| Page 2 of 2 < |
Green Summer Youth Program to Employ 800; Commission Allowed to Raise Cab Fares 5%; $33 Million Allocated for Jobs, Housing
|
TOOLBOX
   Resize
COMMENT
 Discussion Policy
 CLOSE
Comments that include profanity or personal attacks or other inappropriate comments or material will be removed from the site. Additionally, entries that are unsigned or contain "signatures" by someone other than the actual author will be removed. Finally, we will take steps to block users who violate any of our posting standards, terms of use or privacy policies or any other policies governing this site. Please review the full rules governing commentaries and discussions. You are fully responsible for the content that you post.
Who's Blogging  |
-- Associated Press
STIMULUS FUNDS
$33 Million for Jobs, Affordable Housing
The District received $33.7 million in stimulus funding from the federal government as part of the Obama administration's latest effort to increase the availability of affordable housing and create jobs across the country, the Treasury Department said yesterday.
The stimulus money was allocated to the District in February, when the stimulus package was passed by Congress. The funding is part of a Treasury program that set aside $3 billion of the stimulus package for affordable housing. Under the program, the city will get cash grants to replace the tax credits it otherwise would be issuing to developers to build the units.
Gentrification has consumed much of the city's affordable housing stock in recent years, pricing many low-income residents out of the market.
Advocates say the stimulus money could be a boon to the city's affordable housing market because, while the overall real-estate market has stalled, the city would now have more leverage to invest in more low-income housing.
-- Martin Ricard
