Press Releases February 11, 2002 Deputy Mayor Releases First Quarter Housing Pipeline Report The District helped finance 1,657 units worth $156 million in development costs. (Washington, DC) District agencies helped finance 1,657 housing units during the first quarter of fiscal year 2002. The Department of Housing and Community Development provided $13.6 million to 14 projects and the Housing Finance Agency provided $55.2 million of debt financing to five projects. These public investments helped leverage more than $156 million in total development costs. The 1,657 housing units will be available to low- and moderate-income families. 40 percent (669 units) will be available to low-income families who earn less than 50 percent of the area median income ($42,000 a year for a family of four). 42 percent (688 units) will be available to moderate-income families who earn between 51 percent and 60 percent of the area median income ($51,360 a year for a family of four). More than 90 percent (1,542 units) will be rental accommodations. Since fiscal year 1999, the Williams Administration helped finance almost 9,000 units of affordable housing, including the units financed in the first quarter of fiscal year 2002. Since the Williams Administration took office, the agencies have steadily increased their production. In FY 1999 1,547 units were financed In FY 2000 1,951 units were financed In FY 2001 3,784 units were financed The District will be working to close the financing on the additional 3,000 units still pending in its pipelines. In addition to this new housing production, the District's Housing Authority operates more than 9,000 units of public housing and administers 8,000 Section 8 certificates and vouchers. The private sector is building approximately 8,000 units of unsubsidized housing throughout the city. First Quarter Report For more information on specific projects, please contact the Public Information Officer at the Department of Housing and Community Development (202) 442-7200, at the Housing Finance Agency (202) 777-1600, or at the District of Columbia Housing Authority (202) 535-1500.