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Bay Area Rapid Transit’s (BART) board last week amended the agency’s transit-oriented development (TOD) policy to support affordable housing.
The policy amendments allow for a land discount of up to 60 percent from fair market value for projects on BART property with affordable housing.
Projects with a greater share of affordable housing, and serving households with lower incomes, will be eligible for a higher discount, BART officials said in a press release.
The amendment also provides greater clarity about the expected financial return to BART from its developments, officials said.