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City of Rockville Live Near Your Work Program at Fallsgrove

City of Rockville Live Near Your Work Program at Fallsgrove. Katherine Kelly, Transportation Planner Wednesday, May 9, 2007. Development Agreement. Home Purchasers or Apartment Renters in Fallsgrove Developer Provides Credit to be Used Against Closing Costs, Upgrades or Initial Rent

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City of Rockville Live Near Your Work Program at Fallsgrove

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  1. City of RockvilleLive Near Your Work Programat Fallsgrove Katherine Kelly, Transportation Planner Wednesday, May 9, 2007

  2. Development Agreement • Home Purchasers or Apartment Renters in Fallsgrove • Developer Provides Credit to be Used Against Closing Costs, Upgrades or Initial Rent • Program Limit • First 50 qualified single family detached homes: $2,000 per home • First 100 qualified single family attached homes: $1,000 per unit • First 100 qualified apartments: $ 500 per unit Agreement Eligibility Process Results

  3. Eligibility Fallsgrove Residents Must be Employed within the LNYW Boundaries Agreement Eligibility Process Results

  4. Process • Applicants Submit to City of Rockville: • Copy of Rent Agreement or House Settlement Papers • Employment Information to City of Rockville • City of Rockville Staff Call Employers to Verify • Fallsgrove Associates Receive Credits from City of Rockville • City Applies Credits to Fallsgrove Transportation Demand Management Fees • Credits = Financial Incentive for Homebuyers, Renters, and Developers to Apply for and Promote LNYW Agreement Eligibility Process Results

  5. Results: Actual vs. Approved Agreement Eligibility Process Results

  6. Discussion

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