Affordable Housing Trust Fund Commission August 27, 2019

1. BALTIMORE’S AFFORDABLE HOUSING TRUST FUND Affordable Housing Trust Fund Commission August 27, 2019

2. TOPICS • DHCD Community Development Vision • Roundtable Report Comments • DHCD Recommendations

3. COMMUNITY DEVELOPMENT VISION

4. VISION • Leverage strengths • Build partnerships • Identify new resources • Encourage new approaches to collaborative redevelopment & revitalization • Support development where all residents benefit • Support development that minimizes displacement

5. OBJECTIVES • Create a coordinated development strategy • Make decisions through an equity lens • Encourage mixed-income developments • Preserve existing affordable housing • Support legacy homeowners • Build capacity of local community development corporations • Minimize displacement through long-term affordability

6. ROUNDTABLE REPORT COMMENTS

7. Shared goals • Majority of goals & recommendations are currently DHCD requirements or policy • Broad Goals • Universality • Equity & Participation • Accountability & Transparency

8. BROAD GOALS • Build equity for low-income residents • Invest in redlined & distressed communities • Further environmental sustainability • Support community controlled development • Hold developer & City accountable • Issue 1 or more NOFA’s for a wide use of funds

9. UNIVERSALITY • Environmental Sustainability • Energy Efficient buildings • Does not displace parks/green space • Blight Elimination • Eliminate vacant buildings through deconstruction/rehabilitation • Demolition utilizes lead-safe standards

10. EQUITY & PARTICIPATION • Fair Housing • Focus development in City identified major redevelopment areas • Permanent Affordability • Provide 1:1 replacement for units subsidized through public programs • Building Equity • Provide shared equity for homeownership • Deep Affordability • Substantial units are available for 20-30% of AMI

11. ACCOUNTABILITY & TRANSPARENCY • Monitoring & Compliance • Zoning • Reasonable Developer Fee • Previous Non- Compliance • Develop experience & financial capacity • Sufficient plans & design • Market Study or equivalent • Reasonable Operating/Construction costs • Reasonable acquisition costs • Property Management

12. FURTHER DISCUSSION & ANALYSIS • Employment Goals and how to align with existing laws • Environmental sustainability strategies • Permanent affordability • Shared equity in rental

13. DHCD RECOMMENDATIONS

14. DHCD RECOMMENDATIONS • Create impact & leverage resources • Issue multiple funding requests • Allocate funds to support City-sponsored development initiatives • Support Community Land Trusts

15. DHCD RECOMMENDATIONS • First NOFA provides funding for CLT’s • $1-$1.5 million proposed • Acquisition (non-City owned) • Construction/Stabilization/Demolition • Project Consultants • Rolling submission deadline • Post proposed Funding & Operating Framework for public comment

16. COMMUNITY DEVELOPMENT APPROACH & PRIORITIES

17. COMMUNITY DEVELOPMENT FRAMEWORK • Released in February 2019 • Comprehensive vision to guide neighborhood investment and build partnerships • Strategies • Expand resources for community development • Promote access & equity • Invest in all neighborhoods • https://dhcd.baltimorecity.gov COMMUNITY DEVELOPMENT FRAMEWORK Sed ut perspiciatis unde omnis iste natus error sit volup tatem accus antium dolor emque lauda nt ium, totam rem aperiam, eaque ipsa

18. COMMITMENT TO AFFORDABLE HOUSING • All Baltimoreans deserve quality affordable housing • Affordable housing, including unsubsidized private market rentals, must be inspected and determined to be decent, healthy and safe • Over concentration of households living in poverty can harm families and neighborhoods. Additional production of affordable housing should not lead to further segregation. • Affordable housing development should occur in all neighborhoods. In neighborhoods with high demand, more must be done to produce and preserve high-quality affordable housing. • Neighborhood revitalization efforts must strive to minimize displacement. • A variety of approaches to expand affordable housing should be implemented including vouchers, place-based efforts, community land trusts, for-profits and not-for-profit developers, public housing and both traditional and creative financing. • Sustaining affordable housing includes preserving and creating homeownership opportunities to foster wealth building and sustainable households and neighborhoods. Michael Braverman

19. BUILD MIXED-INCOME COMMUNITIES • Require mixed-income housing in new development • Increase equity for current homeowners • Focus on assets & amenities • Provide opportunities for all stakeholders to participate

20. SUSTAINABLE & HEALTHY COMMUNITIES • Increase open space & tree canopy • Promote green infrastructure • Address food deserts • Enhanced rental housing standards • Fund weatherization, lead paint and repairs for homeowners

21. Thank You. dhcd.baltimorecity.gov @BmoreDhcd Affordable Housing Trust Fund Commission August 27, 2019