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On average, developers needed to layer an average of 3.5 different funding sources to finance developments built between 2000 and 2018, according to a recent report published by the Terner Center for Housing Innovation at UC Berkeley. One in four sites layered at least five (and in some cases as many as 11) sources. The average number of sources has also increased over time, in line with the rise of development costs, according to the report, “The Complexity of Financing Low-Income Housing Tax Credit Housing.”
