To increase public transit ridership by funding higher density affordable housing developments within one-quarter mile of transit stations and infrastructure improvements necessary for the development of specified housing developments.
Assistance Type and Terms
Under the program, low-interest loans are available as gap financing for rental housing developments near transit that include affordable units. In addition, grants are available to Localities and transit agencies for infrastructure improvements necessary for the development of specified housing developments, or to facilitate connections between these developments and the transit station.
The maximum Program Rental Housing Development Loan amount awarded for a single Housing Development or to a single Applicant, including any affiliates of such Applicant, is $10 million. The maximum Program Infrastructure Project Grant awarded to a Locality or transit agency Applicant is $5 million. The total maximum award amount for a single Project is $15 million.
To be eligible for funding, a Project must consist of either, or both:
- A Rental Housing Development Project; and/or
- An Infrastructure Project necessary for the development of specified Housing Developments, or to facilitate connections between these Developments and the Transit Station.
Refer to TOD Guidelines for complete description of eligible activities.
Eligible Applicants shall be one of the following:
- Developers for Rental Housing Development Projects,
- Localities (cities and counties) and transit agencies for Infrastructure Projects.
- Round 4 Guidelines (PDF)
- Round 4 Guidelines with Track Changes (PDF)
- Summary of Program Updates (PDF)
- Summary of Public Comments (DOC)
None at this time.