LIHTC Database Update and Upcoming Tenant Data Collection Quarterly Housing Market and Research Update June 10, 2010 Michael Hollar, Economist Office of Policy Development and Research Economic Development and Public Finance Division
Slide 2LIHTC Data Collection Overview of the LIHTC Program New LIHTC Property Data Upcoming LIHTC Tenant Data Collection
Slide 3Created in 1986 to empower private advancement of low-pay rental lodging. State HFAs distribute government assess credits to engineers who keep up lease/salary confinements. HUD's power is constrained to the assignment of DDAs and QCTs, which are geologically focused on regions for advancement. Outline of the LIHTC Program
Slide 4Collection of LIHTC Data: In mid-1990's PD&R started gathering information from state HFAs on property attributes. The most recent upgrade incorporates properties set in administration through 2007. Information can be gotten to at: http://lihtc.huduser.org/
Slide 5LIHTC Production Peaked in 2005
Slide 6Geographical Differences
Slide 7Geographical Differences LIHTC Projects Larger in South and West
Slide 8Geographical Differences LIHTC Projects Contain More Market Rate Units in Northeast and Less in South
Slide 9Geographical Differences LIHTC Units are Smaller in Northeast
Slide 10Geographical Differences LIHTC Units are Smaller in Northeast
Slide 11Geographical Differences Higher Percentage of Rehab Units in Northeast
Slide 12Geographically-Targeted Areas DDAs are ranges with high improvement costs. QCTs are evaluation tracts with high neediness rates or high rate of low-wage family units.
Slide 13Geographically-Targeted Areas LIHTC Properties in DDAs are Smaller
Slide 14Geographically-Targeted Areas Properties in DDAs have Fewer Restricted Units
Slide 15Geographically-Targeted Areas Similar Unit Size Across Areas…
Slide 16Geographically-Targeted Areas … however Differences in Distribution of Unit Size
Slide 17Geographically-Targeted Areas More Rehab in Designated Areas
Slide 18LIHTC Compared to Rental Market
Slide 19LIHTC Compared to Rental Market LIHTC Units Skewed to Lower Cost Areas
Slide 20LIHTC Compared to Rental Market LIHTC Units Locating in Higher Cost Areas
Slide 21LIHTC Tenant Data Collection: Housing and Economic Recovery Act (HERA) requires: State HFAs must give to HUD: HUD's Responsibility: Establish norms and definitions for the information accumulation. 3) Data must be gathered in any event yearly and made publically accessible. Salary; Use of Rental Assistance; Disability Status; Monthly Rental Payments Race; Ethnicity; Family Composition; Age;
Slide 22Initial Submission of New Data First information accumulation will include: All properties put into administration in 2008 & 2009. Every one of the occupants in LIHTC units as of Dec. 31, 2009. HUD is asking for information by September 30.
SPONSORS
SPONSORS
SPONSORS