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 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 HTFFull Report by Sept 30Presentation to Housing Commission Nov. 5
Virginia Housing Trust Fund: 2013
Program Allocations
The Virginia Housing Trust Fund: 2013
Measuring the Economic Impact of the HTFMethodology
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 ConstructionSRO Permanent Supportive Housing Virginia BeachUnder 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 $3.8mDirect: 12 jobsIndirect: 2 jobsInduced: 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 GRPGross regional product
$27.5 million
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
Measuring the Economic Impact of the HTF
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Measuring the Economic Impact of Housing
Housing Virginia: SOURCEBOOK
Housing Virginia: SOURCEBOOK
Housing Virginia: SOURCEBOOK
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