Library

eCommons

 

Curbing the Loss of Affordable Rental Housing in Florida: A Risk Assessment Approach

Simple item page
dc.contributor.authorRoset-Zuppa, Patricia
dc.date.accessioned2020-09-04T17:13:31Z
dc.date.available2020-09-04T17:13:31Z
dc.date.issued2008-07-01
dc.description.abstractThousands of Floridian families in need of affordable housing rely on privately-owned multifamily rental apartments that were constructed under federal government programs in the 1960s through 1980s. The terms of the subsidy programs and the age of the structures now cause many units to be faced with a high risk of loss to the affordable housing stock. Units are lost as a result of conversion to market-rate housing upon the prepayment or maturity of a subsidized mortgage, or the expiration of a rental assistance contract or use restriction. Units are also lost through physical deterioration and mortgage default. Preservation of affordable housing has been hampered by a lack of multifamily housing research and data. This paper describes the creation of an assisted housing inventory and the analysis of property characteristics as an approach to identify properties most at risk of loss and to steer preservation policy and funding. This risk assessment approach is applied to Florida’s assisted housing stock. For units at risk by 2015, it found that the majority receives project-based rental assistance, that all population groups are impacted by the potential loss, that almost half have non-profit ownership, and that only four counties house almost 50 percent of atrisk units. Rent restructuring, debt restructuring, additional funding programs and property tax relief are described as preservation strategies.
dc.description.legacydownloads2008_54_69_Roset_Zuppa.pdf: 488 downloads, before Aug. 1, 2020.
dc.identifier.other5540442
dc.identifier.urihttps://hdl.handle.net/1813/70641
dc.language.isoen_US
dc.relation.ispartofseriesCornell Real Estate Review
dc.rightsRequired Publisher Statement: © Cornell University. Reprinted with permission. All rights reserved.
dc.subjectCornell
dc.subjectreal estate
dc.subjectaffordability
dc.subjecthousing demand
dc.subjectdemographic shifts
dc.subjectimmigration
dc.subjectcost burden
dc.subjectBelow Market Interest Rate
dc.subjectBMRI
dc.subjectFederal Housing Administration
dc.subjectFHA
dc.subjectloans
dc.subjectrental assistance
dc.subjectHUD
dc.subjectHousing and Urban Development
dc.subjectSection 8
dc.subjectLIHTC
dc.subjectLow Income Housing Tax Credits
dc.subjectmortgage maturitiy
dc.subjectexpiration
dc.subjectpreservation
dc.subjectrisk
dc.subjectassessment
dc.subjectdebt restructuring
dc.subjecttax relief
dc.titleCurbing the Loss of Affordable Rental Housing in Florida: A Risk Assessment Approach
dc.typearticle
local.authorAffiliationRoset-Zuppa, Patricia: University of Florida
schema.issueNumberVol. 6

Files

Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
2008_54_69_Roset_Zuppa.pdf
Size:
545.72 KB
Format:
Adobe Portable Document Format
Download

Collections

CRER Vol. 06 (2008)