Stain or Sustain? Equitable Neighborhood Revitalization of Distressed Communities through the Low Income Housing Tax Cre...

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Material Information

Title:
Stain or Sustain? Equitable Neighborhood Revitalization of Distressed Communities through the Low Income Housing Tax Credit Program, and the Housing Choice Voucher Program
Physical Description:
1 online resource (255 p.)
Language:
english
Creator:
Chung, Hyung-Chul
Publisher:
University of Florida
Place of Publication:
Gainesville, Fla.
Publication Date:

Thesis/Dissertation Information

Degree:
Doctorate ( Ph.D.)
Degree Grantor:
University of Florida
Degree Disciplines:
Design, Construction, and Planning, Design, Construction and Planning
Committee Chair:
SILVER,CHRISTOPHER
Committee Co-Chair:
LARSEN,KRISTIN ESTHER
Committee Members:
ZWICK,PAUL D
FIK,TIMOTHY J

Subjects

Subjects / Keywords:
choice -- community -- credit -- development -- housing -- income -- low -- neighborhood -- program -- property -- revitalization -- tax -- value -- voucher
Design, Construction and Planning -- Dissertations, Academic -- UF
Genre:
Design, Construction, and Planning thesis, Ph.D.
bibliography   ( marcgt )
theses   ( marcgt )
government publication (state, provincial, terriorial, dependent)   ( marcgt )
born-digital   ( sobekcm )
Electronic Thesis or Dissertation

Notes

Abstract:
The Low Income Housing Tax Credit (LIHTC) program and the Housing Choice Voucher (HCV) program are the two major public tools that can provide for the inclusion of low income households in neighborhood revitalization efforts directed at improving the property tax base. The use of voucher in LIHTC-funded developments might benefit those who otherwise cannot afford to live in affordable housing. Although the increasing property values in revitalized communities can displace low-income residents, the LIHTC projects may contribute to absorbing the housing demand.  This study empirically examines the debate over the externalities of subsidized housing programs and their efficacy in community revitalization. This study addresses three research questions. (1) What is the effect of the LIHTC and HCV programs on property values in impoverished neighborhoods?(2) How does the effect vary depending on various neighborhood types? (3) What do these impacts mean for equitable neighborhood revitalization? To answer these questions, this study applies a regression with Adjusted Interrupted Time Series to examine the price impact of the LIHTC and HCV programs, and uses Ordinary Least Square regression to investigate the displacement effect on HCV holders. This dissertation focuses on Orange County, FL between 1990 and 2010. The results show that the HCV residents generally have positive impact on sale prices by approximately 4 percent on average, while the LIHTC projects have negative impact on property values by 7 percent. However, the LIHTC funded developments positively affect property values in block groups with 30-60 percent of AMI and 20-40 percent of poverty rate, implying that there is a potential to revitalize economically depressed neighborhoods. In terms of displacement on HCV holders, the higher housing prices decrease the number of voucher holders whereas the assisted rental housing stock absorbs the voucher recipients to some extent. However, LIHTC projects highly promote the usage of vouchers in general. Therefore, I also propose and test future policies based on the analysis outcomes indicating that policy makers should facilitate and incentivize the use of a combination of strategies with the LIHTC and HCV programs by altering local governments'plans gradually.
General Note:
In the series University of Florida Digital Collections.
General Note:
Includes vita.
Bibliography:
Includes bibliographical references.
Source of Description:
Description based on online resource; title from PDF title page.
Source of Description:
This bibliographic record is available under the Creative Commons CC0 public domain dedication. The University of Florida Libraries, as creator of this bibliographic record, has waived all rights to it worldwide under copyright law, including all related and neighboring rights, to the extent allowed by law.
Statement of Responsibility:
by Hyung-Chul Chung.
Thesis:
Thesis (Ph.D.)--University of Florida, 2013.
Local:
Adviser: SILVER,CHRISTOPHER.
Local:
Co-adviser: LARSEN,KRISTIN ESTHER.
Electronic Access:
RESTRICTED TO UF STUDENTS, STAFF, FACULTY, AND ON-CAMPUS USE UNTIL 2015-12-31

Record Information

Source Institution:
UFRGP
Rights Management:
Applicable rights reserved.
Classification:
lcc - LD1780 2013
System ID:
UFE0046198:00001