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Listen "EP 4: Steven Lawrence- DC Department of Housing and Community Development: The Role of DHCD in Housing Development"
Episode Synopsis
In this episode of The Value Add Podcast, Eytan Goldstein sits down with Stephen Lawrence, the Associate Director of Portfolio and Asset Manager Division at DC Department of Housing and Community Development (DHCD) to explore the agency's critical role in shaping affordable housing.
They dive into DHCD's strategies for allocating Low-Income Housing Tax Credits (LIHTC) and the pivotal role of the Housing Production Trust Fund in providing gap financing for projects serving low- and moderate-income communities. Stephen sheds light on the challenges facing the affordable housing sector, including financial distress and the impact of foreclosures on affordability covenants.
The conversation also touches on the importance of preserving existing properties and the intricacies of financing affordable housing development. They also discuss navigating the capital stack, and addressing the distinct requirements for affordable versus market-rate projects.
They dive into DHCD's strategies for allocating Low-Income Housing Tax Credits (LIHTC) and the pivotal role of the Housing Production Trust Fund in providing gap financing for projects serving low- and moderate-income communities. Stephen sheds light on the challenges facing the affordable housing sector, including financial distress and the impact of foreclosures on affordability covenants.
The conversation also touches on the importance of preserving existing properties and the intricacies of financing affordable housing development. They also discuss navigating the capital stack, and addressing the distinct requirements for affordable versus market-rate projects.
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