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Hundreds of Washington, DC residents are expected to be able to stay in their homes, thanks to DC’s new $11 million Housing Stabilization Grants program. City First Enterprises (CFE)’s Social Equity Investments team is honored to partner with DC Mayor Muriel Bowser and Deputy Mayor for Planning and Economic Development John Falcicchio on managing this significant investment. It brings the total of CFE-managed grant funds to a powerful $100 million – across more than 3,000 small businesses and housing providers – and all in support of inclusive financial relief.
This new program closes the gap on rental delinquencies that previous rounds of COVID-relief assistance have not yet addressed. It focuses on affordable housing providers in DC’s portfolio of income-restricted affordable housing projects, as well as housing providers that own 20 units or fewer and don’t receive public subsidy, a two-pronged strategy that is aligned with both DC and CFE’s commitment to an equitable COVID recovery.
The application opened on September 12 and closes on September 30, 2022. In order to receive funds, applicants must absolve tenants of rent, fees, penalties, and interest accrued from October 1, 2021 through August 31, 2022.
This latest COVID-relief grant program follows a similar program that CFE helped manage on behalf of DC government in December 2020. Grantees from that program can still qualify for this one, with applicants receiving up to $2,500/month for each unit.
Interested housing providers can learn more here about the program and application. Tenants should visit the DC government’s rental assistance webpage for information about programs to which they can apply directly for rent relief.
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