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GOVERNMENT OF THE DISTRICT OF
COLUMBIA
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| OFFICE OF COMMUNICATIONS | ONE JUDICIARY SQUARE 441 FOURTH STREET, N.W. SUITE 1100 WASHINGTON, D.C. 20001 (202) 727-6224 |
| FOR IMMEDIATE RELEASE: MONDAY, APRIL 2, 2001 |
CONTACT: PEGGY ARMSTRONG 202-727-5011 |
(Washington, DC) - On April 2, 2001, Mayor Anthony A. Williams unveiled his housing initiative and a bill, entitled "the Housing Preservation, Rehabilitation, and Production Omnibus Amendment Act of 2001." The housing initiative in intended to protect existing affordable housing and reduce displacement, convert vacant and dilapidated buildings into new housing, and promote new housing for people of all incomes.
The revival of the city's housing market has put pressures on residents searching for affordable housing, developers planning to construct new affordable housing units, and homeowners experiencing property tax increases. The omnibus housing bill was created to support the Mayor's overall housing initiative, which recognizes the city's tight housing market and expands the city's existing commitment to creating and maintaining affordable housing.
"The cornerstone of safe, stable neighborhoods is good housing. As our economy continues to prosper, we must make sure we have decent housing available in all our neighborhoods," said Mayor Williams.
The centerpiece of the Mayor's housing initiative is the omnibus housing legislation. The bill improves existing homeownership programs, creates new funding streams for affordable housing preservation and production, provides greater protection against displacement, and offers new incentives for homebuyers and developers to build and rehabilitate housing.
At the news event, held at District's Housing Finance Agency, the Mayor announced HFA's commitment to offer $24 million in low-cost mortgages to low- and moderate-income families.
"We are excited to provide these very low mortgage loan rates to prospective homebuyers in the city," said Zoreana Barnes, Acting Executive Director of the Housing Finance Agency.
Invited participants included Deputy Mayor Eric Price; Councilmember Harold Brazil; Councilmember Sharon Ambrose; Councilmember Jim Graham; Milton J. Bailey, Director, DHCD; Zoreana Barnes, Acting Executive Director, HFA; Charles Jones, Chief Program Officer of the Washington, DC Partnership Office, Fannie Mae; Loretta Tate, President and CEO, Marshall Height Community Development Organization, and other District officials.
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