The impact of LIHTC program on local schools

The low-income housing tax credit (LIHTC) program has developed over two million rental homes for low-income households since 1986. The perception of deterioration in school quality has been a main reason for community opposition to LIHTC projects in middle-and upper-income areas. In this paper, we examine the impact of LIHTC projects on the nearby school performance. The LIHTC projects tend to have positive and statistically significant impacts on school performance the year they are placed in service and this finding is robust to various specifications. Offsetting these, the one year lag effects are negative and of similar or smaller magnitude.Housing subsidies ; Housing policy ; Education ; Poverty

Long-Term Low Income Housing Tax Credit Policy Questions

Discusses Low Income Housing Tax Credit policy questions such as whether to target the lowest-income families, issues such as geographic gaps in tax credit investment demand, and ongoing capital needs and asset management for LIHTC properties

Low-income housing tax credit developments and neighborhood property conditions

Public housing has long been a contentious issue for cities and regions. While there is a great need for affordable housing in many communities, neighbors of low-income housing developments fret about neighborhood decay. This paper evaluates the notion that low-income housing developments damage the communities in which they are placed. The focus is on the evaluation of low-income housing tax credit (LIHTC) financed developments, and the neighborhood indicator of interest is the physical condition of nearby properties. The results of the empirical analysis suggest that proximity to LIHTC developments generally has a positive impact on neighborhood property conditions. However, extended analysis that separates LIHTC developments by type and size suggests that only small new construction developments and large rehab developments impact neighborhood property conditions. Further analysis reveals that when the model does not control for crime, the effect of proximity to LIHTC developments on property conditions is negative.

Strategies for Successfully Marketing and Stabilizing the Occupancy of Mixed-Income/Mixed-Race Properties: A Case Study of Academy Homes 1 in Roxbury, Massachusetts

Academy Homes I is a 202-unit mixed-income, mixed-race rental property located in the Jackson Square neighborhood of Boston's Roxbury district. While Roxbury's population has declined modestly (3.8 percent from 1990 to 2000), the Hispanic population has been growing steadily and Roxbury is now 63 percent Black and 24 percent Hispanic. Most (83 percent) of its residential properties are comprised of one, two and three family dwellings where the owner-occupancy rate is 61 percent. The median residential sales price in Roxbury reached $406,000 in 2003, surpassing Boston's$380,000 median sales price.Academy Homes was built in the 1960s under HUD's 221(d)(3) program. It received upgrades to major building components (such as roofs and windows) in 2000 after the current ownership took over in 1998. It has three types of units: 43 percent are project-based Section 8; 33 percent are low income housing tax credit (LIHTC); and 24 percent are market rate. It is in a mixed-income, mixed-race urban neighborhood where residents are comfortable with economic and racial diversity. It is diagonally across the street from a rapid transit "T" station. Schools, a sizeable grocery store, shopping and restaurants are all within walking distance. It is one of several large multi-family complexes clustered in the area that total 2000 units

Early Conclusions from The Mixed-Income Demonstration Program: Reaching Extremely Low-Income Families in Mixed-Income Settings

This report contains the results of a special Congressionally-appropriated grant program to develop affordable multi-family housing that serves extremely low income households. The grants included capital grant "gap" funding for NeighborWorks organizations operating and preserving affordable multi-family housing

What Do We Know About Housing Choice Voucher Program Location Outcomes?

Reviews research findings on the impact of vouchers on economic mobility, including voucher holders' distribution across neighborhoods, poverty and quality outcomes, and comparisons to place-based programs, as well as how voucher holders choose locations

The Uncharted, Uncertain Future of HOPE VI Redevelopments: The Case for Assessing Project Sustainability

Discusses the need for a third-party assessment of the management and financial stability issues posed by the publicly and privately funded redevelopment of housing projects into mixed-income, mixed-tenure properties. Explores feasibility at two sites

Anatomy of a Preservation Deal

In 2013, the owner, the Melville Charitable Trust, selected Preservation of Affordable Housing, Inc. (POAH), to leverage investment for capital improvements while ensuring continued housing affordability and increasing resident services. POAH was able to structure the deal while educating partners on the process and timeline, and Melville remains involved as a special limited partner, focused on the property's Firebox Restaurant and Café and related job-training and resident service programs

Spotlight: Educational opportunity: Does low-income housing tax credit hurt nearby schools?

The largest federal program designed to increase the rental housing supply for poor working families helps them find living space in decent neighborhoods with good schools. It also encounters frequent neighborhood opposition.Housing subsidies ; Education ; School choice