T.F. Green Airport Improvement Program - FEIS Chapters - PVD

T.F. Green Airport Improvement ProgramEnvironmental Impact Statement and Final Section 4(f) EvaluationThe affordable rents and house price points, as defined by the State, were then compared to the estimated rentsand market price of the residential properties to be acquired (mandatory and voluntary). Single-family homes ofunder 1,200 square feet were assumed to be two-bedroom properties; homes over 1,200 square feet wereassumed to be three-bedroom properties. Interviews with property management agents (or tenants, in caseproperty management agents were unavailable) were used to gather information on rents for larger propertiesof more than five units. Properties with rents or market values at or below the affordable level are referred to inthis document as “affordable” housing. The market sales price of homes to be acquired was assumed to be100 percent of the sum of the 2010 assessed land and building value. Refer to Appendix G.2, Affordable HousingAnalysis for further detail on methodology and assumptions used in the affordable housing analysis.5.5.6.2 Affordable Housing Impact AssessmentThis section presents the direct and indirect affordable housing impacts related to the Current Part 150 VLAPunder the No-Action Alternative, which is scheduled to be complete in 2015 as a continuation of RIAC’sPart 150 NCP.No-Action AlternativeOf the 135 units total to be acquired as part of the Current Part 150 VLAP, 134 units, or 99 percent, areconsidered affordable housing units where 108 units are affordable single-family units and 26 units areaffordable multi-family units. No subsidized low- and moderate- income housing units would be acquiredunder the No-Action Alternative. Approximately $15.2 million in estimated subsidies would be needed toreplace the units lost with new housing units serving the same price point.Alternative B2Of the 237 total housing units to be acquired under Alternative B2, 235 units total (131 single-family and104 multi-family) are affordable representing 99 percent of all residential acquisitions for Alternative B2(Table G.2-4 of Appendix G.2, Affordable Housing Analysis). The Four Seasons Apartments (totaling 84 one- tothree-bedroom units), 12 units at 45 Alabama Avenue, and eight units in two- to five- family structurescomprise the 104 affordable multi-family units to be acquired, which are located north of the Airport. Nosubsidized low- and moderate-income housing units would be acquired under Alternative B2.Alternative B4Of the 140 total units to be acquired under Alternative B4, 135 units total, or 96 percent (131 single-family andfour multi-family), are considered affordable (Table G.2-5 of Appendix G.2, Affordable Housing Analysis). Units intwo- to five- family structures located south of the Airport comprise the four affordable multi-family units to beacquired. No subsidized low- and moderate-income housing units would be acquired under Alternative B4.5.5.6.3 Cumulative Impacts to Housing AffordabilityCumulatively, since the initiation of RIAC’s Part 150 VLAP, a total of 652 residential units would be acquired by2025 as part of Alternative B2. Under the Completed Part 150 VLAP as of 2009, a total of 280 units have beenacquired. In addition, as part of the Current Part 150 VLAP up to 135 units would be acquired and underAlternative B2 a total of 237 units would be acquired for construction, noise mitigation, and FAA-recommendedRPZ clearing. Based on the high percentage, 99 percent, of the number of affordable housing units acquired forChapter 5 - Environmental Consequences 5-116 July 2011\\mawatr\ev\09228.00\reports\FEIS_Final_July_2011\PVD_CH05_Environmental_Cons_JUL_2011.doc