Presentation on theme: "City of Rockville Live Near Your Work Program at Fallsgrove Katherine Kelly, Transportation Planner Wednesday, May 9, 2007."— Presentation transcript:
City of Rockville Live Near Your Work Program at Fallsgrove Katherine Kelly, Transportation Planner Wednesday, May 9, 2007
Live Near Your Work Development Agreement Home Purchasers or Apartment Renters in Fallsgrove Developer Provides Credit to be Used Against Closing Costs, Upgrades or Initial Rent Program Limit 1.First 50 qualified single family detached homes: $2,000 per home 2.First 100 qualified single family attached homes: $1,000 per unit 3.First 100 qualified apartments: $ 500 per unit Agreement Eligibility Process Results
Live Near Your Work Eligibility Agreement Eligibility Process Results Fallsgrove Residents Must be Employed within the LNYW Boundaries
Live Near Your Work Process 1.Applicants Submit to City of Rockville: Copy of Rent Agreement or House Settlement Papers Employment Information to City of Rockville 2.City of Rockville Staff Call Employers to Verify 3.Fallsgrove Associates Receive Credits from City of Rockville 4.City Applies Credits to Fallsgrove Transportation Demand Management Fees 5.Credits = Financial Incentive for Homebuyers, Renters, and Developers to Apply for and Promote LNYW Agreement Eligibility Process Results
Live Near Your Work Results: Actual vs. Approved Unit Type Credit per Unit No. of Approved Units Total Credits Apartment $500 Max.100$50,000 Actual17$8,500 Single Family Attached $1,000 Max.100$100,000 Actual12$12,000 Single Family Detached $2,000 Max.50$100,000 Actual1$2,000 TOTAL Max.$250,000 Actual$22,500 Agreement Eligibility Process Results
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