D.C. Housing Authority Plans to Refinance Thousands of Homes
The D.C. Housing Authority (DCHA) released has a plan that would refinance 2,400 homes in the city. "Tyrone Garrett, the head of DCHA, said that within the next two months, the authority will propose a 'comprehensive portfolio repositioning plan' to the public and DCHA’s Board of Commissioners,” Andrew Giambrone reports for Curbed.
Cuts to the federal budget have caused challenges to the authority and it needs funding for maintenance and repairs. "[Garrett] said it needs more than $1.3 billion to keep dozens of properties 'viable' over 20 years, but does not have it. So DCHA is examining what it called in its release 'innovative financing approaches' to renovate its units," Giambrone writes.