Press Release Monday, April 2, 2001 Mayor Williams Unveils New Housing Initiative (Washington, DC) - On April 2, 2001, Mayor Anthony A. Williams unveiled his housing initiative and a bill, entitled The Housing Preservation, Rehabilitation, and Production Omnibus Amendment Act of 2001. The housing initiative protects existing affordable housing, reduces displacement, converts vacant and dilapidated buildings into new housing, and promotes new housing for people of all incomes. The revival of the city's housing market has put pressures on residents searching for affordable housing, developers planning to construct new affordable housing units, and homeowners experiencing property tax increases. The omnibus housing bill supports the Mayor's overall housing initiative, which recognizes the city's tight housing market and expands the city's existing commitment to creating and maintaining affordable housing. "The cornerstone of safe, stable neighborhoods is good housing. As our economy continues to prosper, we must make sure we have decent housing available in all our neighborhoods," said Mayor Williams. The centerpiece of the Mayor's housing initiative is the omnibus housing legislation. The bill improves existing homeownership programs, creates new funding streams for affordable housing preservation and production, provides greater protection against displacement, and offers new incentives for homebuyers and developers to build and rehabilitate housing. At the news event, held at District's Housing Finance Agency, the Mayor also announced HFA's commitment to offer $24 million in low-cost mortgages to low- and moderate-income families. "We are excited to provide these very low mortgage loan rates to prospective homebuyers in the city," said Zoreana Barnes, Acting Executive Director of the Housing Finance Agency. Invited participants included Deputy Mayor Eric Price; Councilmember Harold Brazil; Councilmember Sharon Ambrose; Councilmember Jim Graham; Milton J. Bailey, Director, DHCD; Zoreana Barnes, Acting Executive Director, HFA; Charles Jones, Chief Program Officer of the Washington, DC Partnership Office, Fannie Mae; Loretta Tate, President and CEO, Marshall Height Community Development Organization, and other District officials. Click here for the Mayor's Omnibus Housing Bill.* Click here for Analysis of the Mayor's Housing Initiative.* Click here for a title-by-title summary of the Mayor's Omnibus Housing Bill.* * This document is presented in Portable Document Format (PDF). A PDF reader is required for viewing. Download a PDF Reader or Learn More About PDFs