Support Affordable Housing in Arlington TOMORROW MORNING
jus...@stcharleschurch.org
PLEASE COME! YOU CAN MAKE A DIFFERENCE JUST BY SHOWING UP.
WHAT: Arlington County Board meeting
WHERE: County Board meeting room
3rd floor of County government building at 2100 Clarendon Blvd.
WHEN: 8:30 AM SATURDAY, DECEMBER 14 (Come at 8:00 to secure a seat.)
WHY: So that people with low and moderate incomes can continue to live in, and contribute to, Arlington
YOUR PRESENCE can make a difference. Come to support:
(1) Presentation of a petition circulated by VOICE (Virginians Organized for Interfaith Community Engagement) that calls for the creation of 1,000-1,500 new units of rental housing on public and nonprofit-owned land in the next 3-5 years, affordable for families making under $50,000
(2) Financial
and planning tools that will be used to preserve economic and cultural
diversity on Columbia Pike during its redevelopment: TAF, TIF, TOAH, and TDR (please
see below)
The VOICE petition will be presented during the public comment period, which starts at 8:30 AM.
The financial and planning tools will be discussed and (we hope) adopted by the Board when consent items are handled, around 9:15 AM.
You can simply come to support the petition presentation and the testimony in favor of adoption of the tools, or you may come to speak. If you want to speak, you must complete and submit a speaker's slip prior to the start of the hearing item. You do not have to stay for the entire two hearings.
Quick Glossary
TAF – Tenant Assistance Fund; redevelopment of multi-family rental properties and creation of Committed Affordable units of housing often cause financial hardship to existing tenants in the form of higher rents. TAFs often mitigate these hardships by subsidizing rents and ultimately preserve community.
TIF – Tax Increment Financing; the TIF calls for the establishment of a tax increment financing area (in this case the Columbia Pike Neighborhoods Area) to help fund affordable housing initiatives and provide funds that can be used to offset the expected displacement of low- and moderate-income and minority households. The idea is to set aside a portion of the increased real estate tax revenue which results from property value increases over the next several years along the Pike for the benefit of current low- and moderate-income residents who will be challenged to be able to remain as redevelopment occurs.
TOAH – Transit Oriented Affordable Housing Fund; TOAH would help Low Income Housing Tax Credit applicants pay for County fees and infrastructure-related costs so that these applicants might remain competitive in the tax credit selection process
TDR – Transfer of Development Rights; The County Manager is recommending several amendments to the existing TDR policy that would allow the use of the transfer of density as an incentive to residential property owners on the Pike to preserve and retain their market affordable housing. Transfers of density would be allowed by use permit under the form based code.