Financing the Future: The Mixed-Income Public Development Model

Spent all your tax credits? The public development model could be the next big thing in affordable housing.

As communities across the nation grapple with housing affordability challenges, a new approach is gaining traction: public enterprises for housing. This event will delve into how local and state governments are taking an active role in addressing the housing crisis through innovative, self-financing models.

Our biggest source of affordable housing, the Low-Income Housing Tax Credit program, has its limits— literally. Congress allocates a limited amount of LIHTCs to each state every year. When those credits have all been awarded to projects, developers need to turn to other sources of funding or wait until the next year to compete again. But as affordable housing goals grow more lofty, where else can developers turn?

Whether you call it social housing, mixed-income, or the public enterprise model, these self-financing models are seeing increasing interest from state and local governments as the competition for resources rages on. But how do these models work? And how do they differ and complement existing affordable housing programs?

HousingForward Virginia invites you to hear from two leaders working at the forefront of this innovative model.

Guest Speakers

Paul Williams – Executive Director, Center for Public Enterprise

Paul is the go-to expert for any community looking to expand their supply of affordable housing through creative financing tools. After working with the Housing Opportunities Commission (HOC) in Montgomery County, Maryland to scale up their first-in-the-nation public development model, Paul and CPE are now working with multiple state and local agencies across the country to build similar tools.

John Majors – CEO, Atlanta Urban Development

John leads Atlanta Urban Development (AUD), a specialized non-profit corporation created by the City in 2023 to facilitate the redevelopment of public land. John will share the story behind AUD, and share details about its work to turn vacant malls and unused school buildings into mixed-income housing. 

Moderator: Monique Johnson, PhD – Chief of Programs, Virginia Housing

Monique’s career includes over 20 years of experience in affordable housing development, commercial real estate lending, and organizational strategy and program operations. She is passionate about solving complex problems and mentoring the next generation of leaders. Monique also sits on the Board of the Housing Association of Nonprofit Developers and is a member of the Virginia Commonwealth University Real Estate Circle of Excellence.

This special presentation will be open to all attendees of the 2024 Virginia Governor’s Housing Conference in Virginia Beach.

Register for VAGHC 2024 to attend!

The Virginia Governor’s Housing Conference is Virginia’s largest housing event. The conference has a broad range of attendees from many professional sectors including nonprofit organizations, foundations and other philanthropic donors, affordable housing developers, economic developers, local government elected officials, design professionals, financial institutions, government agencies, private developers, real estate professionals, educational institutions, trade organizations, community-based and faith-based organizations, and public housing providers. The conference consistently attracts more than 1,100 affordable housing advocates, providers and policy makers to discuss a host of important issues affecting all Virginians.