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Recommendations B.1) Use an evaluation methodology that includes minimum thresholds as well as more detailed evaluation of outcomes. MTC has already established some baseline criteria through the Place Types in the Station Area Planning Manual and "Reforming Parking Policies to Support Smart Growth ". Other regional and state agencies (including BAAQMD and the State Housing and Ccommunity Development Department) have more detailed metrics for evaluating potential projects for funding. MTC can build from these existing metrics for a TOD financing program. 8.2) Create a transparent evaluation system that involves stakeholders in the evaluation process. The additional level of investment that a TOD financing program would represent would benefit from an additional level of involvement in application evaluation from a range of stakeholders. This approach also reinforces the regional nature of the program without the need for targeted funding to geographic areas. B.3) Clearly define the types of activities that are eligible for funding and work with local jurisdictions through the application process to maximize project potential. Market conditions may factor into the eligibility of certain types of uses or funding structures. It is challenging to define when a project would not have otherwise been built except for the availability of regional funds, but at the same time, funding should be targeted to those projects that can clearly demonstrate need. C. Allocation of Funds In establishing a TOD financing program, there are important decisions to be made about how funding will be allocated. These decisions include the geographic allocation, the size of individual project allocations, and the funding cycle. The existing TLC Program has already established many of these criteria. The other MPO programs provide lessons that are instructive as the TLC Program is expanded to include TOD financing. Recommendations C.1) Cap individual project awards around $7.5 million, but allow projects to return in multiple years. Some cap is appropriate in order to spread project funding throughout the region. Additionally, articulating a cap explicitly will encourage only those projects that really need funding to come forward. While $7.5 million is a recommended starting point for the cap, the cap should be flexible and set based on funding availability and goals. C.2) Target places, and not projects. Funding for TOD and infill should support a broader community investment strategy, rather than one -off projects. Funding should reward the communities that have developed coherent community visions, either through MTC's Station Area Planning Grant program or through other means. C.3) Do not cap funds for geographic areas. The TOD financing program will be most effective when there are clear regional goals for which projects from around the region compete. The program should recognize that there will not be the same types Program Options Icy an Expanded TLC Program 2 ?