Photo Credit: Dan Reed

An Enterprise press release issued last week announced a $5 million, three-year commitment to help expand access to economic opportunity for local residents and small business owners along the 16-mile Purple Line light rail corridor in the Greater Washington region. It reads:

The Purple Line project in Maryland’s Prince George’s and Montgomery Counties will provide more efficient transit and spark redevelopment around its 21 stations. As part of the JPMorgan Chase’s $25 million, five-year commitment to the Greater Washington region, from Northern Virginia to Baltimore, this new investment will create and preserve affordable housing and support small businesses along the transportation corridor.

Specifically, it will allow community organizations Enterprise Community Partners, the National Housing Trust and Latino Economic Development Center, with support provided by Enterprise Community Loan Fund, to provide targeted loan capital and resources for projects related to high-quality affordable housing and small business expansion. With this investment, the collaborative, called Purple Line Equitable Transit-Oriented Development, seeks to: 

• Create a framework to preserve/create 1,000 affordable homes and help attract new investments;
• Support more than 200 small businesses with small business loans totaling $900,000 and customized bilingual technical assistance, resulting in 300 jobs preserved/created;
• Pursue the goals of the Purple Line Corridor Coalition (PLCC), a group of public-private-community leaders – led by the University of Maryland’s National Center for Smart Growth (NCSG) with community organizations, state and local governments, nonprofits, philanthropies and businesses such as Kaiser Permanente – with a collective vision and action strategy for vibrant economic and community development along the corridor.

HAND congratulates all of our members and partners involved! Read the full press release here.

The District of Columbia Housing Finance Agency’s (DCHFA) issuer credit rating was raised to “A+” with a “stable” outlook, according to Standard and Poor’s (S&P) Global Ratings.

“The stable outlook reflects our view of a combination of DCHFA’s high profitability and equity ratios relative to those of peers, and its relatively new but experienced management and strategic initiatives,” wrote Aulii T. Limtiaco, S&P Credit Analyst.

Under the leadership of Todd A. Lee since 2016, DCHFA has undergone several changes to include the launch of new programs like the Housing Investment Platform (HIP), the DC Mortgage Assistance Program (DC MAP) and the Reverse Mortgage Insurance & Tax Payment Program (ReMIT), the addition of a Chief Operating Officer to the staff, and a rebranding among other innovations to improve the Agency’s day-to-day functions.  Lee’s leadership, there has been over $1 billion invested in the creation and preservation of affordable multifamily rental and workforce housing units in addition to supporting homeownership all over the city.

DCHFA is celebrating its 40^th year of service to District residents in 2019. The Agency aims to provide the most effective, innovative and efficient solutions to affordable housing in the District. The Agency aims to continue investing in affordable housing and neighborhood development as a way to provide pathways for D.C. residents to transform their lives for many years to come.

DEADLINE EXTENDED TO NOVEMBER 15!
The DCSEU is accepting applications for the FY 2020 Income Qualified Efficiency Fund. The fund allows owners and managers of affordable housing, clinics, and shelters, as well as contractors working on projects at these buildings, to apply for funding from the DCSEU for energy efficiency projects. The deadline for applications has been extended to November 15, 2019. For more information, please contact the DCSEU at 202-479-2222 or incomequalified@dcseu.com.

The DCSEU has no-cost technical assistance, financial incentives, and training opportunities available for DC affordable housing developers, building owners, and property managers:

• The DCSEU’s Income-Qualified Efficiency Fund recently opened its application process for FY 2020. If you own or operate a multifamily property, shelter, or clinic that serves low- to moderate-income District residents and are making upgrades to your building, find out more about financial incentives available from the DCSEU for your projects.
• The DCSEU has rebates available when you upgrade to more energy-efficient equipment in your building. Find out more about rebates available for lighting and HVAC equipment.
• DC-based Contractors and maintenance staff can join the DCSEU for a free class on Energy Efficiency Best Practices for Contractors on September 4^th and 5^th. The class will cover HVAC and lighting, focusing on critical topics such as heating, cooling, water heating, lighting fixtures, controls, and more. Contact the DCSEU at 202-479-2222 or incomequalified@dcseu.com to find out more and sign up.

For more information on how the DCSEU can help you, call 202-479-2222 or e-mail incomequalified@dcseu.com.