Journal Article
Pay for Success: building on 25 years of experience with the Low Income Housing Tax Credit
Ludwig, Terri (2013)
Pay for Success (PFS) has been touted as the hot new innovation in social investing. Over the past year, investors and governments across the country have committed millions of dollars to exciting new tools like social impact bonds (SIBs), which deliver a financial return only when specific social goals are met. But this approach is not new. Indeed, socially driven investors have used the PFS model for more than a quarter century. Consider the Low Income Housing Tax Credit (LIHTC), the primary tool for financing affordable housing development in the United States since the mid-1980s. Under ...
Community Development Innovation Review , Issue 01 , Pages 109-113