The Coalition for Nonprofit Housing & Economic Development (CNHED), an NLIHC State Coalition Partner, and the Housing For All Campaign have achieved another important milestone in funding for Washington, DC’s Housing Production Trust Fund (HPTF). The DC Council recently voted unanimously to support at least $100 million in annual appropriations for the HPTF.
This achievement expands upon the May Housing For All Campaign budget victory when the HPTF received a total commitment of $79.3 million for FY15. The Campaign also secured a commitment for 50% of future year-end unrestricted surpluses to go to the HPTF (see Memo 7/4). Although these earlier victories were both significant, they did not acheive the Housing For All Campaign goal of securing $100 million in annual funding for the HPTF.
In order to reach this goal, the Housing For All Campaign worked with Councilmember, now Mayor-elect, Muriel Bowser to introduce Bill 20-708, the Housing Production Trust Fund Baseline Funding Amendment Act of 2014. The bill amends the Housing Production Trust Fund Act of 1988 by authorizing at least $100 million for the HPTF annually.
Following DC Council visits, town hall meetings, and direct advocacy from CNHED members and Housing For All Campaign supporters, the DC Council unanimously voted in favor of the bill on November 18. It was signed into law by Mayor Vincent Gray on December 8, 2014.
In the future, the Mayor will still need to include $100 million for the HPTF in the budget, and the DC Council will still need to approve it. The legislation serves the purpose of having Mayor-elect Bowser and DC Councilmembers on record in support of a $100 million annual appropriation. According to CNHED Executive Director Stephen Glaude, “This legislation is a major step forward in creating a predictable source of funds for preserving and developing affordable housing.”
The HTPF must serve households with income between 0-80% of area median income (AMI), with 80% of all funds dedicated to units for very low income (VLI) households (income less than 50% AMI) and 40% of all funds further targeted to extremely low income (ELI) households (income less than 30% AMI). The DC Department of Housing and Community Development (DHCD) uses the HPTF to provide grants and loans to for-profit and nonprofit developers for the construction or preservation of affordable housing. Funds can be used for rental and homeownership units. Typically, more than 50% of the funds support rental units. To date, the HPTF has funded nearly 8,600 units.
Bill 20-708 is at http://bit.ly/1x2MleM
Information about the Housing For All Campaign is at http://bit.ly/13DA5ol
For more information, contact Elizabeth Falcon, Campaign Organizer, Coalition for Nonprofit Housing & Economic Development, email@example.com.