding, value capture financing, and a TOD property acquisition fund. Puget Sound Regional Council 13.1 Amend plans and policies to call for investment of housing resources that support and encourage the development and preservation of affordable housing in transit communities. 13.2 Provide technical support to housing funders and developers in defining transit community nodes and EA boundaries for the purposes of making funding and programmatic decisions. Local Governments 13.3 Adopt policies that support and encourage funding for the development and preservation of affordable Q housing in transit communities. y13.4 Expand the capacity of locally-generated housing funds, such as through support for development and = passage of a local, sub-regional,or regional housing funding source. E Affordable Housing Funders and Developers E 13.5 Adopt funding policies and criteria that support and encourage the development and preservation of vaffordable housing in transit communities,where mobility and access to jobs and services is higher. a) 13.6 Consider the GTC transit community typology and Opportunity Mapping data when identifying locations within the region for new production and preservation investments. Affordable Housing Advocacy Organizations 13.7 Build on the Growing Transit Communities Partnership to convene a regional coalition to call for new and expanded sources of housing subsidy beyond what is currently available from government and non- governmental sources. Priority Transit Communities for this Strategy • Transit communities with current high capacity transit service or expected within 10 years,and other regionally significant transit communities • Transit communities with limited stock of affordable units 42 The Growing Transit Communities Strategy I Public Review Draft I May 2013