Washington, D.C.’s Disposition of District Land for Affordable Housing Amendment Act of 2014 (PDF) requires that all new multifamily residential developments on city-owned surplus land include at least 20 to 30 percent affordable housing. The exact level of affordability depends on the site’s location; the percentage rises to 30 percent for sites within a half-mile of a Metrorail station, within one-quarter mile of a streetcar line or within one-quarter mile of a Priority Corridor Network Metrobus Route.
The law allows for property to be transferred at less than the appraised value, and the city may provide additional subsidies to ensure that affordability requirements are met.
The mayor may waive or reduce the affordability requirements as necessary, but only under certain circumstances, such as the appraised value of the site being insufficient to support affordable housing in light of all other available sources of public funding for supporting the affordable housing component, or the disposition of the property enabling the financing of a “significant public facility.”
Half of for-sale affordable homes must be affordable to households earning less than 50 percent of area median income (AMI) and half to households earning up to 80 percent of AMI. One-quarter of the rental affordable homes must be affordable for households at 30 percent of AMI, and three-quarters for households at 50 percent of AMI.
For More Info:
Andrew Trueblood, Office of the Deputy Mayor for Planning and Economic Development
Email: [email protected]