In 2016 and 2017, SVCF is completing a comprehensive grantmaking review process to determine our new grantmaking strategies. As part of that effort, we are publishing a series of impact reports. This is an excerpt from the report about building strong communities.
The region’s public transit agencies have an extensive portfolio of real estate assets. Over the past two years, a number of SVCF’s partners, including Working Partnerships USA, Silicon Valley @Home, and Silicon Valley Leadership Group Foundation, have been working hard to promote and advance policies to support affordable housing development on transit-agency-owned land.
In April 2016, the Santa Clara County Valley Transportation Authority Board unanimously voted to adopt one of the strongest affordable housing policies of any transit agency in the country. The policy includes a requirement that 35 percent of all housing units built on VTA land must be affordable to low-income residents, and 20 percent of units in individual projects must be designated as affordable units. Of the affordable units, 50 percent must be targeted to very low- or extremely low income residents.
SVCF’s partners have also achieved success with a similar policy requiring that developments include 20 percent affordable units for low- and very-low income households near each station on BART owned land. This policy will be a precedent for other transit agencies in California that hope to increase ridership on public transit systems by developing more affordable housing along transit corridors.
Learn more about the impact SVCF has had through our grantmaking strategy for building strong communities.