"Public housing" continues to evoke visions of tenement high rises, ghettos or slums while also raising the hackles of there-goes-the-neighborhood NIMBYs (not-in-my-back-yard) and other critics who stand in the way of such development.

But what public housing really does for communities today, in addition to providing affordable shelter for those in need, is a far cry from the stereotypical, sometimes fanatically mythical beliefs generated largely by those unfamiliar with the much-needed form of housing.

Despite the hue and cry of naysayers, study after study reveals virtually all forms of below market rate housing generally gives back to the same community it taps for subsidies, special funding and other financial support.

The pay back isn't always in the form of much valued super-heated property appreciation, but in terms of often overlooked benefits that are just as tangible and beneficial to the community at large.

Long overdue, the landmark "Assessing the Economic Benefits of Public Housing" solidly makes the case.

"We've always known how important public housing is to people on fixed incomes and low-wage families," said Council of Large Public Housing Authorities (CLPHA) executive director Sunia Zaterman.

"But this is the first time that its role as an economic engine has been studied, and it's an excellent reminder that when we fund public housing, we're making a measurable investment in our communities as well," she added.

CLPHA, along with the Public Housing Authorities Directors Association (PHADA) supported the study conducted by Econsult Corporation and sponsored by the Housing Authority Insurance (HAI) Group.

The study examined public housing in ten markets that differed in scale, economic health, and geographic location -- Akron, OH; Boston, MA; Charlotte, NC; Dallas, TX; Kansas City, MO; Miami, FL; New Bedford, MA; Oakland, CA; San Diego, CA; and Seattle, WA.

The study found that in addition to its role as an essential part of the housing market, public housing makes significant contributions to the local economy.

• Public housing is critical for low-wage earners. The average wage in industries such as travel accommodations and food service, are too low for workers to afford market rate housing costs. Public housing provides more than 1.2 million households with nearly $6,000 a year in rent subsidies.

• Public housing is essential in helping preserve affordable housing. The total replacement cost for the 1.2 million units of existing public housing would approach $145 billion, excluding land.

• Public housing related expenditures contribute significantly to local market economies. Direct spending by public housing authorities on capital improvements, maintenance and operations is approximately $8.1 billion a year. Direct spending generates an additional $8.2 billion in economic activity in these communities.

• Unfortunately, according to the report, public housing was under-funded by $6.7 billion between 2000 -2006 compared to actual need.

"In recent years, we've witnessed a sharp decrease in support from the federal government for this valuable asset; we wanted to make sure everyone knows the full story of how public housing benefits the wider community," said Dan Labrie, CEO of the HAI Group.

"We sponsored this study because of our commitment to seeing public and affordable housing thrive."