Resolution 6396 - Laserfiche WebLink

Page 16 of 19 • Task D1.1: Develop RFP; Select consultant to produce"regional opportunity map"8(Spring—Summer 2011) • Task D1.2: Review and analyze state and local laws and codes for provisions that may impact/create barriers to affordable housing and fair housing choice and access. Support affordable and fair housing legislation. (Fall- Winter 2011-12) • Task D1.3: Review and analyze available data for evidence of discriminatory conduct and disparate treatment in rental housing and home lending that are barriers to fair housing choice; identify which classes are most affected (Fall-Winter 2011-12) • Task D1.4: Conduct focus groups and key stakeholder interviews across region about barriers to fair housing choice, including agencies serving low income communities, protected classes, and communities seeking to increase diversity. (Winter 2012) • Task D1.5: Create draft report and present to Steering Committees, Oversight Committee(Spring-Summer 2012) • Task D1.6: Conduct trainings,workshops, create regionally coordinated educational, affirmative marketing,fair lending/credit materials; ensure regional multi-partner educational projects are mission driven to affirmatively promote diversity and equal opportunity. (Summer-Fall 2012) • Task D1.7: Work with jurisdictions through TOD Corridor Compacts to take affirmative steps to guide development of inclusive and diverse communities along key corridors(Summer-Fall 2012) • Task D1.8:Assess mobility and dispersion of tenant-based Section 8 vouchers and potential policy changes public housing authorities can make. (Fall 2012-Winter 2013) Metrics and Results: Regional Al and Fair Housing Action Plan developed to coordinate fair housing planning in metropolitan area and to guide development along the transportation corridors that avoids patterns of segregation and advances fair housing opportunities; regionally coordinated trainings,workshops, educational materials, affirmative marketing and fair lending/credit materials; regional multi-partner educational projects affirmatively promote diversity,fair housing and equal opportunity; TOD compact commitments to take affirmative steps to guide the development of inclusive and diverse communities; affirmative steps include setting target performance goals for housing affordability; and removal of barriers to fair housing choice through legislative action and other advocacy. Task D2.Transit-Oriented Development Affordable Housing Funding and Finance.This task provides the groundwork for the development and capitalization of a regional fund for TOD affordable housing.The purpose of the regional fund is to acquire property for affordable housing prior to increases in property value resulting from transit investments. This strategy is intended to ensure that affordable housing is integrated into TOD through new development or preserving/rehabilitating existing affordable housing to create opportunities for current low-income residents who would be at risk of displacement without these investments. Recognizing the importance of equitable TOD and providing low- cost financing,the fund will allow affordable housing developers to bridge the time between current recession-driven acquisition opportunities and future available financing.The regional fund is intended to be opportunity-driven, allowing affordable housing developers to bring projects to the fund as properties become available.The initial focus will be to set up program systems and create necessary relationships for the effective implementation of a TOD acquisition fund. It is envisioned that municipalities will only be eligible to apply for funds from the Regional TOD Property Acquisition Fund if they have adopted the land use policies identified in the TOD Compacts. In Washington,the effectiveness of Tax Increment Financing (TIF) is very limited compared to the rest of the U,S.9 This task will provide staff resources to explore and create a more effective TIF alternative using other revenue sources to finance equitable development.Task D2 will be overseen by the Affordable Housing Steering Committee. 8 Based on"The Geography of Opportunity:Mapping to Promote Equitable Community Development and Fair Housing in King County,WA"by Kirwan Institute,April 2010: http:l/kirwaninstitute.orq/researchlprolectslkinq-ounty-wa-opportunity-mappingfrndex.php 9 Tax Increment Finandng(TIF)is a tool used by local governments in 49 states to revive blighted areas and promote economic development Tax Increment Financing has been seen as a useful tool to finance the public infrastructure necessary to attract private development to priority areas.Washington's original tax increment financing statute passed in 1982—was Growing Transit Communities Consortium Agreement Attachment B:Work Program Cooperative Agreement Instrument No.WARIP0042-10 DRAFT May 13,2011