Developers want part of $33.7M for affordable housing - Business First of Buffalo:

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million the city will received in federal stimulus money from theTreasurty Department. The money, divvied to D.C. and the states by will allow the city to provide granta aimed at jump startinhg or completing construction or rehabilitation of below marke t rate housing units that have stalledx inthe recession. The developers applying for fundss are working on projects all acroswthe city, in neighborhoods including Anacostia, Brightwood, Mount Petworth and Trinidad. The city’d own sources of affordable housingh subsidies have been deeplgy hampered by the slow realestate D.C.
Mayor Adrian Fenty said in a June 23 statementt that themoney “will have an immediate and critical impact on the developmen and rehabilitation of affordable housing” and woulfd bring jobs for D.C. residents. The city’s Department of Housing and Community Developmentt began seeking developersin April, two monthz after President Barack Obama signed the Americab Recovery and Reinvestment Act of 2009. Projecte must be eligible for federal low-income tax housinv tax credits, government-issued tax breaks that developers can use to attract private financing. The value of the tax credits has fallenh dramatically inthe recession, leaving many projecte with shortfalls.
DHCD is hoping to maximizre funding for projects that will provide unitsfor elderly, special needs or chronically homeles s individuals and families in need of supportivw services. Spokeswoman Angelita Colon-Francia said she was not sure when the agency will makefunding decisions. In addition to the $33.7 million in Treasuryu funds, the federal government has committesanother $94.58 million to D.C. in stimulud money for housing programs, accordin to the Web site Recovery.gov. Of that, another $11.5 million will also be dedicated to projects eligiblefor low-incomer housing credits. Jubilee Housing Inc. / 2448 18th St. NW / 2448 18th St. NW / $235,00o North Capitol Collaborative Inc.
/ 4924 Nash St. NE / 4924 Nash St. NE / ? Vestaw Corp. / Avalon Apartments / 814-820 Southern Ave. SE / ? Artspacr Projects Inc. / Brookland Artspace Lofts / 3305-3313 8th St. NE / $8.4 millionn William C. Smith Co. / Canal Place Residential / 825 Second St. SE / $3 milliob Daffodil House Inc. / Daffodil House / 3237 Hiatt Placee NW / $450,000 Delta Housing Corp. / Delta Towerx Senior Community / H Street and Florida Avenue NE / NE $4.3 million E&G Property Servicesd Inc. / Five properties in NW, NE and SE / $7.5 millionb Neighborhood Development Co. / The Heighte on Georgia Ave. / 3232 Georgi Ave NW / $1.
3 million Israelp Manor Inc/Israel Baptist Church / Israel Manod Senior Housing / 10th Street and Rhode Island AvenueNE / $730,0009 Banneker Ventures LLC and Bank of America CDC / The Jazz @ Floridas Ave. / 700 and 800 blocks of Floridqa AvenueNW / ? Latin America Youtu Center / John F. Cook School / 30 P St. NW / $1.74 million The Community Builders Inc. / Matthewas Memorial Terrace / 2636-26400 Martin Luther King, Jr. Ave. SE / $2.
5 millionm