(Washington, DC) The Department of Housing and Community Development (DHCD) is making available $35 million in local Housing Production Trust Fund monies, federal HOME Investment Partnerships Program, Community Development Block Grant funds, and Low-Income Housing Tax Credits for developers committed to creating affordable housing.
During FY 2004, DHCD utilized the Request for Proposal (RFP) process to assist in the financing of affordable rental housing and home ownership opportunities for District residents. Projects include: the highly anticipated Danbury Street SW Townhouses/Chadwick Apartments Demolition project that will produce 119 new townhouses for home ownership in the Bellevue community; 12 units of special needs housing with Green Door, an organization that rehabilitates housing for physically and mentally disabled residents; and 227 rehabilitated multi-family units at Oxford Manor Apartments developed by the tenant association and a non-profit developer.
For Fiscal Year 2005, DHCD is soliciting proposals for new construction and rehabilitation of rental and for-sale housing, the preservation of rental housing with expiring federal subsidies, elderly housing, and special needs housing. The Department supports projects that provide housing for extremely low- (less than 30 percent of area median income), very low- (between 30 and 60 percent of area median income), and low-income (less than 80 percent of area median income) families. DHCD will also provide limited financing for the development of community facilities that serve low-and moderate-income residents. DHCD anticipates that FY 2005 funding will produce approximately 1,000 units of housing and leverage over $150 million in private and public resources.
