The Brown Ranch Community Development Plan

Designed by the community, for the community.

GLOSSARY

PROJECT ECONOMICS TERMS

Subsidy:

  • A subsidy is a financial benefit provided to an individual or organization to reduce cost for a person or organization. Typically the benefit is provided by a  government organization. Examples of housing subsidies include LIHTC (see below), tax-exempt bonds, government-sponsored infrastructure grants, local  housing funds dedicated to the production of affordable housing, etc.

LIHTC (Low-Income Housing Tax Credit):

  • The Low Income Housing Tax Credit program was created in 1986 and is the largest source of new affordable  housing in the United States. The program is administered by the Internal Revenue Service (IRS). The program provides tax incentives, written into the Internal  Revenue Code, to encourage developers to create affordable housing. These tax credits are provided to each state based on population and are distributed to the state’s  designated tax credit allocating agency. In turn, these agencies distribute the tax credits based on the state’s affordable housing needs with broad outlines of  program (Source: National Housing Law Project).

AMI (Area Median Income):

  • Area Median Income refers to the median income of a specific county. The AMI table established by HUD is used to establish what is affordable for various income levels.

URBAN DESIGN TERMS

Woonerf:

  • Woonerf is Dutch for “living street.” It is a shared-use street that is open for cars to use, but prioritized for pedestrian and bicycle use. A woonerf typically includes  special features to reduce the amount of traffic using it, or to make the traffic go slower. These might include bollards or bulb outs to reduce the entry width into  the space, play features such as basketball hoops, or planting areas creating narrow or circuitous paths for vehicles. Woonerfs often serve as an additional type of  open space for the communities they serve.

INFRASTRUCTURE & SUSTAINABILITY TERMS

PV (Photovoltaic):

  • PV is a term used to describe panels that capture energy from the sun for use in buildings, streetlights, or other building and infrastructure components  requiring power. Energy from PV panels can be fed back into an energy grid, stored in batteries on site, or used in real time as the energy is generated.

Heat Islands:

  • Heat islands are developed areas that experience higher temperatures than outlying areas. Roads and structures absorb and re-emit the sun’s heat  more than natural landscapes such as forests and water bodies. Heat islands contribute to higher daytime temperatures, reduced nighttime cooling, and higher air- pollution levels. Heat islands can be limited by reducing the amount of paved surfaces (especially asphalt), shading surfaces with trees or awnings, and using high- reflectance roofing materials. (Source: EPA)