Tidewater Real Estate Blog

Funding for Low-Income Housing Pays Off
Low-income housing programs managed by the Federal Home Loan Bank of Atlanta have had a positive impact on the area’s low- and moderate-income residents by creating more jobs and jump-starting the retail economy, according to a study released Thursday.

Research from The Shimberg Center for Housing Studies at the University of Florida tried to quantify the ripple effect of the $380 million that the bank has provided to build more than 60,000 units of housing between 1990 and 2009.

It concluded:

• Every $1 million in funding resulted in $14.3 million worth of new or rehabbed housing.
• Each $1 million in funding created 158 jobs.
• Since 1989, funding from the bank has generated more than $811 million in tax revenue, representing $2.79 in taxes for each $1 of funding.

Source: Federal Home Loan Bank of Atlanta (03/11/2010)

Posted by Brad Nichols on March 12th, 2010 4:38 PMPost a Comment (0)

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