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Arlington County Affordable Housing. Ken Aughenbaugh Housing Director May 16, 2012. The Results. Over 3,300 new affordable rental units committed since 2000 Total number of committed affordable rental units is now over 6,500 - PowerPoint PPT Presentation
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Arlington County Affordable Housing
Ken AughenbaughHousing Director
May 16, 2012
The Results
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• Over 3,300 new affordable rental units committed since 2000
• Total number of committed affordable rental units is now over 6,500
• In the past three years (2009-2011), Arlington County has loaned out an average of over $18 million per year in AHIF funds
Committed Affordable Rental Units Now Form
over 14% of Rental Stock!
AHIF Resources FY 2012 FY 2013
New Allocation $6,688,557 $9,480,623
DeveloperContributions
$2,800,000(projected)
$6,300,000(projected)
Loan Repayments &Payoffs
$6,000,000(projected)
$4,500,000(projected)
Total $15,488,557 $20,280,623
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Housing Development Funding
Housing Development Outcomes
FY11-12 AHIF Funding Outcomes:
1 The Colonial Village, Scattered Site and Marbella projects were previously included in the total CAF unit count and have been preserved with commitments extended to 60 years.
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Project Total Allocated Funds
Total Development
Cost
CAF Units Created &
Preserved 1
AHC’s Scattered Site $1,002,150 $22,436,393 103
Colonial Village $2,500,000 $40,117,684 162
Howard Manor $6,380,000 $20,641,438 76
Arlington Mill $4,247,261 $28,659,510 121
Marbella $4,031,000 $14,302,825 134
Magnolia Commons $13,266,315 $56,668,147 198
Total $31,426,726 $182,825,997 794
Potential Pipeline Project Needs
• Through Balance of FY 2012:• Harvey Hall /Annex of Shell Site (83 units): AHC, $6.0 million (March 2012)
• Buckingham Village 3 (48 units): Telesis, no AHIF needed (March 2012)
• Subtotal Anticipated Requests FY’12 = $6.0 million
• FY 2013 and 2014 Potential Requests:
• Buckingham Village 3 Debt Service: $2.2 million (July 2012)
• Preliminary discussions with non-profits on 4 other potential pipeline projects to create up to 450 units (these requests could occur beyond FY 2013 and 2014)
• Columbia Pike Land Use and Housing Study projection: $7-$13 million (estimated)
• Subtotal Potential Pipeline Requests FY’13 = $40.2 - $56.2 million
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Housing Budget
County Board Added:
• $2.8 Million to AHIF
• $2.2 Million to Housing Grants
FY 2013 Manager’s Proposed Budget
Over $50 Million in HousingPrograms for FY 2013
Housing Grants
Columbia Pike – Neighborhoods Plan
• Ambitious Goals & Exploration of Incentives:– Preserve 75% of the MARKS – approx 5,000 units– Increase moderate income ownership opportunities
• Outstanding items:– Housing expectations to enter Form Based Code– Additional work on other incentives - partial tax exemptions, etc.– Additional policy work – historic preservation, TDR’s, etc.
• Timeline: – Housing Comm – June 7 & July 12– Planning Comm – July 9/11– Adoption by County Board – July 21/24
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Housing Study
• Data Collection & Analysis – Housing Needs Survey
• Assessment of Community Housing Needs
• Next Generation of Goals and Targets
• Address other Policy Issues
• Community Engagement
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CAF Map
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