Polly Donaldson, Director, Department of Housing and Community Development (DHCD), announces a new program under the Great Spaces, Healthy Places Initiative for multi-family property owners with fewer than 50 units with an active Inspection Report from the Department of Consumer and Regulatory Affairs. The small, multi-family loan program provides up to $250,000 ($10,000 per unit) for limited systems replacement and other key repairs to improve sub-standard housing conditions, including safety and environmental hazards in the District.
HOUSING PRODUCTION TRUST FUND (HPTF)
The program will be financed with the local HPTF program. Units rehabbed must be affordable to low- to moderate-income households who earn at or below 80% of the area median income (AMI). Units financed through HPTF are subject to a 40-year affordability covenant that restricts the maximum allowable rents based upon unit size and income level served