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5 Neighborhood-Based Communities: An effort, often generated by a community develop- ment corporation, to revitalize a declining neighborhood by rehabilitating existing housing stock, building new units, and attracting affluent residents. The revitalization provides a retention program to prevent the displacement of longtime, lower-income inhabitants. Project-Based Communities: A development with a mix of market-rate and publicly assisted residents (such as one-third market-rate, one-third moderate-income, and one-third low- income). It is achieved through a variety of state, local, and federal policies and develop- er incentives, such as low-income housing tax credits, inclusionary zoning, fee waivers, or expedited review. The U.S. Department of Housing and Urban Development’s (HUD) HOPE VI also has transformed public housing projects into new mixed-income commu- nities, funded with a mix of public dollars and private investment. Mixed-Income Housing: Myth and Fact is the fifth in the Urban Land Institute’s Myth and Fact Series. Earlier editions have addressed transportation and growth, smart growth, urban infill housing, and the environment and development. This most recent publi- cation in the series offers facts to address eight of the most common myths associated with mixed-income housing, especially misconceptions related to affordability. In sup- port of these facts, it highlights profiles of a variety of mixed-income housing projects and profiles developers with significant experience in this area. For-profit developers, public agencies, community development corporations, and oth- ers can work collaboratively or independently to provide high-quality, attractive living environments that include affordably priced housing. Mixed-Income Housing: Myth and Fact is aimed at dispelling common misconceptions related to these housing develop- ments by providing relevant facts and information about a variety of settings in which such developments succeed.