DHCD Financing
$35 Million Available for Targeted Affordable Housing Development In The District

Stanley Jackson, Director
DC Department of Housing and Community Development

 

The Department of Housing and Community Development (DHCD) is making available $35 million in local Housing Production Trust Fund monies, federal HOME Investment Partnerships Program, Community Development Block Grant funds, and Low-Income Housing Tax Credits for developers committed to creating affordable housing in FY 2004.

During FY 2003, DHCD utilized the Request for Proposal (RFP) process to assist in the financing of affordable rental housing and home-ownership opportunities for District residents. Some projects include: 138 units for homeownership at the George Washington Carver Apartments in the Marshall Heights community and the highly anticipated EFOULA Spanish Senior Center in Adams Morgan. DHCD anticipates that FY 2003 funding will produce 1,853 units and leverage $145 million in private and public resources.

Targeted Development
Specifically, DHCD is soliciting proposals for new construction and rehabilitation of rental and for-sale housing, the preservation of rental housing with expiring federal subsidies, elderly housing, and special needs housing. The Department supports projects that provide housing for extremely low- (less than 30 percent of area median income), very low- (between 30 and 60 percent of area median income), and low-income (less than 80 percent of area median income) families. DHCD will also provide limited financing for the development of community facilities that serve low-and moderate-income residents. DHCD provides financing to individuals and organizations interested in developing affordable housing and community facilities in the District of Columbia. DHCD will focus its funding efforts on the District’s strategic investment areas communities of:

Anacostia
Bellevue
Columbia Heights
Congress Heights
Georgia Avenue
H Street, NE
Howard University/LeDroit
Minnesota/Benning
Near Southeast
Pennsylvania Avenue/Fairlawn
Shaw
Takoma Park
Trinidad/Ivy City/Carver Terrrace
Any remaining funds will be targeted for projects in Enterprise Communities or city-wide. Funding/Project Types

Funding/Project Types

Type of Project	HPTF	CDBG/HOME	LIHTC
Elderly	$ 4 Million	$1.0 Million	$ .5 Million
Special Needs	4 Million	.5 Million	.25 Million
Preservation of Expiring Federal Subsidies	7 Million	1.5 Million	--
Rehab/New Const (Rental)	5 Million	2.0 Million	.75 Million
Homeownership	5 Million	2.0 Million	--
Community Facilities	--	1.5 Million	--
TOTAL:	$25 Million	$8.5 Million	$1.5 Million

 

Eligibility and Submissions
Non-profit organizations and for-profit developers are eligible to submit proposals. A RFP package can be obtained at DHCD, Development Finance Division, 801 North Capitol Street, NE 2nd Floor, Washington, DC 20002 or on the website at www.dhcd.dc.gov. Proposals must be submitted on or before 4:00 p.m., Thursday, July 31, 2003. Four (4) copies must be delivered to DHCD offices as stated above. DHCD is expected to announce the developers selected to go forward to the underwriting stage in early October. Questions should be directed to the RFP Hotline, 202.442.7281 or to rfpquestions@dc.gov.

.