Washington, D.C.’s Council has approved a new $10 million affordable housing preservation fund, and The Washington Post reports that whoever is hired to manage it will play a role in shaping the effort to preserve, acquire and rehabilitate the city’s existing affordable housing stock.
“The fund is an important step toward saving D.C.’s disappearing low-cost housing,” Claire Zippel, a housing policy analyst at the DC Fiscal Policy Institute, told the Post.
According to the city’s Department of Housing and Community Development (DHCD), the city lost at least 1,000 units of subsidized housing between 2006 and 2014. A further 13,700 units have subsidies that will expire in 2020 and are at risk of loss.
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BY OSCAR PERRY ABELLO | NOVEMBER 27, 2017