Measuring the Economic Impact of the Virginia Housing Trust Fund Housing Policy Advisory Council...
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Transcript of Measuring the Economic Impact of the Virginia Housing Trust Fund Housing Policy Advisory Council...
![Page 1: Measuring the Economic Impact of the Virginia Housing Trust Fund Housing Policy Advisory Council September 1, 2015.](https://reader030.fdocuments.net/reader030/viewer/2022032805/56649ef05503460f94c0004e/html5/thumbnails/1.jpg)
Measuring the Economic Impact of the Virginia Housing Trust Fund
Housing Policy Advisory Council September 1, 2015
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Measuring the Economic Impact of the HTF
VHC has retained VCHR Measure Impact from “Round 1” of HTFFull Report by Sept 30Presentation to Housing Commission Nov. 5
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Virginia Housing Trust Fund: 2013
Program Allocations
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The Virginia Housing Trust Fund: 2013
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Measuring the Economic Impact of the HTFMethodology
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VA-HTF$
$
$
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ECONOMIC IMPACT=
+ Initial impact from HTF investments.
+ Direct and indirect impact from supply chain activity.
+ Induced impact from wages to household spending.
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Measuring the Economic Impact of the HTF: Case Study Crescent Square
80 Unit New ConstructionSRO Permanent Supportive Housing Virginia BeachUnder construction - 1/1/16
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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 $3.8mDirect: 12 jobsIndirect: 2 jobsInduced: 33 jobs
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Measuring the Economic Impact of the HTF: Case Study Crescent Square
TOTAL is 129 jobs $5.9 million in earnings
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Measuring the Economic Impact of the HTF: Case Study Crescent Square
Total Growth in GRPGross regional product
$27.5 million
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Measuring the Economic Impact of the HTF:525 Selbon Ave. – Foreclosure Recovery
One of 22 rehabs completed by HabitatLocated in RichmondTotal rehab cost - $54,400GRP impact $143,898
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Measuring the Economic Impact of the HTF
STAY TUNED!
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Measuring the Economic Impact of Housing
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Housing Virginia: SOURCEBOOK
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Housing Virginia: SOURCEBOOK
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Housing Virginia: SOURCEBOOK