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Public Comment Period Begins on DHCD Section 108 Application for Loan Fund

Thursday, November 5, 2020
Federal Loan Program Offers Financing for Preservation of Affordable Housing

The District of Columbia’s (“the District” or “D.C.”) Department of Housing and Community Development (“DHCD”) is applying for a Section 108 loan guarantee (“Section 108”) for $38,800,000 to create a loan fund that will provide third party loans for the preservation of housing for households earning up to 80% of the area median family income (“AMI” or “MFI”).

A draft of the application has been published on our website and is available at dhcd.dc.gov/publication/section-108-application-loan-fund.

Residents and stakeholders are strongly encouraged to provide input on this Section 108 application. The public comment period is from November 5 to November 12, 2020.

More about Section 108:

The Section 108 Loan Guarantee Program (Section 108) provides Community Development Block Grant (CDBG) recipients with the ability to leverage their annual grant allocation to access low-cost, flexible financing for economic development, housing, public facility, and infrastructure projects. Communities can use Section 108 guaranteed loans to either finance specific projects or to launch loan funds to finance multiple projects over several years.

How to provide input:

Written statements and comments may be submitted to DHCD for the record at [email protected], until 9:00 a.m. on Thursday November 12, 2020. Written statements and comments may also be mailed to:

D.C. Department of Housing and Community Development

Attn: Polly Donaldson, Director

1800 Martin Luther King Jr. Avenue SE

Washington, DC 20020