Tools for

AFFORDABLE HOUSING in Arlington

County’s Commitment Arlington continues to pursue opportunities to preserve and create affordable housing. The availability of affordable housing and access to housing assistance programs are priorities for the County. The County continues to maintain its level of tax support and increase its commitment for affordable housing and homelessness prevention and other high priority “safety net” programs that are critical in the current economic environment.

THE TOOLS

FACTS & FIGURES

Arlington works with federal and state government agencies to finance affordable housing $12.5 million allocated for FY 2014 Affordable Housing Investment Fund (AHIF). The fund is revolving loan fund used for affordable housing new construction, acquisition, and rehabilitation.

Permanent Supportive Housing, $2,064,870 (4%)

Arlington provides credit support to help secure financing A homebuyer program designed to improve the ability of first-time low- and moderatebuyers to purchase homes. Provides developers with incentives to build affordable housing Affordable Housing Ordinance offers developers seeking additional density in the site plan process the choice of providing affordable units or contributing to the Affordable Housing Investment Fund. Density Bonuses offer developers the right to build more units in exchange for providing affordable housing. The income from the units rented or sold at market rates offsets the costs of the affordable units. Transfer of Development Rights (TDRs) offers the option of transferring density from one site to another, more appropriate site in return for preserving affordable housing.

FY2014 Budget for Housing Programs

Housing Grants Rental Assistance Program, $8,000,000 (15%) Housing Services, $458,841 (1%) Homeownership Services, $268,114 (