The AHSC Program will assist project areas by providing grants and/or loans, or any combination thereof, that will achieve GHG emissions reductions and benefit Disadvantaged Communities through increasing accessibility of affordable housing, employment centers, and key destinations via low-carbon transportation resulting in fewer vehicle miles traveled (VMT) through shortened or reduced trip length or mode shift from Single Occupancy Vehicle (SOV) use to transit, bicycling, or walking. Three Project Area types have been identified to implement this strategy:
- Transit Oriented Development (TOD) Project Areas,
- Integrated Connectivity Project (ICP) Project Areas, or
- Rural Innovation Project Areas (RIPA).
The assistance terms and limits include, but are not limited to, the following requirements:
- The maximum AHSC Program loan or grant award or combination thereof is $50 million with a minimum award of at least $10 million in all Project Area types.
- A single developer may receive no more than $100 million per NOFA funding cycle.*
*These limitations may be waived if necessary to meet statutorily required Affordable Housing and Disadvantaged Community set-asides.
Statutory Funding Set-Asides
Fifty (50) percent of the available funds are set aside for Affordable Housing Developments, and 50 percent of the available funds are set aside for projects benefitting Disadvantaged Communities.
Note: A single project can address both set-asides above, and are not mutually exclusive.