Arlington County

Arlington County

The State of Affordable Housing

May 15, 2013

Looking Back, Moving Forward

Accomplishments 2012 through April 2013

The Shell – 83 Planned Affordable Units

Housing Assistance Program

Housing Choice Voucher 1,383 HH in March 2013

Housing Grants 1,200 HH in March 2013 (9% growth FY11-12)

Homelessness Prevention and Rapid Re-housing Program (HPRP) 198 households in 2012 98% of prevention households served maintained stable

housing after 6 months

Housing Assistance Program

Permanent Supportive Housing (PSH) County is more than half-way to achieving goal of 425 PSH units The 277 PSH units include:

214 units occupied (including 34 units provided by non-profits)33 units available30 units in the pipeline (2014 delivery)

90% of PSH served between 2004-2012 remain housed

Arlington 100 Homes Campaign 153 Homeless people surveyed in 2011 Campaign on-target to meet goal of housing 100 people in 3-

years4

FY 2014 Housing Budget

TOTAL BUDGET =

$55.1 million

AHIF – The County’s Workhorse

Low interest loans

FY 2014 allocation = $12.5 million

AHIF Funds Appropriated by County Board

AHIF FY 2012 Components Total = $17.3M

Other Funding Resources

Community Development Block Grant ~$1.2 million

HOME Investment Partnership ~$500,000

Low Income Housing Tax Credits

Private Financing/Leveraging

Developing New Tools

New Neighborhoods Area Form-Based Code with Affordable Housing Requirement• 20% to 35% percent of net new units affordable to households earning between 40 % to 80% (AMI).

•Percentage of units required increases with density

Developing New Tools

Columbia Pike Financial Tools Partial Tax Exemptions New Tax Classification Tax Increment Public

Infrastructure Financing (TIPIF)

Tax Increment Financing (TIF)

“TOD Infrastructure Fund”

Assistance Mechanism for Site Work/Infrastructure

New Loan Program Pooled Equity Program

Affordable Housing Study

Element of Comprehensive Plan Priorities based on current & anticipated needs Recommendations to improve existing policies

and programs New policy recommendations Revised principles, goals and targets

Future Challenges

Demographics In-migration of 20-29 yrs = increased demand for 1-br/ efficiencies

Federal outlook (?)

CAFS are expensive

VHDA cost limits

Concern about density

Rental Units - 2-BRAvg. Rent/Month $2,213Rent/Month Affordable @ 60% AMI $1,449Difference $764Avg. AHIF/Unit $89,000

Ownership UnitsAvg. Cost of Home $515,000Avg. Purchase Price using MIPAP $226,000Difference $289,000Avg. MIPAP Loan Amount $76,000

Future OpportunitiesIncreased support for affordable housing

Pipeline partner projects

Pipeline site plan projects 10 active projects in process as of May 1, 2013

o Affordable Housing Ordinance contributions and bonus density/GLUP change negotiations

New Tools Columbia Pike Form Based Code Columbia Pike Financial Tools

Affordable Housing Study