The funds would assist with construction, renovation and/or emergency maintenance. They’d be generated by bond sales — up to $1 billion over 10 years, backed by revenues from the DC lottery and other games.
The annual $100 million would be split equally among housing for seniors, homeless people, households with annual earnings between $30,000 and $60,000 and four-person households defined as low-income, based on the area median. These would currently be households with incomes up to $68,500.
The Department of Housing and Community Development is to develop a 10-year plan to implement all this, including specified details for each proposed project. Obviously extremely complex — if for no other reason, because of the overlaps among the target groups.
The Council’s Economic Development Committee will consider the Orange bill, as well as the Bowser bill I wrote about at its hearing this Thursday.