National Housing Conference Annual Budget Forum Michael Bodaken February 24, 2012

Apartments that will not receive full year funding* Apartments that will receive full year funding*  Average household income $12,800**  70% elderly or disabled** *Data from HUD 2013 Congressional Justifications for Project Based Rental Assistance ** Data from HUD’s A Picture of Subsidized Households-2008.

LIHTCSection 8 Jobs: 52,200 annually Direct: 55, ,000 annually Induced: 45,000 Economic Impact: Tax Credit Equity: $2.7 billion annually Private Investment: $6 billion “PBRA contracts act as a critical credit enhancement for project financing, allowing owners to leverage private debt and equity to permit project refinancing and recapitalization. The periodic refinancing of this [$41 B] generates significant capital available for investment in construction repairs and improvements.” Federal, State, & Local Taxes: $1.2 billion annually$460 million annually in property taxes Combined Economic Impact * “…Annual renewal funding should be predictable, timely, and sufficient to fund rental contracts for a full 12 months, a sharp contrast to the short funding of contracts that occurred in recent years.” HUD 2010 Budget.

For More Information: Michael Bodaken, National Housing Trust   Address: th St NW, Suite 400 Washington, DC  Phone: x111  Web: