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Affordable Housing Preservation in Arizona At-Risk Federally Subsidized Properties in Arizona Valerie Iverson Executive Director Arizona Housing Alliance.

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Presentation on theme: "Affordable Housing Preservation in Arizona At-Risk Federally Subsidized Properties in Arizona Valerie Iverson Executive Director Arizona Housing Alliance."— Presentation transcript:

1 Affordable Housing Preservation in Arizona At-Risk Federally Subsidized Properties in Arizona Valerie Iverson Executive Director Arizona Housing Alliance February 25, 2011

2 Arizona’s HUD Projects TypeNumber of Projects*Number of Affordable Units* Section 81148,084 Section ,717 Section 236 or 221(d)(3)201,981 *This does not represent an unduplicated count since some projects receive support through more than one HUD program. Source: National Housing Trust

3 Arizona’s Expiring HUD Section 8 Contracts Expiration YearNumber of Affordable Units% of Affordable Units Expiring Through 20154,16352% Expiring After 20153,92148% Total8,084 Source: National Housing Trust

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5 Arizona’s USDA Rural Development Projects Number of Communities Number of Projects Number of Affordable Units Estimate of Affordable Units Eligible for Prepayment* ,1282,064 Source: National Housing Trust *According to the National Housing Law Project, only 1/3 of Section 515 housing projects are subject to post-1989 use and prepayment restrictions.

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7 Arizona’s Low Income Housing Tax Credit Projects YearAffordability Period Number of Projects Number of Affordable Units years411, years33721,745 Total37823,690 Source: Arizona Department of Housing

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10 Arizona Preservation At-Risk Analysis Project TypeHUD Section 8RD* Section 515 LIHTC**Total Total Projects Total Affordable Units8,0843,12823,69034,902 At-Risk ProjectsN/A7941N/A At-Risk Affordable Units3,9212,0641,9457,930 % At-Risk ProjectsN/A66%11%N/A % At-Risk Affordable Units49%66%8%23% Source: National Housing Trust, National Housing Law Project, and AZ Dept. of Housing *USDA Rural Development Rural Housing Services **Low Income Housing Tax Credit

11 Arizona Federally Subsidized Affordable Units

12 Arizona Preservation Database Database of federally subsidized multifamily housing in Arizona Risk Assessment-each property in the database is assigned a level of risk of conversion Expiration date REAC scores Ownership type By Year Analysis Geographic Analysis


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