News Updates
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Furman Center Releases Policy Brief on LIHTC Program Tenants
October 22, 2012: A new analysis released by the Furman Center and its Moelis Institute for Affordable Housing Policy, “What Can We Learn about the Low Income Housing Tax Credit Program by Looking at Tenants?” examines LIHTC tenant income to assess the extent to which the program’s target demographic is served. The brief finds that forty percent of LIHTC units house extremely low-income (ELI) households. In addition, the report finds that more than 70 percent of ELI households are in units receiving some form of rental assistance, which suggests that additional subsidies are crucial to the functionality of the program. In terms of rent burden, LIHTC tenants, particularly those without rental assistance, have higher rent burdens than HUD tenants. The full report may be accessed here.
Posted October 22nd 2012
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Furman Center Hosts Policy Breakfast on Transferable Development Rights in New York City
October 17, 2012: The Furman Center hosted “The Role of Transferable Development Rights in NYC Land Development,” at the NYU School of Law, convening a panel of experts, including developers, city planners, and real estate attorneys, who have worked first hand with TDRs. The event is the first of two policy breakfasts to consider the challenges and opportunities presented by existing TDR programs in New York. Among the topics discussed, panelists explored the advantages and relative costs to developers of using TDRs rather than seeking rezoning or other alternatives. Learn more about the event here.
Posted October 17th 2012
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Ingrid Gould Ellen Discusses Crime and Community Development
October 8, 2012: Furman Center Co-Director Ingrid Gould Ellen disscussed the importance of crime on community development for a Q and A in the Robert Wood Johnson Foundation’s New Public Health blog. Professor Ellen’s comments reflect research available in “Crime and Community Development,” a chapter of the recently published book Investing in What Works for America’s Communities. Read the interview here. More on the book chapter here.
Posted October 8th 2012
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Ingrid Gould Ellen Presents at Federal Reserve Conference
October 5, 2012: Furman Center Co-Director Ingrid Gould Ellen spoke about the impact of foreclosures on children and families for a conference at the Federal Reserve Bank of New York titled, “Distressed Residential Real Estate: Dimensions, Impacts, and Remedies”. Her comments covered the impact of foreclosures on crime, renters, and school mobility. Download the full presentation here.
Posted October 5th 2012
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New Paper: American murder mystery revisited: do housing voucher households cause crime?
October 5, 2012: A new journal article by Furman Center Co-Director Ingrid Gould Ellen and NYU Wagner Professor Katherine O’Regan finds that there is no direct causal relationship between the number of Housing Choice Voucher residents in a neighborhood and increased crime. Critics of the voucher system, which provides rent subsidies to allow low-income residents to live in otherwise unaffordable neighborhoods, have alleged that an increased presence of voucher holders leads to increased crime in some neighborhoods. Systematically and empirically studying the question for the first time, the article finds that while neighborhoods with a higher proportion of voucher holding residents tend to see higher crime rates, there is not a causal relationship. The research reveals that other neighborhood characteristics are much more significant in determining crime. Instead, it appears that voucher holders tend to move in after a neighborhood experiences a rise in crime, suggesting that the intended role of vouchers to enhance holders’ neighborhood choice may be limited. Read the full paper here.
Posted October 5th 2012
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Mark Willis Speaks on Mortgage Crisis Impacts on Renters
October 2, 2012: Furman Center Research Fellow Mark Willis spoke on a panel entitled “Transitioning Into a Rentership Society” as part of the Americatalyst 2012 conference. The panel considered the long-term effects of the mortgage crisis on rental levels and behavior, looking particularly at shifting attitudes toward ownership. More on the conference here.
Posted October 2nd 2012
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Moelis Institute Hosts Roundtable on Proposal to Create a Federal Renter’s Tax Credit
October 1, 2012 – The Moelis Institute for Affordable Housing Policy convened a roundtable with leaders in New York City’s affordable housing industry to discuss the Center for Budget and Policy Priorities’ (CBPP) proposal for a new $5 billion federal tax credit for renters. After an overview of the proposal from Barbara Sard, Vice President for Housing Policy at CBPP, participants engaged in a thoughtful exchange about whether or not the credit could work with LIHTC and other financing tools, potential issues with implementing the credit, and challenges small owners would face in claiming the credit. Notes from the roundtable can be found here. This roundtable was an opportunity for New York City affordable housing practitioners to hear about emerging policy ideas in DC. We hope this will be the first of a series of discussions of early-stage federal affordable housing policy proposals.
Posted October 1st 2012
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Mark Willis Discusses Role of Federal Financing in Rental Housing
September 27, 2012: Furman Center Research Fellow Mark Willis participated in a roundtable on housing finance for the Housing Commission of the Bipartisan Policy Center. The discussion, “Positioning the Federal Role in the Future U.S. Multifamily Housing Finance System,” considered the role of Fannie Mae, Freddie Mac, and the Federal Housing Administration in supporting the financing of multifamily rental units. A key topic was the degree to which these sources of financing affect the availability of affordable rental housing. More on Bipartisan Policy Center Housing Commission here.
Posted September 27th 2012
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Mark Willis Discusses Housing Affordability and Access with Bipartisan Policy Center
September 25, 2012 – Furman Center Research Fellow Mark Willis joined a small group which met with the Bipartisan Policy Center Housing Commission to discuss the importance of ensuring that any proposal for reform of the national housing finance system addresses issues of access and affordability. This meeting followed a larger all-day roundtable at the National Council of La Raza with policy makers from across the country on the same topic. More on the Bipartisan Policy Center Housing Commission here.
Posted September 25th 2012
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Mark Willis Moderates Briefing on New York City’s Social Impact Bond Initiative
September 21, 2012: Research Fellow Mark Willis moderated a briefing about an innovative new private funding option for public service projects being applied in New York City. Called social impact bonds, under the program private institutions put up the capital to support new initiatives, alleviating financial pressure on governments. Applied in the US for the first time, the New York City Department of Corrections is using the new financing tool to fund a program aimed at reducing the reincarceration rate among adolescents. Gordon Berlin from MDRC, Elizabeth Gaynes of the Osborne Association, Michael Jacobson from the Vera Institute, Kristin Misner from the Deputy Mayor for Health and Human Services’ office, and Dora Schriro from the NYC Department of Correction spoke at the session entitled, “Managing the Social Impact Bond Initiative” as part of NYU Wagner and Accenture’s Supporting High Performance Government series. Find more information about the briefing series here.
Posted September 21st 2012
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