By using private sector methods to achieve public sector purposes,
the HFA simplifies the process for affordable housing developers
to obtain low-interest rate loans through taxable and tax-exempt
bond financing. The HFA packages a variety of financial services
to fund developers’ efforts to build and rehabilitate
affordable and mixed-income housing in Washington.
During the bond financing process, the HFA’s staff
provides technical assistance on all aspects of housing development
and acts as a facilitator with city and federal agencies to
help expedite the permitting and licensing process and ensures
successful construction and rent-up of all housing developments.
To ensure affordability on all HFA-financed housing developments,
the agency requires developers to set aside at least 20% of
their units for individuals or families earning at or below
50% of the Area Median Income or at least 40% of their units
for individuals or families earning at or below 60% of Area
Median Income. Washington, D.C.’s Area Median Income
is $91,500 for a family of four.
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