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ON Enclosure E The Livable Communities Act (LCA) The Minnesota Legislature created the Livable Communities Act (LCA) in 1995. The LCA is a voluntary, incentive -based approach to address the Metropolitan Area's affordable and lifecycle housing needs while providing funds to communities to assist them in carrying out their development plans. LCA funds have leveraged millions of additional dollars in private and public investment that has provided new jobs, housing choices, and business growth. The Legislature established the Metropolitan Livable Communities Fund, including three on-going accounts from which eligible communities could apply for funding: The Tax Base Revitalization Account (TBRA) helps cities clean up contaminated urban land and buildings for subsequent redevelopment that could include commercial, industrial, or housing opportunities. Supporting redevelopment opportunities that restore the tax base, create or retain jobs, or add affordable housing to the region are the primary objectives of this account. Projects funded through the TBRA foster increased reinvestment and infill near existing housing and services and help clean up the environment and protect water quality in the region's urban communities. From 1996 through 2009, $69.3 million in Tax Base Revitalization Account grants (238 grants in 38 communities) have assisted projects which are expected to: • Leverage $3.68 billion in private investment • Increase annual net tax capacity by $62.5 million • Create or retain over 31,000 jobs • Redevelop over 1,600 acres of former brownfields The Livable Communities Demonstration Account (LCDA) funds public infrastructure and land assembly for development and redevelopment projects that achieve connected development patterns that link housing, jobs and services, maximize the development potential of existing or planned infrastructure and regional facilities, and expand affordable and life -cycle housing options in the region. LCDA awards have been used to revitalize communities and establish new neighborhoods as places for living, working, meeting daily shopping needs and recreation. The LCDA program is a popular funding source to help achieve regional and local community development objectives in the region's communities. Funded project elements have included land acquisition, street infrastructure, pedestrian connections, stormwater management infrastructure, and public -use structured parking to support additional density. LCDA funding is a catalyst that enables cities and developers to implement replicable models that expand development options in the market. From 1996 through 2009, $81.8 million in Demonstration Account funds (155 grants to 49 communities and three multi -city coalitions) have assisted projects which are expected to: • Leverage nearly $2.95 billion in private development investment • Leverage over $1.1 billion in other public investment • Provide over 21,500 new housing units • Rehabilitate over 600 housing units - single-family houses, townhouses, condominiums, rental apartments for families and seniors, and live -work housing • Offer replicable examples of: The Livable Communities Act