With each project, CAPC impacts both the neighborhood and municipality by:
Increasing the affordable housing stock in target neighborhoods. Each year CAPC returns between 50 and 75 units to productive use. Over 80 percent of these units are affordable to low and moderate income households. All housing is built to a high quality standard, with essential improvements to the energy efficiency and safety of all existing units.
Adding significant value to both rehabilitated homes and neighboring properties. Each property rehabilitated by CAPC receives on average $100,000 in direct investment. CAPC’s work also has a positive effect of neighboring properties. As a vacant home is returned to active use value is restored to all surrounding homes adding to the economic strength and viability of the overall community.
Spurring economic activity through the creation of jobs and timely collection of property taxes. CAPC’s approach to housing rehabilitation places a strong emphasis on the creation of local jobs. CAPC estimates that between five and eight jobs are created or preserved in the development and construction of a single property. CAPC is committed to working with local community builders and contractors. Vacant properties not only create blight, they also negatively impact the municipal tax base, making timely collection of property taxes extremely difficult. Each municipality stands to benefit greatly from CAPC’s work through timely collection of taxes once homes are rehabilitated and returned to active use.