Posted by Ashley Fox on June 06, 2017 at 5:17 PM
Councilmember Elissa Silverman (I-At Large) today introduced legislation to get District funds for building and preserving affordable housing into use more quickly. The “Housing Production Trust Fund Advanced Solicitations Amendment Act of 2017” was co-introduced by eight other members: Councilmembers Anita Bonds (D-At Large), David Grosso (I-At Large), Robert White (D-At Large), Brianne Nadeau (D-Ward 1), Kenyan McDuffie (D-Ward 5), Charles Allen (D-Ward 6), Vincent Gray (D-Ward 7), and Trayon White (D-Ward 8).
The Housing Production Trust Fund is one of the most important affordable housing programs in the District, but it can take up to two years for approved projects to receive money from the Fund. Under the bill, the Department of Housing and Community Development (DHCD) would be able to request applications from developers for funding from the Housing Production Trust Fund starting one fiscal year before the money would be granted. DHCD would then be able to award the money at the start of the next fiscal year—an improvement that moves the application, funding, and building process forward more quickly and efficiently.Read more