Mayor Muriel Bowser is calling for an unprecedented $500M of funding for D.C.’s main affordable housing financing vehicle, part of a broader push to meet her long-term housing production goals.
The mayor Wednesday announced the new funding level for the Housing Production Trust Fund in her proposed Fiscal Year 2023 budget, doubling the record level of $250M from Fiscal Year 2022.
During a hearing with the D.C. Council on Wednesday to present her budget, Bowser acknowledged the need for housing at all income levels was “mammoth,” but said that the Housing Production Trust Fund has proven to be an effective way of addressing the need in particular for affordable housing.
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