Measuring the Economic Impact of the Virginia Housing Trust Fund Housing Policy Advisory Council September 1, 2015.

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Presentation transcript:

Measuring the Economic Impact of the Virginia Housing Trust Fund Housing Policy Advisory Council September 1, 2015

Measuring the Economic Impact of the HTF VHC has retained VCHR Measure Impact from “Round 1” of HTF Full Report by Sept 30 Presentation to Housing Commission Nov. 5

Virginia Housing Trust Fund: 2013 Program Allocations

The Virginia Housing Trust Fund: 2013

Measuring the Economic Impact of the HTF Methodology

VA- HTF $ $ $

ECONOMIC IMPACT= + Initial impact from HTF investments. + Direct and indirect impact from supply chain activity. + Induced impact from wages to household spending.

Measuring the Economic Impact of the HTF: Case Study Crescent Square 80 Unit New Construction SRO Permanent Supportive Housing Virginia Beach Under construction - 1/1/16

Measuring the Economic Impact of the HTF: Case Study Crescent Square $11.7 million TDC $9.7million to Virginia enterprises JOBS Initial: 82 jobs w/ combined earnings of $3.8m Direct: 12 jobs Indirect: 2 jobs Induced: 33 jobs

Measuring the Economic Impact of the HTF: Case Study Crescent Square TOTAL is 129 jobs $5.9 million in earnings

Measuring the Economic Impact of the HTF: Case Study Crescent Square Total Growth in GRP Gross regional product $27.5 million

Measuring the Economic Impact of the HTF: 525 Selbon Ave. – Foreclosure Recovery One of 22 rehabs completed by Habitat Located in Richmond Total rehab cost - $54,400 GRP impact $143,898

Measuring the Economic Impact of the HTF STAY TUNED!

Measuring the Economic Impact of Housing

Housing Virginia: SOURCEBOOK

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