DRA maintains a growing sustainability practice with its public agency and developer clients and is currently advising on a comprehensive sustainable development agenda for nearly $100 million of affordable housing development. In addition, DRA represents agricultural/industrial users in the installation of very large-scale photovoltaic (PV) solar systems and water conservation systems. Additionally, DRA is tracking best practices developments in sustainable development through land use planning, building code and other local government policies and regulations associated with overall development.
DRA initiated, assembled and moderated the Sustainability and Affordable Housing pre-conference session of the California Redevelopment Association (CRA) and the California Association of Local Housing Finance Agencies’ 2008 Affordable Housing Conference. The panel included profiling rebate and incentive programs for energy conservation measures, utility cost assistance programs for low income households, California legislation on sustainability and reductions in greenhouse gas emissions and local sustainable land use planning practices. DRA also conducts the Sustainable and Green Redevelopment Institute for CRA for 2009-2011. The Institute is designed as a comprehensive approach to the issues of sustainable development, incorporating a “horizontal” agenda associated with land use planning, California statutory requirements to reduce greenhouse gas emmissions including AB 32 and SB 375, transportation, energy generation and water conservation issues. Additionally, the agenda covers “vertical” sustainable development issues associated with building construction, sustainability measures, energy conservation and generation measures, operations and maintenance for public, commercial and residential development. Issues of financing and capital planning associated with sustainable development are also addressed.
DRA is expert at applying the principles and practices of sustainable development to real estate transactions for public agency and developer clients. This includes provision for state-of-the-art Title 24 building performance measures, installation of solar photovoltaic panel systems for generation of electrical energy requirements and water conservation measures. DRA has worked with public and private entities on installation of PV systems, including advising the Poway Redevelopment Agency on its financing for Solara, an affordable housing project which has 100% of its electrical needs met by the PV system installed on the project. DRA has also overseen the work of energy consultants in modeling and analyzing the energy use and projected savings of alternative building and design measures for multifamily projects.
DRA is skilled at assessing the financial feasibility of high cost measures, such as PV systems and energy conservation measures. DRA is also expert with the Federal Investment Tax Credit for PV systems, the California Solar Initiative, and the Federal Modified Accelerated Cost Recovery System (MACRS) as applied to real estate transactions including eligible sustainable measures. DRA’s expertise includes analyzing the effect of energy conservation measures and solar energy generation systems on allowable affordable rent calculations for low income housing tax credit projects, long-term supportable debt calculations and the determination of low income housing tax credit eligible basis and financing.
DRA is also skilled at crafting state-of-the-art district-wide and/or jurisdiction-wide practices for land use planning and development standards for sustainability. This includes infill, transit oriented and high-density development practices. DRA is also committed to advancing green building standards in new construction and rehabilitation projects, as well as green standards in on-going operations, maintenance and asset management of existing projects.