LOCUS

The latest developments, events, and resources from LOCUS:

House of Representatives considers appropriations bill that would slash funding to housing, transportation programs

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Today the House of Representatives will continue consideration of its Fiscal Year (FY) 2016 Transportation, Housing, and Urban Development (THUD) appropriations bill, which will set funding levels for nearly all federal housing and transportation programs in the coming year.

The House’s current version of the bill would slash funding for many of these programs, including grants and technical assistance programs at the U.S. Department of Transportation (USDOT) and U.S. Department of Housing and Urban Development (HUD). Specifically, the bill:

  • Cuts funding for HUD’s HOME program from $900 million in FY15 to $767 million in FY16. HOME must be fully funded in addition to, not at the expense of, critically needed funding for the NHTF.
  • Cuts funding for HUD’s Choice Neighborhoods program from $90 million in FY15 to $20 million in FY16. Choice Neighborhoods supports struggling neighborhoods and aids in community revitalization.
  • Eliminates HUD’s Office of Economic Resilience, which has helped communities rebuild their economies, create jobs and improve economic development.
  • Cuts $200 million for new transit construction. This comes at a time when public transportation ridership is booming and cities of all sizes are looking to invest in new bus, rail transit, and bikeshare projects to help them stay economically competitive.
  • Slashes funding for USDOT’s TIGER program by 80 percent from last year’s level down to just $100 million. Over the past six years this competitive grant program has proven to be incredibly popular and effective, and its previous funding level was already inadequate to fulfill the huge demand for this program across the country. The program has funded innovative projects in communities of all sizes in all 50 states — and in districts both red and blue.
  • Cuts Amtrak’s budget by $250 million, just a few weeks after the tragic Amtrak derailment in Philadelphia and at a time when ridership is growing fast.

The bill does maintain funding levels for HUD’s Community Development Block Grant program at $3 billion.

Take action

Members of the House will consider this bill later today, so now is the time to voice your support for these important programs. Send a letter to your Representative today >>

These programs help Americans live in safe, affordable homes in convenient neighborhoods with transportation choices. That’s important for families and it’s crucial for our economy. Tell your Representative not to cut these important programs.

LOCUS

2015 LOCUS Leadership Summit provides private sector solutions to the affordability and social equity crisis

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Transportation Secretary Anthony Foxx addresses the audience at the 2015 LOCUS Leadership Summit.

The fourth annual LOCUS Leadership Summit convened earlier this week at the Carnegie Library in Washington, DC, bringing together 130 real estate developers and local elected officials from around the country. Attendees discussed and debated with the brightest minds in real estate, discovering private sector tools and strategies to combat the affordability and social equity crisis.

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Federal Realty Trust and Lucas Thornton recognized with 2015 LOCUS Leadership Awards

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Since 2012, LOCUS has presented the national LOCUS Leadership Awards to developers and investors who have demonstrated exemplary commitment to public leadership, smart growth development, and furthering LOCUS’ mission.

This year, we received a record-breaking number of nominations from all over the country, and our decision was more difficult than ever before. That said, we are pleased to announce the following winners of the 2015 LOCUS Leadership Awards.

LOCUS

Join the 2015 LOCUS Leadership Summit for walking tours that highlight infrastructure in action

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It’s Infrastructure Week here in Washington, and everyone inside the Beltway is talking about the benefits of investments in roads, bridges, and transit. In two weeks, as part of the 2015 LOCUS Leadership Summit, we’ll hold three walking tours that showcase neighborhoods transformed by investments in infrastructure—and you’re invited to join us.

hstreet2 H Street NE
One of the Washington, DC’s most historic neighborhoods, H Street has been home to legendary performance venues such as the Atlas Theatre and the H Street Playhouse. Now the center of a redevelopment renaissance—including construction of a new streetcar line—H Street NE is fighting to maintain affordability for residents both old and new.
brooklnad Brookland
This once-small neighborhood has grown steadily over the last few decades, and more recently boomed with the construction of large mixed-use development project, Monroe Street Market, one of the most prominent examples of transit-oriented development in the DC metro area.
tysons Tysons, VA
Once an “edge city” of primarily office and retail space, Tysons has taken a leap into new residential and commercial markets. The Silver Line, Metro’s most recent addition to its system, has garnered interest in mixed-use development and walkability in Tysons. Explore the newest investments toward this goal, including the Greensboro Park Place.
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Secretary Anthony Foxx to deliver keynote address at 2015 LOCUS Leadership Summit

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Great, walkable neighborhoods are stronger when people of all income levels can afford to live there. Next month, real estate developers from across the country will gather to talk about how they can help make that happen as part of the 2015 LOCUS Leadership Summit.

Transportation is a crucial part of this discussion and no one is more important in this arena than the U.S. Department of Transportation. The good news is that USDOT will join the Summit to speak frankly about how developers and transportation advocates can work together to build walkable, equitable communities.

We are excited to announce that U.S. Transportation Secretary Anthony Foxx will deliver the keynote address at the 2015 LOCUS Leadership Summit. Under Secretary Foxx’s leadership, USDOT is working to make sure transportation investments support working families and America’s broader economy. Foxx’s keynote will provide insights into USDOT’s current programs, its plans for the future, and how real estate developers can be part of the national effort for more equitable, walkable communities. Register today to join the event:

LOCUS

Join us for a live Twitter chat on the future of equitable, walkable development

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Can real estate developers prevent displacement and gentrification? Are there ways to pay for critical infrastructure without burdening taxpayers? How can the public and private sectors better work together to create equitable, walkable development?

We’re currently putting together the agenda for the 2015 LOCUS National Leadership Summit, and we want to hear from you about the topics you are most interested in.

Join us for a live Twitter chat on Thursday, April 16 from 1–2 PM EDT to discuss what should be on the agenda of the 2015 LOCUS Leadership Summit. Tweet your questions at @LOCUSdevelopers, or join the conversation at hashtag #LOCUSsummit.

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Are you having trouble with the new Fannie Mae appraisal process?

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LOCUS is calling on developers across the county to be apart of this discussion to share their experience with the Fannie Mae’s secondary market appraisal guidelines for small multi-family properties. With enough responses, LOCUS will convene a working group charged to develop a list of recommendations to improve Fannie Mae’s appraisal guidelines.

LOCUS

Tell Congress to support transit oriented development

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Communities across the country are eager to build more homes and offices near transit stations. These projects can create walkable neighborhoods, and great returns on public investment, but are often complicated and difficult to finance. 

A new bill in Congress could make financing these projects easier. The Transit Oriented Development Infrastructure Financing Act would add new provision to the Transportation Infrastructure Finance and Innovation Act (TIFIA) to include financing for transit oriented development projects. 

TIFIA already provides loans, not subsidies, to eligible transportation projects. The new provision would go a step further to make loans available for transit oriented development infrastructure projects as well. 

The Senate needs to hear your support for this program. In the coming weeks, Congress will consider whether or not this provision should be included in the next federal transportation bill.

Send a letter to your Senators now >>

Transit oriented development is a fiscally sound way to leverage private sector dollars and create new homes and office space near transit. These projects can revitalize neighborhoods and support broader economic growth, but we need innovative programs like this to make it happen.

As Congress prepares to consider the next federal transportation bill, now is the time to voice your support for development near transit. Send a letter to your Senators today.

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