Posts Tagged ‘housing production trust fund’

Affordable Housing Could Be the Big Winner in D.C.’s Budget Boom

Once again, we're rich. The D.C. government will post a $321 million surplus for the 2013 fiscal year, the city's third consecutive budget surplus, new Chief Financial Officer Jeffrey DeWitt announced today. And if we keep it up, the biggest beneficiary will be affordable housing.
Mayor Vince Gray and Councilmembers Phil Mendelson and Kenyan McDuffie worked out a system for spending surplus funds [...]

McDuffie Bill Would Dedicate Surplus Funds to Affordable Housing

Kenyan McDuffie is on something of an affordable-housing tear. The Ward 5 councilmember introduced a bill last summer to provide clearer definitions of "affordable housing" on a project-by-project basis, given that housing classified as affordable can have an income threshold of 80 percent of area median income, which for a family of four is over [...]

Gray Pledges One-Time $100 Million Investment in Affordable Housing

With the District being flush with cash, city officials have been talking up the need to make a new investment in affordable housing. At his State of the District address tonight, Mayor Vince Gray is promising just that, committing to a $100 million investment to create and preserve 10,000 affordable housing units.
"Since coming into office, my [...]

A Q&A With David Grosso on Housing and Development

The countdown clock to election day stands at 18 days. Nationally, all eyes might be on the presidency, but here in the District, the competition to watch will be the at-large D.C. Council race. A brand-spankin'-new City Paper poll finds independent challenger David Grosso just five points behind incumbent Michael Brown—a near-statistical tie, given the [...]

O Street Market Delay Could Cost City More Cash

Shaw's Giant grocery store closes today, and despite doubts and delay, Roadside Development told Advisory Neighborhod Commission 2C last night that the CityMarket at O development is finally getting started in earnest. But because of the extra time, the Chief Financial Officer says it'll cost the city more than anticipated.
Yesterday, CFO Nat Gandhi sent the [...]

Meet the New Boss: DHCD Director John Hall

Mayor Vince Gray's pick to head the Department of Housing and Community Development has been on the job for four weeks, and already had to deal with a massive Washington Post series critical of both his former and current employers. And he's moving in to a new apartment tomorrow! As has become Housing Complex habit, [...]

Budget Chunks: More Dough for Housing, Main Streets, Cap City Diner

The budget rundowns continue! This time with housing stuff and economic development stuff.
Councilmember Michael Brown's Housing and Workforce Development committee was the target of lobbying from affordable housing advocates over the yanking of $18 million from the Housing Production Trust Fund, and other issues. The report, which passed unanimously today, does the following things:

Recommends the [...]

Will Tenant Purchases Continue?

It's that time of year again: When various interest groups cycle through the Wilson Building to justify their spending priorities, especially if they're being cut in this year's budget. Most of them actually got off okay, given that Mayor Vince Gray decided to raise some taxes (or "revenue enhancements") rather than taking the entire $322 [...]

Buyer’s Remorse: A D.C. law helped tenants become owners. But it didn’t fix the sink.

From the outside, the humble brick three story at 1333 Peabody Street NW looks like most other aging apartment buildings in Brightwood. A number of the ancient single-pane windows are cracked. Inside, carpets are musty, paint is bubbling, and fixtures are coming loose.
“The kitchen areas, the bathroom areas, are urgent,” says resident Robert Adejayan, ticking [...]

Housing Committee Markup: Not Much to Celebrate

The Housing and Workforce Development Committee came out with its budget recommendation this afternoon, and it left affordable housing advocates almost completely disappointed.
The Committee recommended a $2.1 million increase in funding for the Home Purchase Assistance Program, which provides loans for low-income families to buy houses. And they kicked in $500,000 for foreclosure prevention housing [...]