A LOOK AT 13 LOW-INCOME HOUSING TAX CREDIT DEVELOPMENTS AROUND THE NATION THAT SHOW THE WIDE RANGE OF HOUSING THE PROGRAM HAS FINANCED AND THE PEOPLE IT SERVES.
Developers not only build affordable housing with the low-income housing tax credit, but they also revitalize communities and create jobs. We’ve estimated how many jobs on the projects of note that follow.
To make these estimates, we used a formula created by the National Association of Home Builders (NAHB) in its 2010 study “The Local Economic Impact of Typical Housing Tax Credit Developments.” The NAHB found that the construction of a typical 100-unit family tax credit development creates an average of 122 local oneyear jobs. The construction of a typical 100-unit seniors or special-needs tax credit development creates an average of 113 local one-year jobs.
The rehabilitation of existing developments is also important to providing affordable housing and creating new construction jobs. For every $100,000 spent on residential remodeling, 1.11 jobs are created, according to NAHB’s analysis of home construction data from the U.S. Bureau of Economic Analysis.
Also, the following projects are labeled with their congressional districts. These are based on the districts for the 113th Congress.
To read more articles from LIHTC Yearbook 2012, click here.