arlington county affordable housing

Arlington County Affordable Housing

Ken AughenbaughHousing Director

May 16, 2012

The Results

2

• 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

3

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.

4

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

5

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

8

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

9

CAF Map

10