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What’s in the FY 2021 Approved Budget for Affordable Housing?

Monday, September 14, 2020

Affordable housing is key to providing long-term safety and stability, particularly for low-income communities and Black and brown communities facing the greatest housing challenges in the District. Deep structural inequities shape social determinants of health—the physical, social, and economic conditions in which we are born, live, and work…

Modest Investments in Affordable Housing Production and Preservation

HOUSING PRODUCTION TRUST FUND

The Housing Production Trust Fund (HPTF) is DC’s primary tool for building and preserving affordable housing. Last year, the FY 2020 approved budget included an $115.6 million investment in the HPTF—its first increase since FY 2015. But the supplemental budget cut the FY 2020 increase to $100 million and the FY 2021 approved budget allocated $100 million to HPTF. The FY 2021 allocation includes $73.5 million in dedicated taxes and $26.5 million in other local dollars, which includes a $9 million investment that the Council added to ensure that HPTF funding levels matched previous years’ investments.

DC Fiscal Policy Institute/Doni Crawford and Eliana Golding

 

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