(1) Grant program created. The transit-oriented communities infrastructure grant program is created in the department. The purpose of the grant program is to assist local governments in upgrading infrastructure and supporting regulated affordable housing in transit centers and neighborhood centers. (2) Allowable purposes. Grant recipients may use money received through the grant program to fund: (a) On-site infrastructure for affordable housing, including regulated affordable housing, within a transit center or neighborhood center; (b) Public infrastructure projects that are within, or that primarily benefit, a transit center or neighborhood center; (c) Public infrastructure projects that benefit affordable housing, including regulated affordable housing, in a transit center or neighborhood center; (d) Activities related to determining where and how best to improve infrastructure to support a transit center or neighborhood center; (e) Infrastructure project delivery, planning, and community engagement; and (f) Activities contracted by an area agency on aging, as defined in section 26-11-201 (2), to a transit-oriented community to provide services within, or that benefit, transit centers and neighborhood centers, and that further the goals of this part 2. (3) Grant program administration. The department shall administer the grant program and, subject to available appropriations, award grants as provided in subsection (7) of this section and provide technical assistance to local governments in complying with the requirements of this part 2. (4) Grant program policies and procedures. The department shall implement the grant program in accordance with this section. The department shall develop policies and procedures as necessary to implement the grant program. (5) Grant application. To receive a grant, a local government must submit an application to the department in accordance with policies and procedures developed by the department. (6) Grant program criteria. The department shall review the applications received pursuant to this section and shall only award grants to certified transit-oriented communities. In awarding grants, the department shall consider the following criteria: (a) The potential impact of a project that a local government would fund with a grant award on the development of regulated affordable housing, mixed-use development, accessible or visitable housing units, or the creation or enhancement of home ownership opportunities within a transit center or neighborhood center. If a project is a large-scale infill development project, subject to a discretionary approval process, and adjacent to an established neighborhood, the department shall give priority to such a project if a community benefits agreement has been established in connection with the project. (b) In response to demonstrated needs, the extent to which the local government has: (I) Integrated mixed-use development by allowing neighborhood commercial uses that have the main purpose of meeting consumer demands for goods and services with an emphasis on serving the surrounding residential neighborhood within one-quarter mile of a transit center or neighborhood center; (II) Adopted affordability strategies from the affordability strategies menus in section 29-35-208 based on the local government's demonstrated housing needs, including housing needs for rental and for-sale housing and for low-, moderate-, and medium-income households, as designated by the United States department of housing and urban development, and permanent supportive housing; (III) Adopted displacement mitigation strategies from the displacement mitigation strategies menu in section 29-35-209; and (IV) Designated neighborhood centers within optional transit areas; and (c) Information contained in the reports submitted by a local government pursuant to section 29-35-204 that provides evidence that the local government has met the requirements of section 29-35-204. (7) Grant awards. Subject to available appropriations, the department shall award grants using money in the fund as provided in this section. (8) Transit-oriented communities infrastructure fund. (a) (I) The transit-oriented communities infrastructure fund is created in the state treasury. The fund consists of money transferred to the fund pursuant to subsection (8)(a)(III) of this section, gifts, grants, and donations, and any other money that the general assembly may appropriate or transfer to the fund. The state treasurer shall credit all interest and income derived from the deposit and investment of money in the fund to the fund. (II) Money in the fund is continuously appropriated to the department for the purpose of implementing the grant program, and the department may expend up to six percent of any money in the fund for costs incurred by the department in administering the grant program. (III) On July 1, 2024, the state treasurer shall transfer thirty-five million dollars from the general fund to the fund. (9) Reporting. (a) On or before January 1, 2025, and each January 1 thereafter for the duration of the grant program, the department shall submit a summarized report to the house of representatives transportation, housing, and local government committee and the senate local government and housing committee, or their successor committees, on relevant information regarding the grant program. (b) Notwithstanding section 24-1-136 (11)(a)(I), the reporting requirements set forth in this section continue until all grant program money is fully expended. (10) Definitions. As used in this section, unless the context otherwise requires: (a) "Fund" means the transit-oriented communities infrastructure fund created in subsection (8)(a) of this section. (b) "Grant program" means the transit-oriented communities infrastructure grant program created in this section.
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