WASHINGTON, D.C. – April 2, 2013 – (RealEstateRama) — Check out the affordable housing fund allocations included in Mayor Gray’s recent budget release! Sometimes we rally our advocacy voices and wonder if all of our time, energy and efforts are worthwhile. This week we can see the tangible results of housing funds allocated for fiscal years 2013-2014.
Permanent Fix to the Trust Fund: Mayor Gray has committed $20 million to undo the cut from the Housing Production Trust Fund that was used to pay for the Local Rent Supplement Program (LRSP). Going forward, LRSP will be funded separately, and the Trust Fund will have access to this dedicated revenue every year.
An Additional $67 Million for the Trust Fund: After years of low funding in the Housing Production Trust Fund, the Fund is getting a one-time boost of $67 million to support the production and preservation of affordable housing for low-t0-moderate income residents.
Operating Subsidies to Develop Supportive Housing: Mayor Gray committed at least $3 million to the Local Rent Supplement Program for building project and sponsor based units to serve very low income residents and residents with severe barriers to stable housing.
Additional Investment in HPAP: The Home Purchase Assistance Program will receive an additional $1 million to make homeownership possible for more District residents.
*Above stats taken from CNHED’s website. Click here to see more of the article.
Manna, Inc. is encouraged by the renewed commitment to HPAP since we anticipated cuts to this essential program! We know HPAP has assisted over 13,000 DC residents move out of systems of dependency and ongoing subsidy, and currently generates $2 million in repayment every year. We will continue to work with CNHED and keep you updated on our next steps as an advocacy team to support HPAP.
Such notable affordable housing budget decisions would not be possible without public testimonies, hours of dedication to public hearings and collective HAT members raising their voices in support!