Encourage development projects that include affordable or below-market rate housing near transit to provide low-income residents with achievable housing options near transit and to mitigate potential displacement.
- Partner with community-based organizations (CBOs) and community development corporations (CDCs) where possible in development, property management, or resident services.
- Utilize various capital and financial resources, including local (e.g., taxing and bonding authority), regional, public, private, and philanthropic sources to encourage greater numbers of below-market rate (BMR) and affordable housing units than mandated by inclusionary requirements.
- Provide lower interest rates and longer terms for affordable housing development to minimize developer financial risk.
- Allow unbundled parking and eliminate minimum parking requirements for affordable housing and mixed-use developments near transit to increase financial feasibility.
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