This is the first edition in an ongoing series of "Corner Briefings" highlighting urban infill legal tools and opportunities. These updates will identify new legal cases, legislative updates, grant opportunities and other urban infill trends that may be meaningful to you.
This Corner Briefing addresses two funding opportunities:
- Affordable Housing and Sustainable Communities Program (AHSC)
- California Infrastructure Finance and Economic Development Bank (IBank) low-cost loans
Both sources of capital can make a critical funding difference for infill projects.
The AHSC Program is oriented toward infill projects and is funded by cap-and-trade action proceeds. A total of $320 million is available for grant and low-cost loan awards this year. Successful projects will typically include a transit-oriented residential project with an affordability level of 20 percent or more. Grants are also available for projects not served by high-quality transit, provided the funds are used to improve sustainable transportation. Note: The concept proposal due date is March 16.
The IBank loans are available on an ongoing basis and are a great source of low-cost infrastructure financing for street, drainage, parks, water, wastewater and other infrastructure projects.