(Washington, DC) - Mayor Adrian M. Fenty, Deputy Mayor for Planning and Economic Development Neil O. Albert, and Department of Housing and Community Development (DHCD) Interim Director Victor L. Selman announce the selection of 23 projects for underwriting. The selected candidates will now move to the underwriting stage of the funding process. Of the selected projects, many will complete the underwriting process and receive letters of funding commitment. Should all of the projects go to closing, they would yield approximately 1,300 units of affordable housing and 2 community facilities for the benefit of low and moderate income households of the District.
“These projects will allow the District to not only preserve existing affordable housing, but will offer quality, affordable rental housing and home ownership opportunities to the District’s lower income residents,” said Mayor Fenty. “These selected projects will fill needs for special needs housing, rental housing, homeownership opportunities and supportive community facilities throughout the city.”
DHCD issues two Requests for Proposals (RFPs) each fiscal year. The first RFP for Fiscal Year 2007 was issued on September 15, 2006 and announced the availability of $45 million in funding to assist in the development of affordable housing and community facilities. The funding sources for this RFP included the Community Development Block Grant (CDBG) program, the Home Investment Partnerships (HOME) program, the Housing Production Trust Fund (HPTF), and the Low Income Housing Tax Credits (LIHTC) program. Applications were due to DHCD on November 17, 2006.