The transit oriented basis boost : adapting the LIHTC to finance affordable housing near transit

The Low-Income Housing Tax Credit is arguably the most successful and important program in American history for the creation of affordable housing. The program leverages private investment in affordable housing, through tradable tax credits, to produce quality affordable housing throughout the country. By providing additional money for projects in areas with especially low incomes and high development costs, the program has actively encouraged the creation of affordable housing in certain cities, towns and neighborhoods. At the federal level, the program has not, however, encouraged the development of housing near transit. Since 2008, when states were given the option to provide additional money for certain projects, five states began programs to provide additional money to projects near transit. This thesis examines the possibility of providing additional money to projects near transit at the federal level, in the form of a transit -- oriented basis boost. It starts with a brief introduction to the Low-Income Housing Tax Credit, followed by a discussion of the importance of housing near transit. It then examines what various states are doing to encourage affordable housing near transit, followed by a proposal for a federal basis boost program. The thesis culminates in a case study, showing how providing additional money to projects near transit might affect the economics of developing affordable housing near transit.

Department dc:contributor.department

Massachusetts Institute of Technology. Dept. of Urban Studies and Planning.

Grantor dc:publisher

Massachusetts Institute of Technology

Year dc:date.issued

2011

Author dc:creator

• Magliozzi, Alex (Alex T.)

Advisor dc:contributor.advisor

• James Buckley.

• Urban Studies and Planning.
• Center for Real Estate. Program in Real Estate Development.

Statement dc:rights

• M.I.T. theses are protected by copyright. They may be viewed from this source for any purpose, but reproduction or distribution in any format is prohibited without written permission. See provided URL for inquiries about permission.

Licence dc:rights.uri

• http://dspace.mit.edu/handle/1721.1/7582

Language dc:language.iso

eng

Handle dc:identifier.uri

http://hdl.handle.net/1721.1/68195

OAI identifier oai:identifier

oai:dspace.mit.edu:1721.1/68195