ARTICLE
6 September 2024

DHCD Issues Inclusionary Zoning Income Levels And RFP

HK
Holland & Knight

Contributor

Holland & Knight is a global law firm with nearly 2,000 lawyers in offices throughout the world. Our attorneys provide representation in litigation, business, real estate, healthcare and governmental law. Interdisciplinary practice groups and industry-based teams provide clients with access to attorneys throughout the firm, regardless of location.
The District of Columbia Department of Housing and Community Development (DHCD) issued the Inclusionary Zoning (IZ) Program 2024-2025 Maximum Income...
United States District of Columbia Real Estate and Construction

The District of Columbia Department of Housing and Community Development (DHCD) issued the Inclusionary Zoning (IZ) Program 2024-2025 Maximum Income, Rent and Purchase Price Schedule (Income and Price Schedule), which became effective upon its publication in the District of Colombia Register on Aug. 30, 2024.

The Income and Price Schedule establishes the minimum and maximum income limits for IZ rental and for-sale units at 50 percent, 60 percent and 80 percent of the Washington Metropolitan Statistical Area Median Family Income (MFI). The MFI issued by the U.S. Department of Housing and Urban Development on April 1, 2024, is $154,700 for a household of four. The Income and Price Schedule is also used for residential developments that include affordable dwelling units (ADUs) and therefore includes 30 percent, 100 percent and 120 percent MFI maximum and minimum income levels.

DHCD also issued its 2024 Consolidated Request for Proposals (RFP) for Affordable Housing Projects on Aug. 23, 2024. Projects have been divided into three categories:

  • Category A – Bridge Funding for Distressed Properties
  • Category B – Bridge Funding for Planned/Pipeline Development Projects
  • Category C – 9 percent Low-Income Housing Tax Credits (LIHTC) and DC LIHTCs

The RFP provides the specific criteria and scoring that will be used to determine funding awards, as well as the various application requirements and deadlines.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More