The DCHFA has launched a program to assist affordable housing providers who are struggling financially.
Known as the Portfolio Stabilization Grant, this initiative provides accessible capital to help alleviate the impact of rental delinquencies, which have become a major issue in many communities. The grant is specifically available for properties that have been financed through established programs such as the Housing Production Trust Fund, Low Income Housing Tax Credit, and Community Development Block Grant.
Priority will be given to properties that are deemed most at risk. Once awarded, grant funds must be used towards stabilizing operations and essential capital expenses.
According to Christopher E. Donald, Executive Director and CEO of DCHFA: “We closely monitor our portfolio’s health and recognize that numerous affordable housing communities are facing financial challenges. Through the Portfolio Stabilization Grant program, we aim to provide resources for these providers so they can stabilize their operations and reduce operational stress.”
