UTC Backup Item 2A — original pdf

Backup

HOUSING & PLANNING DEPARTMENT Project Connect $300 Million Anti-Displacement Funding Implementation Plan Contents • Utilizing the Equity Tool & Report • Anti-Displacement Funds – Budget for Years 1 & 2 • Community Development Fund – Uses & Availability • Next Steps Utilizing the Tool Report • Priority Places: All Investments will be focused in displacement risk areas within 1 mile of a Project Connect station as recommended by the Tool. • Priority Purposes: Investments must advance at least one priority purpose as recommended by the Tool. • READ Tool Maps and Dashboard: To understand the conditions in the respective geographies to prioritize investment. • Application and Scoring Criteria: The Tool will inform the scoring criteria for the Community Development Fund’s competitive process. 3 Utilizing the Tool Report • The report is an aspirational document that: • explains why these funds are needed • defines where they are most needed • and outlines how to address displacement through community priorities, including: affordable housing, high-quality jobs, cultural anchors, support of BIPOC-owned business, and purchasing land for community-led projects 4 Utilizing the Tool Report • The Tool was designed using a community lens to help guide decisions about the use of anti- displacement funds. • Organizations applying for funds will use the Report and the Tool to help guide their proposed solutions. • The grant Application and Evaluation have been informed by questions in the tool. 5 Utilizing the Tool Report 6 Project Connect Anti-Displacement Investment Strategy  The Investment Strategy is not one single thing, but it is a series of informative steps, processes, research and data that informs how we focus the investments. Who?  Who? Demographic Focus – Persons identified by the Uprooted Report as Vulnerable to Displacement  Where? Geographic Focus – Within 1 mile of a Project Connect station and living within an area that is experiencing Active, Chronic or Vulnerable displacement risk.  What? Protect, Preserve, Produce  When? Timing – this is a crucial consideration as to what investments should be made and when. How? Where?  How? Establishing Equitable Processes – Centering community voices and elevating their priorities, purposes, places. When? What? 7 Anti-Displacement Fund Budget – Years 1 & 2 $265,000 Community Engagement & Outreach $20,000,000 Community Development $735,000 Staffing $23,000,000 AHFC Land Acquisition $ 65 Million $21,000,000 Land Development (RHDA/OHDA) 8 AHFC Land Acquisition Funds allocated to AHFC for use including loans to eligible 501c3 non-profits for the purpose of: 1. Preserving and developing affordable housing on small sites, as well as rental and ownership on larger sites 2. Land acquisition and banking for development of large sites, both rental and ownership, as well as for expansion of city owned community land trust within one (1) mile of PC in areas active and most vulnerable to displacement. $23,000,000 AHFC Land Acquisition 9 Land Development To assist private and nonprofit developers acquire state tax incentives and bonds for Rental Housing Development Assistance (RHDA) and Ownership Housing Development Assistance (OHDA) for the purpose of: 1. Acquisition, 2. Rehabilitation, and 3. New construction of affordable housing for low - to moderate- income homebuyers within one (1) mile of PC in areas active and most vulnerable to displacement. $21,000,000 Land Development (RHDA/OHDA) 10 Community Development A competitive grant process for community-initiated solutions that: 1. Prevent the displacement of Tenants 2. Prevent the displacement of 3. Create economic mobility Homeowners opportunities within one (1) mile of PC in areas active and most vulnerable to displacement $20,000,000 Community Development 11 Community Development  Renters/Tenant Stabilization These investments may include a range of tenant investments and stabilization services to include, but not limited to:  Tenant legal services and representation  Emergency rental assistance  Education on Fair Housing Laws & Tenant Rights  New program services and investments to help stabilize tenants 12 Community Development  Expanding and Preserving Homeownership Opportunities These investments may include a range of programs and services that expand and preserve homeownership opportunities to include, but not limited to:  Down payment and closing cost assistance programs  Mortgage & Foreclosure Assistance  Home rehabilitation and repair loans  Existing community land trusts and housing cooperatives  New program services and investments to help stabilize tenants 13 Community Development  Other Anti-Displacement Strategies These will include investments that build economic mobility opportunities within the impacted area of Project Connect. This may include a variety of solutions aimed at:  emerging cooperative homeownership,  community land trusts,  use of publicly owned land for community benefit,  building community wealth through traditional and innovative housing solutions that lead to equitable development without displacement. 14 Next Steps – Launch Community Development Fund Outreach •Outreach: February – May 31, 2022 Outreach meetings will be conducted within 1 mile of a Project Connect stations in communities with vulnerable, active, and chronic displacement risk. NOFA Released • Notice of Funding Released: March 31, 2022 Pre-Proposal Meetings & Technical Assistance • Pre-Proposal Meeting: April 4, 2022 – Zoom/Teams and Live Stream Technical Assistance: April 5 – May 31, 2022 (specific dates to be announced) 4 Applications Due & Awardees Notified • Applications Due: June 3, 2022 • Applicants Are Notified: Fall 2022 1 2 3 15 Establishing Future Investment Priorities • Project Connect Community Advisory Committee • Broader Community Engagement • Participatory Budget Process • 3 Year Budget Planning Process: (Spring 2022, 2024, 2026 & 2028) 16 Questions Thank You Nefertitti Jackmon Community Displacement Prevention Officer Nefertitti.jackmon@austintexas.gov Join the Project Connect anti-displacement email list to receive regular updates on the progress of these initiatives and ways to stay engaged: https://bit.ly/antidisplacementupdates 17