Revenue Projections Spell More Trouble for Affordable Housing
The Washington Post has an article out today on the city’s projected revenue. The news ain’t pretty: For the next two years, the city will be taking in $500 million less than expected a few months back. That means: “$135 million less in fiscal 2009. For next year, the situation is even worse. Revised projections show an additional $350 million shortfall on top of the $456 million announced in December, Gandhi said, according to city officials who were briefed.”
The article suggests that cuts will most likely be made to affordable housing and street paving programs—two areas that Mayor Adrian Fenty and the D.C. Council have been able to trim in the past.
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Linked From: February 25th, 2009Property Reassessments Partially to Blame for D.C. Budget Problems - Housing Complex - Washington City Paper
6:03 pm[...] morning, the Washington Post reported that CFO Nat Gandhi is projecting $500 million less than previously expected in city revenues in the next two years. If [...]
