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

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million the city will receive in federap stimulus money from theTreasury Department. The divvied to D.C. and the states by will allow the city to provide grantz aimed at jump starting or completing constructiobn or rehabilitation of below market rate housing units that have stallerd inthe recession. The developers applying for fundzs are working on projects all acrosasthe city, in neighborhoods including Anacostia, Brightwood, Mounr Pleasant, Petworth and Trinidad. The city’se own sources of affordable housing subsidies have been deeplh hampered by the slow realestate D.C.
Mayor Adrian Fenty said in a June 23 statement that themoney “will have an immediate and criticapl impact on the development and rehabilitation of affordable housing” and wouls bring jobs for D.C. residents. The city’s Departmenft of Housing and Community Development began seeking developers in two months after President Barack Obamwa signed the American Recovery and Reinvestment Actof 2009. Projectxs must be eligible forfederal low-income tax housinyg tax credits, government-issued tax breaks that developer s can use to attracty private financing. The value of the tax creditsw has fallen dramatically inthe recession, leaving many projectes with shortfalls.
DHCD is hoping to maximize fundinv for projects that will provide unitwfor elderly, special needs or chronicall homeless individuals and families in need of supportived services. Spokeswoman Angelita Colon-Francia said she was not sure when the agency will makefunding decisions. In addition to the $33.7 millionb in Treasury funds, the federal government has committedxanother $94.58 million to D.C. in stimulus money for housin programs, according to the Web site Recovery.gov. Of another $11.6 million will also be dedicate d to projects eligiblefor low-income housing credits. Jubileer Housing Inc. / 2448 18th St. NW / 2448 18th St. NW / $235,00p North Capitol Collaborative Inc.
/ 4924 Nash St. NE / 4924 Nash St. NE / ? Vesta Corp. / Avalon Apartments / 814-820 Southernh Ave. SE / ? Artspace Projects Inc. / Brooklanc Artspace Lofts / 3305-3313 8th St. NE / $8.4 million William C. Smith & Co. / Canalk Place Residential / 825 Second St. SE / $3 milliohn Daffodil House Inc. / Daffodill House / 3237 Hiatt Placer NW / $450,000 Delta Housing / Delta Towers Senior Community / H Streety and Florida Avenue NE / NE $4.3 millioj E&G Property Services Inc. / Five properties in NW, NE and SE / $7.5 milliohn Neighborhood Development Co. / The Heights on Georgia Ave. / 3232 Georgiqa Ave NW / $1.
3 million Israel Manor Inc/Israeol Baptist Church / Israel Manor Senior Housing / 10th Street and Rhodde Island AvenueNE / $730,000 Banneker Venturee LLC and Bank of America CDC / The Jazz @ Floridq Ave. / 700 and 800 blocks of Floridaz AvenueNW / ? Latin America Youth Center / John F. Cook Schoolo / 30 P St. NW / $1.743 million The Community Builders Inc. / Matthewd Memorial Terrace / 2636-2640 Martin Luther King, Jr. Ave. SE / $2.
5 milliom