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104 <br />WDc'|8s8FWD'UermfHousing <br />|n8nenvironment ofinadequate financial resources <br />to meet the need for affordable housing <br />development, the Council seeks toinvest its finite <br />financial resources for rnaxirnurn impact. For the <br />Council, justlike other public entities, ensuring that <br />resources not only align with desirable planning <br />outcomes but deliver bigger "bang for the buck" <br />iaessential, aademand for resources inhousing <br />vastly outpaces supply. <br />The Livable Communities Act <br />Enacted in1995.the Livable Communities Act <br />(-CA) aims to stimulate housing and economic <br />development inthe seven -county region. <br />The LCAauthorizes the Council to: <br />KEY TA <br />TheCouncil will use its <br />resources —including Livable <br />Communities Act grants, <br />investments in infrastructure, <br />and other funding streams —to <br />expand housing choices <br />across the region and create <br />and preserve mixed -income <br />neighborhoods and <br />communities. <br />* Levy taxes tocreate affordable housing; <br />* Promote redevelopment through environmental clean-up efforts; <br />* Develop neighborhoods that are pedestrian- and tranait-friend|y;and <br />p Invest in innovative strategies to lower construction costs and reward communities that <br />actively try to meet "fair share" affordable housing goals. <br />Four distinct accounts exist in the Metropolitan Livable Communities Fund: <br />* Tax Base Revitalization Account (TBR/Afunds the cleanup ofpolluted land. <br />* Livable Communities Demonstration Account (LCDA) funds development and <br />redevelopment projects thatoonneothouaing. jobs,and services and that maximize the <br />development potential of existing or planned infrastructure. <br />p L0C8| Housing Incentives Account (LH|/Afunds the expansion and preservation of <br />affordable rental and ownership housing to help municipalities meet their negotiated Goal. <br />p Inclusionary Housing Account (IHA) funds new housing construction with a variety of <br />prices and designs to serve families with a range of incomes and housing needs. <br />Since the inception of the program, the LCA accounts have helped fund the construction <br />and rehabilitation of over 40,000 housing units, of which nearly half are affordable. <br />LCAgrants are available t0participating cities and townships 0rt0metropolitan counties <br />and development authorities (e.g., Housing and Redevelopment Authority, Economic <br />Development Authority, or Port Authority) 10fund projects in participating municipalities. <br />Grant applications are scored on the basis of how the proposed development or <br />redevelopment project rneetatheaooringCriteriaou1|inedintheCounoi|\aAnnua|Fund <br />Three: Council Policies and Roles toExpand Viable Housing Options <br />