PRIOR HIT INVESTMENT INITIATIVES
Some of the HIT’s past investment initiatives that have provided meaningful community benefits across the U.S. are described below:
- The Construction Jobs Initiative (2009 – 2017) was the HIT’s response to the recession and its devastating effects on working people and their communities.
- The Chicago Community Investment Plan (CCIP) (2005 – 2015) was a multifamily investment initiative announced by the HIT and the city of Chicago in 2005 to help Chicago address housing and community development needs.
- The Illinois Housing Initiative (2005 – 2011) was a joint effort of the HIT and the Illinois Housing Development Authority, also launched in 2005, to help the state’s needs for affordable and mixed-income housing.
- Section 8 Community Investment Demonstration Program (1994 – 2000) was a nationwide pilot program to expand affordable housing in partnership with the U.S. Department of Housing and Urban Development (HUD). The HIT was HUD’s largest partner in the demonstration program and was awarded $115 million in project-based Section 8 rental assistance in 1994 and 1995.
- Homeownership Initiatives – The HIT has carried out various initiatives to expand homeownership opportunities for working families around the country (1991 – 2012).
* The estimates of jobs and economic and financial impacts were calculated by Pinnacle Economics and the HIT using an IMPLAN input-output model based on HIT project data. The IMPLAN model works by tracing how and where money spent on construction investments circulates through the economy. The data for IMPLAN is collected by the U. S. Department of Commerce, the U.S. Bureau of Labor Statistics, and other federal and state government agencies. Data are collected for 528 distinct producing industry sectors of the national economy corresponding to the Standard Industrial Categories (SICs). IMPLAN is utilized currently by a number of impact managers to quantify their outputs.
** Job and economic impact figures are estimates calculated using IMPLAN, an input-output model, based on HIT and subsidiary Building America project data. The data is current as of June 30, 2019. Economic impact data is in 2018 dollars and all other figures are nominal.