Eric Jay Toll | Arizona Builder’s Exchange

Developers planning innovative transit-oriented projects in Phoenix may find the city ready to offset some of the predevelopment costs with a competitive grant program. The matching grants for TOD projects will come from a $2.9M U.S. Housing and Urban Development grant. Tomorrow, the city council considers slicing off $500K from those funds for the TOD grants.

City officials say the proposed predevelopment assistance grants will match developer funds to cover costs associated with multifamily, commercial, mixed and nonprofit uses. The purpose is to help offset some of the upfront expenses associated with creating TODs. The grants are restricted to areas of the city identified in theTransit-Oriented Development Strategic Policy Framework adopted one year ago by the council.

The Planning and Development Department will issue a Request for Proposal looking for qualifying projects. It has established a competitive point scale which will guide staff in selecting qualifying projects. If the council approves the request tomorrow night, staff will issue the RFP this month with a 60-day submission window. {….}