Economic Development & Housing Flashcards

What is the primary purpose of a 'Housing Needs Assessment' in municipal planning?

Answer: To quantify current and projected housing supply gaps, affordability issues, and demographic demand across income levels

A Housing Needs Assessment analyzes population trends, income distribution, housing costs, and vacancy rates to identify gaps between housing supply and the needs of current and future residents.

Which approach to homelessness prevention has shown the strongest evidence base and is now promoted as a best practice by HUD?

Answer: Housing First model providing immediate permanent housing without preconditions

The Housing First model places individuals experiencing homelessness into permanent housing immediately without preconditions and then provides voluntary supportive services, showing significantly better long-term housing stability outcomes.

A municipality's comprehensive plan calls for 'transit-oriented development' (TOD). Which characteristic best describes a TOD?

Answer: Higher-density, mixed-use development concentrated within walking distance of transit stations

TOD concentrates higher-density, mixed-use development within a quarter to half-mile radius of transit stations to maximize ridership, reduce car dependency, and support walkable communities.

The Low-Income Housing Tax Credit (LIHTC) program is administered at the state level by which type of agency?

Answer: State Housing Finance Agencies (HFAs)

The IRS allocates LIHTC credits to State Housing Finance Agencies, which then competitively award them to developers according to each state's Qualified Allocation Plan (QAP).

A city wants to measure the return on investment of its economic development incentives. Which metric calculates the total public cost per net new job created?

Answer: Cost per Job

Cost per job is a standard economic development metric that divides the total public investment (grants, abatements, infrastructure) by the number of net new jobs to evaluate incentive efficiency.

Under the Fair Housing Act, which of the following is considered a protected class?

Answer: Familial status

The Fair Housing Act prohibits discrimination based on race, color, national origin, religion, sex, disability, and familial status (having children under 18), with many states and localities adding additional protected classes.

A city manager is evaluating a proposed downtown revitalization plan. What does 'placemaking' refer to in economic development?

Answer: A collaborative process of designing and activating public spaces to strengthen community identity and economic vitality

Placemaking is a people-centered approach to the planning, design, and management of public spaces that leverages local community assets to create vibrant destinations that attract investment and strengthen community identity.