Sign Up For Novogradac Industry Alert Emails

FLA. HOUSING REQUESTS COMMENTS ON JOBS CREATED BY LIHTC DEVELOPMENTS

Tuesday, February 15, 2011 - 8:00AM

Florida Housing Finance Corporation (FHFC) is requesting comments on a draft of a white paper that examines the jobs created by low-income housing tax credit (LIHTC) developments. The white paper examines whether constructing new LIHTC developments or preserving existing developments creates more jobs. FHFC found that new construction creates, on average, 340 jobs per property whereas each preservation project creates 217 jobs. When considering the amount of tax credits needed for a project, the study also found that FHFC can fund an estimated 22 preservation developments to create 4,772 jobs versus an estimated 12 new construction developments, which create 4,079 jobs. FHFC will accept comments on the draft until 5 p.m. February 17 and anticipates releasing the final version of the white paper at the end of this week.

Learn more about Novogradac's expertise and many services