Arlington County Affordable Housing
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Transcript of Arlington County Affordable Housing
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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