Arizona Housing Commission Task Force on Tax‐Exempt Mortgage Financing was established to review and report on 1) the availability of financing for single‐family housing and 2) the role of the private activity bond allocation process in facilitating the availability of housing for low‐to‐moderate income families in all areas of Arizona. The Task Force is required to issue an annual report of its activities, findings, and recommendations, including information reported to it by the four major Industrial Development Authorities and the Arizona Housing Finance Authority. These five entities issue tax‐exempt single‐family mortgage revenue bonds, mortgage credit certificates and other forms of Private Activity Bonds.

Housing plays a major role in the United States and Arizona economies. It is estimated that the housing industry accounts for one-fifth of our nation’s Gross Domestic Product. Despite the economic importance of housing, Arizona did not have a comprehensive approach or strategy for dealing with housing policy issues. In 1994, a Housing Summit addressed increasing concerns about the cost of housing. Participants from across the state met to discuss growing housing needs. A major outcome of the summit was the formation of the Affordable Housing Task Force, designed to review the state’s housing market and suggest ways the state could address housing affordability. Its principal recommendation was the creation of a permanent body that would focus attention on workable housing solutions. The Arizona Housing Commission was created by Executive Order in 1996 to serve as an advisory body to the Governor, the Legislature and the Arizona Department of Commerce, which is the primary agency currently responsible for housing programs. In 1997, the passage of House Bill 2011 formally established the Commission in statute.

The Arizona Board of Regents annually prepares an analysis of the financial condition of Arizona State University, Northern Arizona University, and The University of Arizona using data from the universities’ audited financial statements. This Assessment of Financial Strength uses the methodology developed by KPMG, BearingPoint, et al. and used by university governing boards and accreditation agencies across the country. The methodology employs four financial ratios and a single indicator of financial health—the Composite Financial Index—and provides a scale against which to benchmark our universities. The analysis is for each university’s entire enterprise, which includes their component units.

This report includes both housing data and policy recommendations which are meant to stimulate debate and provide a menu of options for policy makers and intends to fulfill the following goals:
• Provide information on key socioeconomic trends which affect housing affordability including population
growth, household formation, age distribution and income growth.
• Communicate information on housing market trends including home ownership rates, rent levels and vacancy rates, home sales prices and new construction activity.
• Analyze cost components of typical new single-family housing and multifamily construction in Arizona.
• Identify potential regulatory and policy barriers to housing affordability.
• Recommend leadership and resource policies that will avert a potential housing crisis and improve housing affordability across the state.

A landmark assessment of infrastructure needs in Arizona was produced by the L. William Seidman Research Institute in May 2008 for the Arizona Investment Council (AIC): "Infrastructure Needs and Funding Alternatives for Arizona: 2008-2032", that addressed infrastructure needs in four categories: energy, telecommunications, transportation, and water and wastewater. The information from the AIC report is a major input to the report that follows. Other types of infrastructure — most notably education, health care, and public safety — also are analyzed here to provide a more complete picture of infrastructure needs in Arizona. The goals of this report are to place Arizona’s infrastructure needs into national and historical contexts, to identify the changing conditions in infrastructure provision that make building Arizona’s infrastructure in the future a more problematic proposition than in the past, and to provide projections of the possible costs of providing infrastructure in Arizona over the next quarter century.

Growth in the stock of knowledge has been the most important factor behind the dramatic rise in living standards in the United States and other countries over the past 100 years. Systematic efforts made by firms, universities, governments, and other organizations to increase the stock of knowledge are referred to as research and development (R&D). The purpose of this paper is to provide an overview of the entire system of R&D in the United States—or as it is sometimes called, the national innovation system. Special emphasis will be placed on basic research. This is the component of R&D that is most likely to be underprovided by the private sector and the one that figures most prominently in public policy toward science and technology. The report also emphasizes the role of universities that, in the United States, perform the lion’s share of basic research.

The report provides a variety of basic statistical indicators of R&D effort and identifies recent trends in sources of R&D funding. The report also reviews classic arguments on the appropriate role of government in supporting R&D and the strengths and weaknesses of universities as performers of R&D. The U.S. national innovation system is compared with those in other major industrialized countries.

This paper provides a review of studies that examine the extent to which university research promotes local economic growth and development. The primary focus of the paper is on economic impacts that derive from the innovative outputs of faculty. this paper evaluates Arizona State University and the Phoenix metropolitan area in terms of factors that enhance the local economic impact of university research. The potential for local impacts from ASU’s research and graduate programs is greatly aided by the fact that ASU is located in a major metropolitan area with a climate and other natural amenities that mobile professional workers find attractive.