Laserfiche WebLink
Transit-Oriented Development Policy <br /> Adopted June 9, 2016 I Amended April 23, 2020 <br /> E. Invest Equitably <br /> 1. Increase scale of development at and near BART stations through catalytic investments in TOD,to help address <br /> the regional shortfall in meeting housing and other sustainable growth needs. <br /> 2. Implement BART's adopted Affordable Housing Policy and aim for a District-wide target of 35 percent of all <br /> units to be affordable, with a priority to very low (<50% AMI), low (51-80% AMI) and/or transit-dependent <br /> populations. To aid in achieving BART's 35%affordability goal, provide up to a 60 percent discount in ground <br /> lease for projects with at least 35%affordable housing(30%for projects with a high rise). Establish a framework <br /> for varying the eligible project discount based on the depth of affordability of the deed-restricted housing units, <br /> the demonstrated need for discounted ground rent, and efforts to benefit BART in other ways. <br /> 3. Pursue state, regional, and philanthropic partnerships that alleviate and prevent homelessness through <br /> production of affordable housing. BART's property will be offered at a greater discount if matched with <br /> regional-scale, external funding commitments for housing and homelessness. <br /> 4. Ensure the 4-Year Work Plan addresses how BART will achieve its affordable housing goals. <br /> Page 10 of 21 <br />