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DCHFA Offers Resources to Distressed Affordable Housing Providers
The District of Columbia Housing Finance Agency (DCHFA) has initiated a program aimed at supporting affordable housing providers facing financial challenges.
The Portfolio Stabilization Grant is designed to offer accessible capital aimed at alleviating the burden caused by rental delinquencies, which have become a significant issue in many communities. The Portfolio Stabilization Grant is a recoverable grant meant specifically for properties financed through established programs such as the Housing Production Trust Fund, Low Income Housing Tax Credit, and the Community Development Block Grant, among others.
The program prioritizes properties that are identified as the most vulnerable. Grant funding, once secured, must be allocated specifically for stabilizing operations and essential capital expenditures.
“DCHFA consistently monitors the health of its portfolio, and we are aware that a number of affordable housing communities are facing financial distress,” said Christopher E. Donald, DCHFA’s Executive Director and CEO. “Through the Portfolio Stabilization Grant, we are providing a resource to help providers stabilize and alleviate operational stress.”
