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Multifamily Rent Restricted Portfolio Data


The rent-restricted portfolio includes projects with Low Income Housing Tax Credits, federal HOME funds and financing from MaineHousing’s Rental Loan Program.

Rent-Restricted Portfolio Snapshot*

Area LIHTC Family Projects Family Units Elderly Projects Elderly Units Total Projects Total Units
North
Aroostook, Franklin, Oxford, Penobscot, Piscataquis, Somerset and Washington Counties With LIHTC** 9 211 7 247 17 493
Without LIHTC* 21 424 1 9 22 475
Central
Androscoggin, Hancock, Kennebec, Knox, Lincoln, Sagadahoc and Waldo Counties With LIHTC** 17 704 8 251 25 955
Without LIHTC** 25 433 1 128 31 652
South
Cumberland and York Counties With LIHTC** 45 1,972 18 1,071 63 3,083
Without LIHTC** 40 1,240 2 109 45 1,514
Total With LIHTC** 71 2,887 33 1,569 105 4,531
Total Without LIHTC** 86 2,097 4 246 98 2,641

* Numbers of projects are not additive because some projects contain both family and elderly units and are counted in each group.
** “With LIHTC” includes those projects with Low Income Housing Tax Credits and in most cases, also Rental Loan Program (RLP) financing. “Without LIHTC” includes RLP projects that do not have tax credits.

With LIHTC – Average Operating Costs as a Percentage of Total Income

Graph Image Insurance includes premiums for property coverage, general liability coverage, excess umbrella liability coverage, flood coverage and commercial crime coverage. Taxes include personal and property taxes, as well as payments in lieu of taxes (PILOT). Maintenance includes janitorial, building maintenance, ground maintenance and trash removal. Utilities include owner paid electricity, heating fuel, water and sewer. Management includes management fee, site management expenses and miscellaneous administrative expenses. (Does not include marketing, legal, audit or bad debts.)

Without LIHTC – Average Operating Costs as a Percentage of Total Rental Income

Graph Image Management includes management fee, site management expenses and miscellaneous administrative expenses. (Does not include marketing, legal, audit or bad debts.) Utilities include owner paid electricity, heating fuel, water and sewer. Maintenance includes janitorial, building maintenance, ground maintenance and trash removal. Taxes include personal and property taxes, as well as payments in lieu of taxes (PILOT). Insurance includes premiums for property coverage, general liability coverage, excess umbrella liability coverage, flood coverage and commercial crime coverage.

Source: Project Audited Financial Reports 2008.
Note:These numbers are for information purposes only; each property in the portfolio has unique operating characteristics.


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