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Page 3 <br /> <br />. Transit Oriented Development (TOD) Project Areas, <br />. Integrated Connectivity Project (ICP) Project Areas, or <br />. Rural Innovation Project Areas (RIPA). <br />A project area must be established to create funding eligibility. TOD areas must contain a transit <br />facility, and individual projects must be within ½ mile of the transit stop. <br />The maximum AHSC Program loan or grant award, or combination thereof, for a TOD, ICP or <br />RIPA Project Area is $20 million with a minimum award of at least $1 million for TOD Project <br />Areas and at least $500,000 for ICP and RIPA Project Areas. Funds may be used for hard and <br />soft costs. Funds may be received in the form of either a loan or a grant: <br />· Loans - AHSC Program funds will be provided as a loan for permanent financing by <br />HCD. The base loan amount shall be calculated based on the number of Restricted Units <br />in the Affordable Housing Development, affordability, unit sizes, and location <br /> <br />· Grants – The total Housing-Related Infrastructure Capital Project grant amount is $35,000 <br />per residential unit in the proposed Affordable Housing Development, and $50,000 per <br />Restricted Unit as defined in the Guidelines. <br />Funds are allocated to the program annually through the state budget process. Funding for <br />individual projects is competitive. Points are awarded in the competitive process based on a <br />number of GHG reduction measures that are incorporated into the project. In addition, projects <br />must meet minimum density standards of 30 units per acre for urban sites, and a minimum of <br />20% of the project must be affordable. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />8.A - Page 6