Virginia Housing Trust Fund
The 2013 Virginia Housing Trust Fund (VHTF) Economic Impact Study demonstrates how investments made by the VHTF, not only benefit low-income residents, but also contribute substantially to Virginia’s economy.
The Virginia biennium budget for fiscal years 2013-2014 allocated $8,000,000 to create the Virginia Housing Trust Fund. The study examines the impact of the VHTF investment fund only, as well as the impact of the combination of VHTF funds with substantial additional leveraged funds, on Virginia’s economy:
|Economic Impact, Total Projects & Programs Studied|
|HTF Investment + Leveraged Funds||531||$23,638,809||$106,027,400|
Other Key Findings:
- The 2013 VHTF allocation has already had a substantial impact on Virginia’s economy.
- Study estimates that 531 jobs created in Virginia; though not included, the increased economic activities of these individuals will add to the benefits.
- VHTF helped prevent foreclosures, helped rehabilitate dilapidated buildings, and contributed to new construction projects throughout the state.
- The human impact on stable families, better school performance for children, and increased property values, must be taken into account as well.