Sec. 2703. Affordable housing incentives in capital investment grants
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Section 5309 of title 49, United States Code, is amended— in subsection (g)— in paragraph (2)(B)— in clause
(i)by striking ; and and inserting a semicolon; in clause
(ii)by striking the period and inserting ; and ; and by adding at the end the following: in the case of a new fixed guideway capital project or a core capacity improvement project, allow a weighting five points greater to the economic development subfactor and five points lesser to the lowest scoring subfactor if the applicant demonstrates substantial efforts to preserve or encourage affordable housing near the project by providing documentation of policies that allow by-right multi-family housing, single room occupancy units, or accessory dwelling units, providing local capital sources for transit-oriented development, or demonstrate other methods as determined by the Secretary. ; and in paragraph (3), as amended by this Act, by adding at the end the following: establish a warrant that applies to the economic development project justification criteria, provided that the applicant that requests a warrant under this process has completed and submitted a housing feasibility assessment. ; and in subsection (l)(4)— in subparagraph
(B)by striking ; or and inserting a semicolon; in subparagraph
(C)by striking the period and inserting ; or ; and by adding at the end the following: from grant proceeds distributed under section 103 of the Housing and Community Development Act of 1974 ( 42 U.S.C. 5303 ) or section 201 of the Public Works and Economic Development Act of 1965 ( 42 U.S.C. 3141 ) provided that— such funds are used in conjunction with the planning or development of affordable housing; and such affordable housing is located within one-half of a mile of a new station. .
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