1 COMPARATIVE ANALYSIS OF RESIDENTIAL ANTI-DISPLACEMENT STRATEGIES FOR LIGHT RAIL TRANSIT AND SPORTS STADIUM INFRASTRUCTURE INVESTMENTS Aaron Keniski Submitted under the supervision of Jeffrey Crump to the University Honors Program at the University of Minnesota-Twin Cities in partial fulfillment of the requirements for the degree of Bachelor of Arts summa cum laude in Urban Studies. January 25, 2013 2 COMPARATIVE ANALYSIS OF RESIDENTIAL ANTI-DISPLACEMENT STRATEGIES FOR LIGHT RAIL TRANSIT AND SPORTS STADIUM INFRASTRUCTURE INVESTMENTS Abstract City leaders work to revitalize declining communities by building new infrastructure, including sports stadiums and transit infrastructure, to stimulate economic development, as well as strengthen a city’s tax base. At the same time, current low-income residents can face greater displacement pressures through increasing property values and rents. The purpose of this paper is to compare residential anti- displacement strategies utilized by two infrastructure projects, the Central Corridor LRT in Minneapolis- St. Paul and the Miami Marlins Park in East Little Havana, to analyze how similar strategies incentivizing new affordable housing development can be utilized for two different types of infrastructure investments. To complete this comparative analysis, local newspaper and government documents were examined to gather information on recent affordable housing projects in Little Havana, as well as public funding sources for affordable housing in Miami. This information was supplemented by e-mail correspondences with Miami-based developers to gain specific information on the financing and affordability of recent projects in Little Havana, as well as with employees of the Miami planning and economic development departments regarding the stadium’s impact on the neighborhood. This empirical data was then compared to data already gathered for an earlier Central Corridor LRT case study. This paper found that several strategies utilized in the Twin Cities, especially for new funding sources, could be implemented in Miami to better incentivize and target new affordable housing development in closer proximity to the Marlins Park. This could better protect low-income residents from displacement pressures by providing them future affordable housing options. More importantly, this could help spur future development by providing new investment around the stadium that could strengthen market confidence and catalyze private investment. Better overall planning is needed in the future to develop a more comprehensive redevelopment plan for the stadium area, as well as the Little Havana neighborhood, to help support the development of an entertainment district around the stadium. 3 Introduction Neighborhood revitalization comes with both benefits and consequences. The goal and ultimate benefit of sports stadiums and transit infrastructure is to stimulate economic development that will help improve both the immediate neighborhood, as well as the city. This occurs by reinvesting in a declining community by providing an amenity which will help make the area more attractive to a wider range of residents, including those with higher incomes. Through this new amenity, other economic development generated, and greater demand for the area from higher-income residents, property values and rents increase which grows the city’s tax base. This benefit, however, creates an unintended consequence that is difficult to confront. As property values and rents increase, the cost of living in a neighborhood also increases. Homeowners will have higher property taxes, while higher rents mean that renters must spend a larger proportion of their income on housing. In most declining communities, where household incomes tend to be relatively low, this means that low-income renters’ and homeowners’ housing costs can increase so much that they will ultimately be unable to afford to live in their community anymore. Because of these reasons, it is important to address the issue of residential displacement with appropriate policy decisions to protect against it. Only through this, can current and future low-income residents benefit from an infrastructure project whose ultimate goal is to improve their current community. The Minneapolis-St. Paul Central Corridor LRT and Miami Marlins Park are two different types of infrastructure projects that can demonstrate how different cities are currently approaching this issue through strategies incentivizing new affordable housing production. 4 Literature Review Declining urban areas during the second half of the 20 th century have caused cities to seek ways to promote revitalization and economic development. To do this, they have focused on attracting “tax-paying, culture-loving, free-spending middle class residents,” through the development of housing, offices, hotels, and sports stadiums (Frieden et al. 1989). Historically, sports stadiums have been supported by the potential to provide economic benefits to the local community, such as job creation and spurring economic development, as well as improving the way in which a community views itself, what Delaney calls “community collective conscience” (2003). Urban stadium locations can promote fans to patronize more businesses, such as other stores, restaurants, and hotels, generating greater economic benefits (Nelson 2001). In contrast to the potential benefits of sports stadiums, these investments can contribute to gentrification through the revitalization of a declining area. Gentrification can be described as a neighborhood change process characterized by increasing property values and incomes in a former low-income community (Pollack et al. 2010). It can occur either through changing locational preferences, which can spur an increase in the value that middle- and upper-income households place on the land and amenities in a poor neighborhood, or as a side effect of changes in resident household incomes. As a result, gentrification can sometimes be a naturally-occurring phenomenon resulting from larger societal trends, such as the creation of better economic opportunities through technological advances (Vigdor et al. 2002). However, when city leaders support the construction of a major infrastructure project in a declining community, they are consciously attempting to influence the locational preferences of city residents. In this way, cities often view gentrification as an economic benefit through the 5 potential for an increased tax base and the promotion of new economic development serving middle- and upper-income residents. At the same time, certain factors, including an impaired supply of land and property acceptable for gentrification, community resistance, and city policies protecting against its effects can limit the impacts of gentrification (Ley et al. 2008). Whether or not there are city policies in place to control gentrification’s effects, however, there is often upward pressure put on property values and rents as a neighborhood becomes more attractive to city residents. Due to this, gentrification can displace current low-income residents who may not be able to afford higher rents or property taxes, or increase their household financial burden. Evidence indicates that both transit and sports stadium investments can cause property values to increase. Transit premium increases for single-family homes have ranged from 2% in San Diego to 32% in Saint Louis, while for apartments they have ranged from 4% in San Diego to 45% in Virginia (National Association of Realtors). Tu (2005) and Feng (2008) found that professional sports stadiums had a positive effect on surrounding home values in both Maryland and Ohio that increased as the distance from the stadium decreased. As a result of this effect, in Washington D.C. it was estimated that 8,167 minority residents would be displaced from the surrounding neighborhood by the construction of the Nationals Park (Lewandowski et al. 2007). Sports stadiums can also displace residents through the use of eminent domain to demolish residential homes. This has become less common in recent years with pushback from local residents, but it can become an issue when sports stadiums are built in densely-populated urban neighborhoods. Despite the benefits promised by sports stadium proponents, many economists have found that sports stadiums have no consistent positive impact on jobs, incomes, and tax revenue (Coates et al. 2008). However, some sports stadiums have proven to be main catalysts for 6 redevelopment. In San Diego, the Ballpark District redevelopment project helped generate $1.79 billion worth of new residential, hotel, and commercial development five years after Petco Park’s opening (Convention, Sports, and Leisure 2010). What helped make this a reality was significant prior planning for redevelopment. Focusing on only a sports stadium, without planning for larger redevelopment, avoids finding comprehensive solutions to the greater issues a community faces. By mitigating potential displacement effects through maintaining surrounding affordable housing options, sports stadium investments can be more successful at revitalizing a neighborhood by allowing more low-income residents to remain in their community and benefit from its improvement. Topic Background Historically, Little Havana has been a gateway neighborhood for many Hispanic immigrants coming to the U.S. Its very name comes from the large concentration of Cuban immigrants that arrived in Miami in several waves during the second half of the 20 th century (Bryan 2012). In recent years, the high concentration of Hispanic residents has remained, but its composition is shifting from Cuban to Central American immigrants ("City of Miami Consolidated Plan, Fiscal Years 2009-2013" 2009). The neighborhood is also home to many elderly residents, who benefit from proximity to the health district to the west (Wohl 2013). Median household income in Little Havana is $14,910 with 40% of its residents earning less than $12,000 a year (2009). At the same time, 43% of working households spend more than 50% of their income on housing in Miami, making it the least affordable metro area in the U.S. (Williams 2012). Due to its proximity to downtown Miami (refer to appendix A) and its high percentage of renters and low-income minority residents, Little Havana is susceptible to gentrification and residential displacement. 7 Little Havana has also suffered from economic decline over the years. The most significant response from city leaders to this has been the construction of the Miami Marlins Park, on the site of the former Miami Orange Bowl. This decision was driven by the threat of the Marlins baseball team moving to a different city if there wasn’t a new stadium constructed. To get approval for the stadium, which was successful in 2009, Marlins ownership lobbied commissioners and supported them for reelection (Rabin 2012). The $639 million stadium is being financed by three entities; Miami-Dade County, the city of Miami, and the Miami Marlins, with 80% of the stadium cost being subsidized by public funding ("Miami City Commission approves Marlins ballpark" 2009). City leaders are hoping that the new Miami Marlins Park, completed in 2012, will create an entertainment district in Little Havana, which will help generate new economic development and attract investment back into the community. The stadium site is located along NW 7 th St and NW 17 th Ave (refer to appendix B), two main roads in Little Havana. Around the stadium there are four structured parking garages with a total of 33,618 square feet of retail area among five spaces. These retail spaces are what city leaders hope will spur a future entertainment district around the stadium. Several of these parking garages also have space for future residential buffer buildings, that are currently believed could contain future affordable housing. Findings Throughout the city of Miami, there are a number of funding sources utilized for affordable housing development (refer to appendix C). Miami’s Department of Community Development has designated Neighborhood Development Zones (NDZs) and Model Blocks throughout Miami (refer to appendix D), including in East Little Havana, as target areas for city- wide funding programs. While funds are concentrated in both areas, priority is given to Model 8 Blocks, which are smaller areas within an NDZ. In these areas, the city carries out its Affordable Housing Incentive Plan by providing expedited permitting, ongoing review process, impact fee deferral, and a reduction of parking and setback requirements to developers (“Annual Action Plan FY 2009-2010” 2009). In this way, on a city-wide basis affordable housing funding and development is being targeted in certain parts of East Little Havana. At the same time, there are programs targeting funding exclusively within the boundaries of certain neighborhoods in the city. Tax-Increment Financing (TIF), which uses increased property tax revenue from new real estate development to finance development costs, is utilized within the boundaries of a Community Redevelopment Agency (CRA), which carries out activities such as revitalizing dilapidated buildings and improving public infrastructure in the neighborhoods in which they operate. Currently, there are two CRAs in Miami (refer to appendix E) located to the northeast of Little Havana; one includes the Midtown and Omni neighborhoods; the other includes the Southeast Overtown and Park West neighborhoods (Roth 2012). Despite various city-wide funding programs targeted in the East Little Havana NDZ (refer to appendix F), there are no programs specifically targeting funds to incentivize development around the Marlins Park. Due to this, several affordable housing projects have been constructed elsewhere throughout Little Havana in the past several years (refer to appendix G). The most utilized city-wide funding programs for these projects were the HOME, NSP, and CDBG programs. Other sources included HUD’s Section 202 for elderly housing and Low- Income Housing Tax Credits, along with funds from the Florida Housing Finance Corporation (refer to appendix H). During the same time period, the only new market-rate development, Stadium Tower, was developed close to the stadium to benefit from its proximity. This was one 9 of the few new residential projects built within short walking distance of the Marlins Park (refer to appendix G). Outside of Little Havana, there appears to be more affordable housing development occurring. Unlike Little Havana, other Miami neighborhoods have much more available land for redevelopment (Duran 2013). In District Five (refer to appendix I), twenty-six affordable housing projects receiving public funding from the city were completed or under construction between 2009 and 2012. Out of these, six projects with 357 affordable units that were completed or under construction were located within CRA neighborhoods ("Affordable Rental Projects for Income Eligible Persons/Families" 2012). At the same time that no actions have been taken to better target funds and incentivize new affordable housing development closer to the Marlins Park in East Little Havana, there has also been a lack of planning to create a comprehensive redevelopment strategy for the stadium area, as well as the neighborhood. Unlike in other parts of the country, where planning prior to stadium construction has led to effective revitalization of a declining community, Miami has yet to undertake such a process even though the new stadium was approved in 2009. Despite this, the city’s planning department will soon begin a public planning process to address future redevelopment around the stadium (Gonzalez 2012). Analysis Affordable Housing Funding Programs As stated earlier, there are no funding programs incentivizing affordable housing development exclusively around the Marlins Park in East Little Havana. In contrast to this, in Minneapolis-St. Paul, the Metropolitan Council’s new Transit-Oriented Development (TOD) grant program has helped incentivize affordable housing development by increasing the 10 economic feasibility of projects located on sites along the Central Corridor. In addition, the Land Acquisition for Affordable Housing (LAAND) Program and newly created Twin Cities Community Land Bank have assisted with the acquisition of key sites for future affordable housing along the corridor. This has led to the planning of several mixed-income developments that will provide future affordable housing along the Central Corridor LRT (Keniski 2012). In Miami, with city-wide funding targeted within the East Little Havana NDZ, recent affordable housing projects have been concentrated along major corridors instead of close to the Marlins Park (refer to appendix G). The location of affordable housing appears to be more related to transit access and other amenities, instead of proximity to the stadium; only three recent projects are located within four blocks. The Marlins Park is located along NW 7 th St and NW 17 th Ave, two main roads in Little Havana where revitalization has the potential to occur (Gonzalez 2012). A lack of development along these corridors may reflect factors such as a lack of available land, difficult site assembly and acquisition, increasing land values, or demographic influences on site selection. In contrast, the site of the only recent market-rate development in Little Havana, Stadium Tower, is located within a block and a half of the Marlins Park and was selected specifically for its proximity to the stadium. There could be a lack of effort or inability to better target funding and new affordable housing development within the East Little Havana NDZ (refer to appendix F) closer to the Marlins Park. In the city of St. Paul, there are designated Invest St. Paul Priority Areas, similar to Neighborhood Development Zones in Miami, that receive extra city-wide funding to maintain and develop affordable housing. One of these priority areas is located along the Central Corridor. Combined with the resources already targeted in this area, the LAAND and TOD grant programs have been targeted here as well to better incentivize affordable housing development 11 along the Central Corridor to catalyze future development (Keniski 2012). In Miami, targeting additional funding for affordable housing around the Marlins Park could have a greater impact by leveraging other funding sources and enhancing the stadium area’s ability to spur economic development, while also protecting low-income residents from faster increasing rents closer to the stadium. At the same time, in the Overtown, Midtown, and Omni neighborhoods there are active CRAs supported by TIF funding for larger redevelopment activities, specifically within each neighborhood. Despite this designation, these funds have been mainly utilized for the rehabilitation of existing affordable housing (Gonzalez 2012). Because of this, there appears to be no net increase of affordable housing construction in CRA neighborhoods; between 2009 and 2012 there were 408 affordable units constructed in East Little Havana with no CRA, while only 357 affordable units were constructed in CRA neighborhoods ("Affordable Rental Projects for Income Eligible Persons/Families" 2012). Despite this limitation, CRAs do promote more comprehensive redevelopment that can better improve a community. For example, the Omni CRA spent $5 million for drainage and road improvements, while the Overtown CRA provided $2.2 million in residential rehabilitation grants (Roth 2012). Housing Affordability Rents in Stadium Tower, one of the few recent developments within close walking distance of the Marlins Park, are much higher than those in surrounding affordable housing projects. These rents range from around $1,200 to almost $1,800 a month and are located in a neighborhood where the median monthly income was $1,243 in 2009. At the same time, the median rent is $1,200 in Little Havana. In order for rent to be affordable for residents, or equal no more than 30% of median monthly household income, rent would need to be $373 a month 12 ("City of Miami Consolidated Plan, Fiscal Years 2009-2013" 2009). In comparison, Stadium Tower rents range from $800 to $1,400 more than this affordable baseline. Because of this, there is a large discrepancy between rents in new market-rate development around the Marlins Park and true affordable rents for neighborhood residents. In contrast to the rents in Stadium Tower, rents in recent affordable housing projects in Little Havana are much more affordable. The U.S. Department of Housing and Urban Development (HUD) annually calculates the average median income (AMI) for a family of four on a metropolitan statistical area (MSA) level. For the Miami-Miami Beach-Kendall, FL MSA, the metro AMI was $52,600 in 2012 ("FY 2012 HUD Income Limits Briefing Material" 2011). Income and rent limits are then determined by household- and bedroom-size for different affordability levels (refer to appendix I). These limits vary by funding program, as well as by year, which can make determining affordability complex. Rents in recent affordable projects in East Little Havana range from $390 to $1,318, depending on the bedroom size and affordability level (refer to appendix J). These rents still fall short of the true affordable baseline determined by Miami’s Department of Community Development, but are still more affordable than rents in Stadium Tower. A similar trend was found in Minneapolis-St. Paul. Due to the very low income of residents, affordable rents are much higher than what true affordable rents would be. At the same time, however, median rents are much higher in Little Havana at $1,200 a month than in neighborhoods along the Central Corridor which range from $650 to $712. Due of this, almost all affordable rents in Little Havana are more affordable than current median rents, which was not true for the majority of new affordable units in the Twin Cities (Keniski 2012). As a result, current and future affordable housing throughout Little Havana will be more affordable for 13 current and future low-income residents in the stadium area, limiting financial burden and increasing affordable housing options for low-income residents. At the same time, a recent market trend has impacted rents and income diversity in the stadium area. With the real estate boom, many developments were built or rehabilitated in the area, which created higher vacancy during the market decline that was filled by young professionals with higher incomes (Duran 2013). This has caused rents to increase as a result. The Marlins Park could quicken this trend if the area becomes more attractive to newcomers and economic development surrounding the stadium occurs in the future. Especially closer to the stadium, where rents could increase quicker, there is a need to better incentivize new affordable housing development. Even if the stadium does not impact rents much, the possibility of naturally-occurring gentrification in Little Havana poses a threat to current low-income residents. Although current new development is limited around the Marlins Park, Stadium Tower shows how the stadium area could redevelop. While the city works to promote greater income diversity, allowing a greater number of high-end market-rate developments without other housing options could be detrimental to Little Havana. Combined with the high cost of living in Miami, residents would have a very difficult time finding an affordable place to live if displaced. In San Diego, for example, revitalization of the ballpark district included 3,585 mostly high-end residential units (Convention, Sports, and Leisure 2010). It is uncertain whether or not this will happen in East Little Havana around the stadium; relatively cheap rents don’t support market- rate developments very well (Wohl 2013), but with higher-income residents moving into the neighborhood, market-rate development could become more attractive in the future. In addition, occupancy at Stadium Tower has been very successful, indicating that other market-rate development could be equally successful close to the Marlins Park (Zovluck 2013). 14 Recommendations for Future Stadium Area Planning Planning for redevelopment surrounding the Marlins Park to support a future entertainment district faces the challenge of a lack of available land to develop. In San Diego, the Ballpark Redevelopment district consisted of underutilized warehouses and surface parking lots (Convention, Sports, and Leisure 2010). Along the Central Corridor in Minneapolis-St. Paul, there is a large supply of vacant or underutilized sites (Keniski 2012). The Marlins Park area consists of an already dense residential neighborhood. For some developers, this makes the rehabilitation of existing housing more attractive, as there is a large supply of older multi-family properties. However, larger developments could better catalyze redevelopment, so caution must be taken when selecting new sites to limit residential displacement, but also capitalize on appropriate sites as they become available. One strategy to help this could be the creation of a funding program to assist the city or a developer with strategic site acquisition to reserve sites for future affordable housing development. In addition to the acquisition of new sites, there is a need to incentivize affordable housing on available sites closer to the stadium. Buffer buildings in the afore-mentioned stadium site plan are being looked at for future affordable housing, but no developer has been found yet. Main corridors, such as NW 17 th St and NW 7 th Ave, have only seen the development of Stadium Tower, but could be target areas for new affordable housing when sites become available. To better attract developers to available sites in these locations, the creation of a new funding program specifically for the stadium area could incentivize housing development by providing financial assistance for pre-development and construction purposes. At the same time, future private sector development around the Marlins Park could be limited by the community’s weaker market strength, given the little amount of new development 15 to date. This calls attention to the need for a more comprehensive redevelopment strategy in Little Havana, through an entity such as a CRA, to build on the momentum of the Marlins Park. The CRA could work on revitalizing existing public infrastructure and housing to make the area more attractive for future development, as well as incorporate an official stadium planning area in which new funding programs could be targeted. Leasing of the “Shops at Marlins Park,” consisting of the retail space in the parking garages surrounding the stadium, has not met expectations to date. One factor affecting this was the low performance of the Miami Marlins’ past season (Pintilie 2013). To combat the effect of the Miami Marlins’ team performance, the city needs to work on incentivizing development that is not as dependent on it. Retailers that provide goods and services relevant to the community could help with leasing available spaces in the “Shops at Marlins Park.” More effective than this would be to incentivize affordable housing development that would be necessary for Little Havana. In Minneapolis-St. Paul, the city of St. Paul has been focusing on utilizing affordable housing development as a tool to catalyze redevelopment within Central Corridor LRT station areas in less attractive market areas (Keniski 2012). With the public sector incentivizing the production of new affordable housing like in Minneapolis-St. Paul, new investment would occur in East Little Havana that could help build market strength and confidence around the Marlins Park for the future. Conclusion The goal of this paper was to determine whether or not similar residential anti- displacement strategies incentivizing new affordable housing development could be used for two different types of infrastructure investments. This was done by analyzing current public funding sources for affordable housing in the City of Miami, as well as funding sources specifically 16 targeting new development close to the Miami Marlins Park in East Little Havana. The impact of these programs was then analyzed by looking at the location and affordability of recent new affordable housing development in Little Havana. Finally, this data was compared with funding sources and anti-displacement strategies used in Minneapolis-St. Paul along the Central Corridor LRT. By comparing the results of affordable housing funding programs in Miami and Minneapolis-St. Paul, this paper found that several general strategies undertaken for the Central Corridor LRT, as well as in other Miami neighborhoods, could be utilized for the Miami Marlins Park. The first strategy would be the creation of new funding programs for affordable housing to target new development specifically around the Marlins Park. These programs could incentivize new development by providing financial assistance with site acquisition or pre-development costs, which would better attract developers to available sites, as well as help secure future sites for affordable housing. This strategy of the public sector leading the private sector would incentive new housing development that could help catalyze future development and make the surrounding stadium area more attractive to private investment. The second strategy would be to create a comprehensive redevelopment strategy for Little Havana. In several other Miami neighborhoods, Community Redevelopment Agencies have helped target revitalization efforts through the utilization of TIF districts to fund the rehabilitation and development of housing and other infrastructure improvements. A CRA could be created in the East Little Havana neighborhood to help improve the neighborhood’s declining public infrastructure to make the area, especially around the stadium, more attractive for economic development. This could also be a mechanism through which to target new program funding around the Marlins Park. 17 The city has taken a large step in revitalizing East Little Havana by constructing the new Marlins Park. However, it alone cannot promote comprehensive redevelopment of the community and is only one component of its revitalization. The entertainment district that the city is hoping for will most likely materialize very slowly if left to develop without the help of the public sector. As planning for redevelopment around the stadium begins in the near future, the strategies noted above could act as primers that could better support the development of an entertainment district. At the same time, affordable housing could be utilized as a key component of redevelopment around the stadium to better protect current and future low-income residents from displacement, by providing them with more affordable housing options. 18 Appendices Appendix A: Map of the City of Miami Appendix B: Site Plan for the Miami Marlins Park 19  Community Development Block Grant Program (CDBG): Annual federal funding allocated to the city of Miami to be used for affordable housing and other services to the most vulnerable residents  Documentary Surtax Program: Levies a surtax on the documents that transfer interest in Florida real property; program revenue is utilized to fund affordable housing  HOME Investment Partnership Program (HOME): Federal block grant program that awards state and local governments with funds designed exclusively to create affordable housing; allocated by Florida Housing Finance Corp. and City of Miami  HUD Section 202: Helps finance the construction, rehabilitation, or acquisition, and provide rent subsidies for supportive housing for very low-income elderly persons  Low-Income Housing Tax Credits (LIHTC): Tax credits are awarded to developers who then sell them to investors to raise equity and reduce developer debt for affordable housing projects; allocated by Florida Housing Finance Corp.  Neighborhood Stabilization Program (NSP) Funds: Provides emergency assistance to state and local governments to acquire and redevelop foreclosed properties; allocated by City of Miami  State Apartment Incentive Loan Program (SAIL): Florida Housing Finance Corp. provides low-interest loans for affordable housing developments  State Housing Initiatives Partnership Program (SHIP): Provides funds directly to local governments to increase affordable housing opportunities (Funding for program ended in 2009)  Tax-Increment Financing (TIF): Uses increased property tax revenue that new real estate development generates to finance development costs Appendix C: City-wide Affordable Housing Funding Programs Appendix D: City of Miami Neighborhood Development Zones 20 Appendix E: Current CRA Boundaries in Miami Appendix F: East Little Havana NDZ and Model Blocks 21 Appendix G: Recent Affordable & Market-Rate Projects in East Little Havana, 2009-2012 Development # of Units Affordability Public Financing Type 1. Camacho Building 24 30% AMI NSP Elderly 2. Camacol Tower 100 85 units at 60% LIHTCs, Florida Housing Elderly AMI, 15 at 33% Loan 3. La Palma 91 50-60% AMI HUD Section 202, HOME Elderly 4. Rio Palma 18 4 units at 50% HOME, Florida Housing Family AMI, 14 at 80% Loan 5. Teatro Marti 27 6 units at 33% HOME Elderly AMI, 21 at 60% 6. Villa Aurora 76 39 units at 30%, HOME, Florida Housing Family/Homeless 37 units at 60% SAIL Loan, LIHTCs 7. Vista 12 72 36 units at CDBG Family 60-80% AMI Appendix H: Details of Recent Affordable Housing Projects in East Little Havana, 2009-2012 22 Appendix I: City of Miami Commission Districts LIHTC Income and Rent Limits for 2012 30% AMI 50%AMI 60% AMI 30% 50% 60% FMR* 1-Person $13,800 $23,000 $27,600 Studio $345 $575 $690 $819 2-Person $15,750 $26,250 $31,500 1-Bedroom $369 $615 $738 $927 3-Person $17,730 $29,550 $35,460 2-Bedroom $443 $738 $886 $1,125 4-Person $19,680 $32,800 $39,360 3-Bedroom $511 $853 $1,023 $1,439 5-Person $21,270 $35,450 $42,540 4-Bedroom $570 $951 $1,141 $1,682 6-Person $22,830 $38,050 $45,660 Other Federal Program (HOME) Income and Rent Limits for 2012 30% 50% 60% 80% 30% 50% 60% 80% FMR* HOME 1-Person $11,040 $18,400 $22,080 $29,440 Studio $276 $460 $552 $736 $819 $780 2-Person $12,630 $21,050 $25,260 $33,680 1-BR $295 $493 $591 $789 $927 $838 3-Person $14,190 $23,650 $28,380 $37,840 2-BR $354 $591 $709 $946 $1,125 $1,007 4-Person $15,780 $26,300 $31,560 $42,080 3-BR $410 $683 $820 $1,094 $1,439 $1,155 5-Person $17,040 $28,400 $34,080 $45,440 4-BR $457 $762 $915 $1,220 $1,682 $1,269 6-Person $18,300 $30,500 $36,600 $48,800 *FMR= Fair Market Rent Appendix J: Income and Rent Limits for Affordable Housing Projects 23 Development Studio 1-bedrooms 2-bedrooms 3-bedrooms Camacol Tower 33% AMI $390 $461 60% AMI $747 $888 Camacho Building 30% AMI $570 La Palma 50-60% AMI $397 Rio Palma 50% AMI $791 80% AMI $973 Teatro Marti 33% AMI $555 60% AMI $605 $949 Villa Aurora 30-60% AMI $637 $661 $780 Vista 12 60-80% AMI $849 $1,026 $1,318 Stadium Tower $1,216 $1,449 $1,795 Appendix K: Rents in Recent Little Havana Affordable Housing Projects 24 BIBLIOGRAPHY Anderson, Genie. 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