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The Economic Impact of Low Income Housing Tax Credit Development Along Transit Corridors in Metro Denver: Income, Jobs, and Taxes Generated

This report presents estimates of the metro area impacts of new units built using the housing tax credit during the six-year period starting in 2004 and running through 2009, in the five- county area (Adams, Arapahoe, Denver, Douglas, and Jefferson) in the Denver metropolitan area. The comprehensive nature of the NAHB model requires that the local area over which the benefits are spread be large enough to include the places where construction workers live and spend their money, as well as the places where the new home occupants are likely to work, shop, and go for recreation. In practice, this usually means a Metropolitan Statistical Area (MSA), as defined by the U.S. Office of Management and Budget (OMB). Based on local commuting patterns, OMB has identified the Denver MSA as a metro area consisting of the five counties mentioned above, plus five others (Broomfield, Clear Creek, Elbert, Gilpin, and Park) in Colorado (see map on the following page).