Evaluation of California's Prop 1C TOD Housing Program
Today Housing California released its evaluation of Prop 1C TOD housing program funding. The Housing and Emergency Shelter Trust Fund Act (Proposition 1C), passed by California’s voters in 2006, authorized $2.85 billion in general obligation bonds to fund 13 housing and development programs. The program allocated funding over two years but unfortunately those were the same years that the housing market crashed and many of the projects have yet to be constructed.
Reconnecting America's Allison Brooks and Abby Thorne Lyman along with Strategic Economics' Dena Belizer (who is a partner in the Center for TOD) were on the steering committee evaluating criteria that the state used to allocate funds and evaluate its effectiveness. The criteria looked at everything including proximity to retail services and walkability as well as transportation affordability. Below is a list of criteria.
The report together with the original funding allocation process offers innovative, detailed thinking into the array of criteria that could be used to allocate affordable housing funds near transit at the state level. It could also provide guidance for future programs that perhaps are more permanent than the bond funds were. The challenge of the Prop 1c funding is that because it was temporary, it made it really hard for developers to factor it in to the way they fund and plan affordable housing. If you're going to use tax credits, you want to make your housing as competitive for the process as possible. In other words, if this funding were made more permanent it would make it easier for developers to change the way they plan, design, and build projects so that they are more transit oriented.