(Washington, DC) - The Department of Housing and Community Development (DHCD) announced it is seeking public comment regarding guidelines for the First Right Purchase Assistance Program.
The Department drafted the guidelines after receiving a request from stakeholders, anti-displacement counselors, housing counselors, and intermediary lenders for greater structure to the program.
“We’ve undertaken this process with housing counselors, anti-displacement counselors and lenders,” said Leila Finucane Edmonds, DHCD’s director. “Up to this point we’ve held four stakeholder meetings with representatives for tenants and lenders to discuss and review a course of action to better serve low-income residents who seek to optimize their first right to purchase their home.”
Edmonds said the agency hopes the new guidelines will provide structure through which lenders, tenants and tenant advocates can bring forward sustainable tenant purchase deals.
The public can submit comments up until November 24, 2008 to tenant.purchase@dc.gov.