Professional Documents
Culture Documents
Table of Contents
General CP Resolution, Policies, Plans, and Existing Tools.... 2 Countywide Data Summary.... 3 Columbia Pike Data Summary 4 Department of Human Services Programs... 5 Rental Data 2010 CAFs, MARKS and Market Rate Units by Rent Levels.... 6-7 2010 CAFs, MARKs and Market Rate Units by Rent Levels and Subareas... 8-9 2010 CAFs, MARKs, Market Rate Units by Rent Levels and Unit Mix 10-11 Rents for Select CP Complexes.. 12 Sales Data Homeownership Summary.................................... 13 Condo List....... 14 Condo Unit Mix 15 Condo Sales Weighted from July 08 June 10 16 Background on home purchase... 17 Single Family Sales Weighted from July 08 June 10 ............................ 18 Other 2010 Income and Rent Limits. 19-20 Housing Tools Compilation. 21-24 Definitions.. 25-26
Existing Tools: Financing - For more than 20 years, the County has made significant annual allocations of tax dollars to support its Affordable Housing Investment Fund (AHIF). The FY 2010 budget provides new AHIF funding of $5.2 million. Since January of 2000, the County has provided over $99 million in long-term AHIF financing and another $67 million in interim financing to support affordable housing development. Rent Assistance - Arlingtons Housing Grants program is the only locally funded rent assistance program in the region. It will provide $4.9 million in FY 2010 in rental subsidies for low-income elderly, disabled, and working families with children. Housing Choice Voucher rental assistance from HUD is also utilized. Planning - Through the negotiated site plan development process, the County has added committed affordable units (CAFS) by using various zoning and planning tools including the affordable housing requirement in the Zoning Ordinance, bonus density, transfer of development rights (TDR), and the Special Affordable Housing Protection District (SAHPD), among others. Tax Policy - Partial exemption on Real Estate Assessments is available for property owners who implement substantial rehabilitation on multi-family rental properties.
Housing Units County wide CP Study Area 90,000 16,500 100% 18%
However, Columbia Pike differs from the rest of the County. Tenure (People) Renter Owner County wide CP Study Area 57% 68% 43% 32%
Type (Units) CP Study area single family detached 1 unit attached, 2 to 4 units in structure 5 or more units in structure 22% 17% 61% County wide 31% 16% 53%
According to local data: There are 42,000 rental apartments in Arlington County. Of those, o 6,000 (14%) are CAFs o 7,000 (17%) are 60% MARKs o 11,000 (26%) are 80% MARKs o 18,000 (43%) are market rate (above 80% AMI) There are 9,500 rental apartments in Columbia Pike Study Area. Of those, o 1,200 (13%) are CAFs o 3,200 (33%) are 60% MARKs o 3,400 (36%) are 80% MARKs o 1,400 (15%) are market rate (above 80% AMI)
Market Rate (above 80%) 80% MARKs (60%-80%) 60% MARKs (At/below 60%) CAFs Uncategorized2
Market Rate (above 80%) 80% MARKs (60%-80%) 60% MARKs (At/below 60%) CAFs Uncategorized2
Table 2: Multi-Family Rental & Condo Multi-Family Rental and With PRAT forecast and Condo units Housing Goal # % # % ~5,100 38% ~11,500 64% 1,400 (rental) + 3,700 (condo) ~3,400 25% ~1,7001 9% ~3,200 ~1,200 ~400 ~13,300 units 24% 9% 3% ~3,2001 ~1,200 ~400 ~18,000 units 18% 7% 2%
Other Forecasts: 2040 build out forecasts (#s are approximate) which include single-family detached, singlefamily attached, townhouses and other units in the Columbia Pike Planning Area boundary: Office (~3.2 M), Retail (~1.4 M), Hotel (n/a) and Residential Units (~21,100)
1
In achieving the Housing Goals to preserve affordability, these MARKs may become CAFs or other tools may be used. 2 Penrose Square, GW Carver Homes Cooperative, Carman Apartments, 2814 S 13th St
Housing Grants: Arlington County offers a local tax supported program which provides a housing subsidy to eligible needy persons. There are 451 active Housing Grants cases in zip code 22204.
Housing Choice Vouchers (HCV): Federally funded housing subsidy program. Formerly called Section 8. There are 508 HCV holders in zip code 22204.
Assisted Living: DHS and the Volunteers of America have a public-private partnership to construct and operate the Mary Marshall Assisted Living Residence located at 2000 S. Fifth Street in the Penrose neighborhood. Construction is to be completed by mid-year 2011 and it will serve 52 persons.
2010 CAFs, MARKs and Market Rate Rental Units by Rent Levels
Complex Name 2200 2814 S 13TH ST 4300 COLUMBIA PIKE 55 Hundred Archstone Columbia Crossing Arlington View Terrace Barcroft Apartments Barton Place Buchanan Gardens Carman Apartments Columbia Gardens Apts Columbia Grove Columbia Park Columbia Pike Apartments Dominion Plaza Dominion Towers Dorchester Apts Dorchester Towers Fields (Columbia Commons) Fillmore Gardens Foxcroft Terrace G. W. Carver Homes Greenbrier Apts Halstead Harvey Hall Holiday Hills Infinity Apartment Homes 50% CAFs 0 0 0 0 0 0 0 0 24 0 0 42 0 0 0 0 0 0 30 0 0 0 0 0 0 0 0 60% CAFs 0 0 0 0 0 77 0 0 87 0 0 88 0 0 0 0 0 0 159 0 0 0 0 0 115 0 0 Mkt. Rate CAFs 0 0 0 0 0 0 0 0 0 0 0 80 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Total CAFs 0 0 0 0 0 77 0 0 111 0 0 210 0 0 0 0 0 0 189 0 0 0 0 0 115 0 0 60% MARKS 0 0 15 0 0 0 1318 12 0 0 62 0 0 0 254 69 43 0 0 559 29 0 108 0 0 18 0 80% MARKS 218 0 0 0 235 0 0 21 0 0 0 80 178 86 64 261 345 260 10 0 0 0 0 0 0 0 227 Market Rate (above 80%) 0 0 0 235 12 0 0 0 0 0 0 0 0 28 0 0 0 0 0 0 0 0 0 269 0 0 0 Uncategorized 0 6 0 0 0 0 0 0 0 16 0 0 0 0 0 0 0 0 0 0 0 44 0 0 0 0 0 Total Units 218 6 15 235 247 77 1318 33 111 16 62 210 178 114 318 330 388 260 199 559 29 44 108 269 115 18 227
Complex Name Key Apartments Key Gardens Magnolia Commons Monterey Apartments Oakland Apts Penrose Square Quebec Apts Shawnee Apts Siena Park Spectrum Apts Taylor Place (Whitmore) Taylor Square Tyroll Hills Apartments Wellington, The Westmont Gardens Wildwood Park Wildwood Towers Windsor Towers Woodland Hill Apts Total
Notes on data
Total Units 30 22 198 109 245 299 172 85 188 97 218 44 119 711 249 400 134 279 235 9,538
Columbia Place (16 units) is not built yet. Four complexes dont have information (Uncategorized): Penrose Square is still under construction, G. W. Carver is a co-operative, and Carman and 2814 are small complexes with non-reported rents. Many complexes have rents around 60% AMI. Units often shift between 60% and 80% MARKs categories. This analysis uses 2009 rents. We will be receiving 2010 rent data in the next two months.
2010 CAFs, MARKs and Market Rate Rental Units Arranged by Rent Levels and Subareas
Complex Name 55 Hundred Barton Place Carman Apartments Columbia Gardens Apts Columbia Grove Fields (Columbia Commons) Greenbrier Apts Harvey Hall Holiday Hills Infinity Apartment Homes Key Gardens Magnolia Commons Monterey Apartments Tyroll Hills Apartments Wildwood Park Wildwood Towers Windsor Towers Subarea 1 4300 COLUMBIA PIKE Barcroft Apartments Buchanan Gardens Columbia Park Oakland Apts Quebec Apts Whitmore Taylor Square Westmont Gardens Subarea 2 Subarea 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 2 2 2 2 2 2 2 2 2 Total CAFs 0 0 0 0 210 189 0 115 0 0 22 0 109 0 0 0 0 645 0 0 111 0 0 129 0 44 0 284 60% MARKS 0 12 0 62 0 0 108 0 18 0 4 198 0 119 0 0 43 564 15 1318 0 0 245 0 0 0 0 1578 80% MARKS 0 21 0 0 80 10 0 0 0 227 0 0 0 0 400 133 236 1107 0 0 0 178 0 43 218 0 249 688 Market Rate (above 80%) 235 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 236 0 0 0 0 0 0 0 0 0 0 Uncategorized 0 0 16 0 0 0 0 0 0 0 0 0 0 0 0 0 0 16 0 0 0 0 0 0 0 0 0 0 Total Units 235 33 16 62 210 199 108 115 18 227 22 198 109 119 400 134 279 2484 15 1318 111 178 245 172 218 44 249 2550
Complex Name 2200 2814 S 13TH ST Archstone Columbia Cros Arlington View Terrace Columbia Pike Apartments Dominion Plaza Dominion Towers Dorchester Apts Dorchester Towers Fillmore Gardens G. W. Carver Homes Halstead Key Apartments Penrose Square Siena Park Wellington Subarea 3 Foxcroft Terrace Subarea 4 Shawnee Apts Spectrum Apts Woodland Hill Apts Outside Subareas
Subarea 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 4 0 0 0
Total Units 218 6 247 77 114 318 330 388 260 559 44 269 30 299 188 711 4058 29 29 85 97 235 417
Five complexes comprise 80% of the 60% MARKs Barcroft Apartments Fillmore Gardens Dominion Plaza Oakland Apartments Magnolia Commons
Ten complexes comprise 80% of the 80% MARKs Wildwood Park Windsor Towers Dorchester Apartments Dominion Towers Dorchester Towers Westmont Gardens Archstone Columbia Crossing Infinity Apartment Homes Taylor Place 2200
2010 CAFs, MARKs, Market Rate Rental Units by Rent Levels and Unit Mix
Total Units 218 6 15 235 247 77 1318 33 111 16 62 210 178 114 318 330 388 260 199 559 29 44 108 269 115 18 0 12 12 0 48 155 51 0 60 102 37 0 0 0 15 18 Market Rate 60% 80% (above 2 BR 3 BR Total CAFs MARKS MARKS 80%) Uncategorized 71 0 6 49 100 67 590 21 28 12 37 109 131 28 64 66 156 58 82 120 14 0 0 0 0 12 0 46 0 2 0 0 0 6 0 0 0 49 30 25 0 0 0 0 0 0 0 77 0 0 111 0 0 210 0 0 0 0 0 0 189 0 0 0 0 0 115 0 0 0 15 0 0 0 1318 12 0 0 62 0 0 0 254 69 43 0 0 559 29 0 108 0 0 18 218 0 0 0 235 0 0 21 0 0 0 80 178 86 64 261 345 260 10 0 0 0 0 0 0 0 0 0 0 235 12 0 0 0 0 0 0 0 0 28 0 0 0 0 0 0 0 0 0 269 0 0 0 6 0 0 0 0 0 0 0 16 0 0 0 0 0 0 0 0 0 0 0 44 0 0 0 0
Complex Name 2200 2814 S 13TH ST 4300 COLUMBIA PIKE 55 hundred Archstone Columbia Cros Arlington View Terrace Barcroft Apartments Barton Place Buchanan Gardens Carman Apartments Columbia Gardens Apts Columbia Grove Columbia Park Columbia Pike Apts Dominion Plaza Dominion Towers Dorchester Apts Dorchester Towers Fields (Columbia Commons) Fillmore Gardens Foxcroft Terrace G.W. Carver Greenbrier Apts Halstead Harvey Hall Holiday Hills
Eff. 0 1 0 0 0 0 16 0 0 0 0 0 0 7 129 69 43 58 14 0 0
1 BR 147 5 9 186 135 10 666 12 81 4 25 101 41 79 125 195 140 114 78 439 15
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Complex Name Infinitiy Apartment Towers Key Apartments Key Gardens Magnolia Commons Monterey Apartments, The Oakland Apts Penrose Square Quebec Apts Shawnee Siena Park Spectrum Apartments Taylor Square Tyroll Hills Apartments Wellington, The Westmont Gardens Whitmore (Taylor Place) Wildwood Park Wildwood Towers Windsor Towers Woodland Hill Apartments Total
Total Units 227 30 22 198 109 245 299 172 85 188 97 44 119 711 249 218 400 134 279 235 9,538
Market Rate 60% 80% (above 2 BR 3 BR Total CAFs MARKS MARKS 80%) Uncategorized 85 5 0 0 227 0 0 10 10 131 60 81 105 81 36 45 48 27 80 214 107 94 168 78 121 35 3,624 38% 0 0 0 19 42 5 0 20 0 0 0 0 7 25 10 20 0 20 0 376 4% 0 22 0 109 0 0 129 0 0 0 0 44 0 0 0 0 0 0 235 30 4 198 0 245 0 0 29 0 0 0 0 119 0 0 0 0 43 0 0 0 0 0 0 0 43 56 0 97 218 0 0 7 249 400 133 236 0 0 0 0 0 0 0 0 0 188 0 0 0 0 704 0 0 1 0 0 0 0 0 0 0 299 0 0 0 0 0 0 0 0 0 0 0 0 0
Four complexes dont have information Penrose Square is still under construction G. W. Carver is a co-operative Carman and 2814 are small complexes with non-reported rents
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Archstone Columbia Crossing new construction (1990) Whitmore rehabilitation Infinity Apartment Homes Wellington rehabilitation rehabilitation
*includes one bedroom plus den. Some complexes can charge two bedroom rents for these units. Here, I use one bedroom rents **includes one bedroom plus den and two bedrooms plus den. Notes: Siena Park and 5500 are not yet in Arlington apartment databse. These rents are based on online postings.
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(Source: RealtyTrac, December 2008, June 2009. Foreclosure listings include Pre-Foreclosure, Auction and Bank Owned Properties)
Arlingtons Moderate Income Purchase Assistance Program (MIPAP) has had 0 defaults. MIPAP provides assistance to qualified first-time homebuyers of up to 25% of the purchase price towards the purchase of a home in Arlington. MIPAP uses a shared appreciation model. Four neighborhoods (Penrose, Arlington Heights, Alcova Heights, Barcroft) had average single family home sales prices greater than $500,000. Three neighborhoods (Columbia Heights, Columbia Heights West, Douglas Park) had average single family home sales prices between $400,000-$500,000. Four neighborhoods (Columbia Forest, Arlington View, Foxcroft Heights, Forest Glen) had average single family home sales prices less than $400,000. See table on page 20 regarding sales data July 2008-June 10. Only three neighborhoods (Columbia Heights, Columbia Heights West, Columbia Forest) have a significant number of condos. Condo sales prices in Columbia Forest and Columbia Heights West average approximately $160,000-$176,000. Columbia Heights condo sales prices average approximately $262,000. See table on page 18 regarding sales data July 2008-June 10. Over 50% of the 3,600 condos in the study area are two-bedroom or larger.
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Condo List
1 2 3 Arlington Heights 4 Arlington Village 5 Barkley Condo 6 Birdwood Condo 7 Carlton Condominium 8 Carlyle House Condo 9 10 11 Columbia Court Condo 12 13 14 15 16 17 18 19 Lancaster Condo 20 Palazzo Condo 21 Park Glen Condo 22 23 Park View Condo 24 Sierra Condominium 25 Tanglewood Condo 26 Westhampton Mews 1979 70 3,679
Axumite Village (36 units) is not built yet
Year Built/ Converted 1939/1981 1947 1979 1939/1979 1982 1984 1965/1984 1980 1975/2004 1963/1979 1989 1960/1972 1948/1984 1987 1985 1984 1947/1974 1963/1980 1963/1983 1964/1980 1947/1982 1968/1975 1991 2005 1965/1981
Total Units 60 58 111 595 125 4 504 136 408 101 15 190 134 96 37 18 168 163 102 86 216 135 6 97 44
Address 2600 16th St S 2909 16th Rd 836 S GREENBRIER STREET 1510 S EDGEWOOD STREET 1016 S WAYNE STREET 941 S George Mason Drive 4600 S FOUR MILE RUN DRIVE 5300 COLUMBIA PIKE 4500 S FOUR MILE RUN DRIVE 5565 Columbia Pike 935 S SCOTT STREET 5101 8TH ROAD 2908 S 13TH ROAD 3957 9TH ROAD 1589 S BARTON STREET 4931 7TH ROAD 5003 10TH STREET 1509 S GEORGE MASON DRIVE 1830 COLUMBIA PIKE 5353 COLUMBIA PIKE 810 S ARLINGTON MILL DRIVE 5065 7TH ROAD 905 S SCOTT STREET 801 S GREENBRIER STREET 4241 COLUMBIA PIKE 947 S ROLFE STREET
Type Townhouses Midrise Townhouses Townhouses Stacked Townhouses Townhouses Highrise Highrise Highrise Highrise Townhouses Highrise Garden Townhouses Townhouses Stacked Townhouses Garden Garden Highrise Highrise Garden Garden Townhouses Garden Highrise Stacked Units
Columbia Knolls Commons of Arlington Dundree Knoll Condo Fairway Village Condo Forest Knoll Condominium Frederick Courts George Mason Villages Condo
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0 0 0 32 0 0 0 0 0 284 10%
Notes: Not able to locate unit mix information for all condo complexes
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$ 332,000 $ 340,000 $ 363,000 $ 266,651 $ 172,000 $ 393,000 $ 304,000 $ 342,000 $ 299,000 $ 159,000 $ 242,000 $ 262,618 $ 195,766
14 3 6 43 5 5 37 2 9 19 12 89 475
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The chart below shows the various ratios of household income to purchase price.
w/MIPAP 5.2 4.6 w/o MIPAP 4 3.5
Therefore, the Columbia Pike housing information analysis of single family sales has two iterations. The two iterations are 2.5 and 4, ranging from conservative to aggressive estimates for how much a household could afford.
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$ $ $ $ $ $ $ $ $ $ $ $
100% AMI for a family of 4 is $103,000 Notes: Condos excluded from this analysis Duplexes and attached homes are included
Source: Department of Real Estate Assessments (DREA)
DREA neighborhood boundaries are not exactly the same as the Columbia Pike Planning area boundaries
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Eff/1 1
1 1.5 2
$58,000 $62,120 $66,240 $74,560 $ 103,500 $82,800 $86,120 $89,440 $96,080 $102,720 $106,040 $109,360
$54,375 $58,238 $62,100 $69,900 $77,625 $80,738 $83,850 $90,075 $96,300 $99,413 $102,525
$50,750 $54,355 $57,960 $65,240 $72,450 $75,355 $78,260 $84,070 $89,880 $92,785 $95,690
$47,125 $50,473 $53,820 $60,580 $67,275 $69,973 $72,670 $78,065 $83,460 $86,158 $88,855
$43,500 $46,590 $49,680 $55,920 $62,100 $64,590 $67,080 $72,060 $77,040 $79,530 $82,020
$39,875 $42,708 $45,540 $51,260 $56,925 $59,208 $61,490 $66,055 $70,620 $72,903 $75,185
$36,250 $38,825 $41,400 $46,600 $51,750 $53,825 $55,900 $60,050 $64,200 $66,275 $68,350
$32,625 $34,943 $37,260 $41,940 $46,575 $48,443 $50,310 $54,045 $57,780 $59,648 $61,515
$29,000 $31,060 $33,120 $37,280 $41,400 $43,060 $44,720 $48,040 $51,360 $53,020 $54,680
3 4
4.5 5
6 7
7.5 8
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Unit Size
Family Size
Affordable
Rent 65%** Rent 60%** Rent 55%** Rent 50%** Rent 45%** Rent 40%**
Eff/1 1
1 1.5 2
$1,450.00 $1,553.00 $1,656.00 $1,864.00 $2,587.50 $2,070.00 $2,153.00 $2,236.00 $2,402.00 $2,568.00 $2,651.00 $2,734.00
$1,359.38 $1,455.94 $1,552.50 $1,747.50 $1,940.63 $2,018.44 $2,096.25 $2,251.88 $2,407.50 $2,485.31 $2,563.13
$1,268.75 $1,358.88 $1,449.00 $1,631.00 $1,811.25 $1,883.88 $1,956.50 $2,101.75 $2,247.00 $2,319.63 $2,392.25
$1,178.13 $1,261.81 $1,345.50 $1,514.50 $1,681.88 $1,749.31 $1,816.75 $1,951.63 $2,086.50 $2,153.94 $2,221.38
$1,087.50 $1,164.75 $1,242.00 $1,398.00 $1,552.50 $1,614.75 $1,677.00 $1,801.50 $1,926.00 $1,988.25 $2,050.50
$996.88 $1,067.69 $1,138.50 $1,281.50 $1,423.13 $1,480.19 $1,537.25 $1,651.38 $1,765.50 $1,822.56 $1,879.63
$906.25 $970.63 $1,035.00 $1,165.00 $1,293.75 $1,345.63 $1,397.50 $1,501.25 $1,605.00 $1,656.88 $1,708.75
$815.63 $873.56 $931.50 $1,048.50 $1,164.38 $1,211.06 $1,257.75 $1,351.13 $1,444.50 $1,491.19 $1,537.88
$725.00 $776.50 $828.00 $932.00 $1,035.00 $1,076.50 $1,118.00 $1,201.00 $1,284.00 $1,325.50 $1,367.00
3 4
4.5 5
6 7
7.5 8
* Median Income as adjusted by US Department of Housing and Urban Development ** All Income and Affordable Rent Limits will be adjusted to the nearest whole dollar. Note: If tenants pay utilities, "Affordable Rent" amounts will be adjusted downward by the estimated cost of those utilities
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COMMENTS
Changing to request for $5 million, per Housing Commission FY2011 memo Is North Tract a brownfield development? No AH
Funding
Strategy
Strategy
Y Residents tend to complain about lax code enforcement in Arlington historically. Done in the past two years, when Code Enforcement became a revenue producing department that pays its own way. More inspectors hired. Similar to the Affordable Housing Ordinance; provision for Commercial/Residential contribution
Code Enforcement
Strategy
Code Enforcement
Increase number of code enforcement inspectors Tie new economic development to the construction and maintenance of affordable housing and other community needs. Require developers to pay fees ($ per sq footage) to support affordable housing. Arlington utilizes this funding stream. Commission CDCAC (chaired by Larry Withers) oversees this funding. Non-profits aquire and hold land for community benefit, making the land available through long-term land leases. Residents own the homes, but there is permanent affordability and ownership opportunities for individual residents. Linking information to place through visual representation of data by geography or location. Answers the questions: Do we need more affordable rental or ownership units? Where is the job growth occurring? What are the land use implications of new transportation, rail, etc? Who owns the most slum housing, tax delinquent properties or those with code violations in an area? Federal law mandating that financial and depository institutions help meet the credit needs of the communities in which they operate. These taxes generate revenue when existing residential structures are torn down. They can help offset the negative effects teardowns have on a community.
Strategy
Strategy
Funding
Strategy
Strategy
Strategy
Basically, impact fees levied on new development in exchange for approval to proceed with a project. Used in California.
Strategy
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Eviction Controls
For multi-family property owners of affordable housing, if the property is sold to a tenants association or a nonprofit that will keep it affordable for at least 30 years. A growing number of employers are developing programs to help their employees find and afford housing closer to work. Such programs may include homebuyer counseling and financial assistance to homebuyers or renters. Most programs offer down payment assistance for homebuyers. Tax incentives make Employer Assisted Housing incentives a very attractive and cost-effective program. These laws give special protections to the elderly, disabled and catastrophically ill, and ensure that landlords can only evict with proper cause, such as failure to pay rent or property destruction. They protect renters against being unfairly evicted by landlords who want to capitalize on the explosive rental and housing markets.
Strategy
Arlington does this minimally; would rather get taxes and give assistance We have "live where you work" - business community not engaged enough (Kathleen's opinion). Also, legal issue with program in VA?
Funding
Strategy Susan Bell has discussed "Green Tape" initiatives, and permitting process has been improved. Not necessarily streamlined for site plan process, though. We track this, and highlight in Goals and Targets report. In 2009, we let some committed units go, but most served those at 80% AMI - not Arlington's definition of affordable in general it is 60%.
Strategy
Protects "expiring use" subsidized housing from losing its affordability-designation and reverting to the private market. This tool clarifies ways to protect affordable housing originally supported by HUD, with a special focus on regions with extreme housing shortages, and not coincidentally, considerable amounts of gentrification. Allows the trade-in of Mortgage Revenue Bond issuing authority for the authority to issue Mortgage Credit Certificates. These would allow home ownership to offset income taxes on a dollar-for-dollar basis for mortgage interest paid. Municipalities can use their zoning power to produce affordable housing at little or now cost to taxpayers by providing some zoning flexibility for developers who incorporate affordable housing in a project. For example, affordable housing developers can receive density bonuses, increased floor area ratios and reduced parking or setback requirements.
Strategy
Funding
Strategy Discuss creation of a Northern Virginia housing finance and development agency. Funding
Funding
Used in Arlington recent projects include Buckingham, Gates of Ballston and HBP
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Inclusionary Zoning
A partnership wherein residents collectively own and control their housing. The limited equity component limits the return on resale, insuring that housing remains affordable to future residents. Limited equity co-ops promote democratic participation through resident control and ownership. Public funds, established by legislation, ordinance or resolution, to receive specific revenues dedicated to affordable housing development. The key characteristic of a housing trust fund is that it receives on-going revenues from dedicated sources such as commercial development taxes, fees on loan repayments, and transfer taxes. These funds can stabilize communities facing gentrification pressures. Land use regulation mandating a percentage (usually 15-20%) of the housing units in any project above a given size be affordable to people of low and moderate incomes. The developer can build the housing or contribute to a fund to develop it elsewhere. This tool has particular relevance in gentrifying communities, where high-income and luxury apartment developments can quickly overrun the existing lowand moderate-income housing stock. A Location Efficient Mortgage increases the amount of money homebuyers in urban areas are able to borrow by treating as additional income the money they will save by living in walkable neighborhoods with public transit, thereby driving less frequently.
Strategy
Coops have had mixed results in Arlington. Charlie Rinker is the local expert in this subject.
Funding
Underway nationally, and in VA? Differs from AHO, since it mandates a percentage of project, but result could be the same (pay out). Is this a Dillion Rule issue? Doesn't Fairfax use inclusionary zoning? This has been discussed - not sure what the credit market/lenders have to say about this now. Practically every project uses these. We have some zoning amendments to encourage this, and the UC/MUD use permit was created to provide an incentive in Arlington. Could be expanded, though.
Strategy
Funding
Funding Municipalities can permit or encourage mixed residential and commercial uses in downtowns, commercial centers and commercial corridors. In such districts, housing can be interspersed with or above commercial uses. This is can be an effective way to revive interest in a downtown or to expand a commercial corridor. Municipalities can make it easier to build affordable housing by increasing the number or size of districts zoned for multi-family housing. Similarly, in some cases, they can create districts where multi-family housing is permitted if an affordable component is included.
Strategy
Strategy Strategy
Funding Enhance the County's use of mechanisms such as preservation and grants, with the goal of maintaining such housing in decent, safe and sanitary condition, without the large rent common when such properties change hands and are redeveloped.
Preservation Grants
Funding
Strategy
Buckingham looked into this, but market may no longer support this. County proactively speaks with owners whose properties need some rehab - AHIF money is used for this, as well as LIHTC. ANDC initiative. Arlington Mill is an example. Subcommittee looking at properties.
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This innovative tool reviews techniques through which tax regulations can limit two destabilizing practices in low- and moderate-income communities: delinquency, when property taxes are not paid on blighted property; and speculation, when land is acquired with the intent of 'flipping' its ownership strictly for profitability as the housing market inflates.
Strategy This is used in affordable projects. WACOG does have a housing group, which Barbara Favola chairs. They have published an advocacy toolkit and have set out goals for the region.
Strategy Regional fair-share housing plans disperse low- and moderate-income housing to a number of communities, instead of allowing it to concentrate in just one area. Regional Fair Share agreements ensure that local governments contribute to affordable housing costs to meet the overall metropolitan demand. A review of legal and programmatic protections for renters to slow the pace in markets with rapidly escalating rental prices. The effectiveness and implications of rent control has been heavily debated for as long as such ordinances have existed
Strategy
Strategy Strategy
N Y MIPAP loans have resale restrictions. We utilize this extensively in Rosslyn/Ft. Myer Heights. You need to have enough density could be used in Crystal City, perhaps. Limited, but Arlington does do this. This was labeled TIPIF and used in Columbia Pike to pay for parking. Need to talk about using for Affordable Housing, as Chicago did so successfully in 1990s.
Tenant Conversion
Create SAHPD across the County where shortages of affordable housing exist. Lower income tax on affordable properties, or lowered assessments TIF funding dedicates new property tax revenue that arises when a rundown area undergoes significant new public or private development that increases its taxable value. These new revenues, also called increments, are used to help finance some or all of the improvements that raised the areas value. State law provides guidelines that allow for establishing TIF districts. Tenant initiated cooperative and condo conversions encouraged through technical assistance, financial education and benefits for low-income tenants to participate
Strategy Strategy
Y Y
Strategy
Strategy
VHDA Ban on Unrelated Singles To create incentives to preserve market rate affordable housing, or slow teardowns and redevelopment. Remove townhouses from zoning categories or land use where market rate buildings are at risk.
Funding
Limited success in Arlington Work to repeal the VHDA regulation that bars unrelated singles from using its mortgage programs to purchase homes
Strategy
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(HOPWA). The Real Estate Tax Relief program assists low and moderate income homeowners through exemptions and/or deferral of real estate taxes. Housing Unit: An occupied or vacant house, apartment, or a single room that is intended as separate living quarters. Market Affordable Units (MARKS) are lower rent units in the private market which receive no County assistance and which the owners have made no commitment to retain as affordable in the future. Determining the number of market rate affordable units is complicated and imprecise because the affordability varies depending on family size and income compared to unit size and rent.1 MARKS are affordable based on paying no more than 30% of income for rent. The County has calculated the number of Rental MARKS for three income levels: 80%, 60% & 50% of the HUD incomes Area Median Income (AMI). MARKS-80% are units affordable to households with incomes between 60% and 80% of median; MARKS-60% are units affordable to households with incomes up to 60% of median; MARKS-50% are affordable at up to 50% of median income. Committed Affordable Units are excluded from the MARKS totals. For the most recent count of MARKS, see page four of the DRAFT Arlington County Consolidated Plan Citizen Summary, http://www.arlingtonva.us/departments/CPHD/housing/pdf/file75175.pdf.
Moderate Income Purchase Assistance Program (MIPAP): This program provides financial assistance for down payments and/or closing costs for first-time homebuyers with incomes below 80% of median family income.
1 In County calculations of affordable market-rate housing: 1) the statistics on income are based on U.S. Department of Housing and Urban Development (HUD) median family incomes for the Washington Metropolitan Area; 2) the household sizes per unit type are based on Internal Revenue Service (IRS) standards for housing financed through federal tax-exempt bonds; 3) the number of units and rents are calculated using the Countys Annual Rent and Vacancy survey conducted by the Housing and Community Development Division; and 4) as the response rate to the County survey is below 100%, the numbers of units identified as affordable are extrapolated to equal a 100% response.
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