Bill > B26-0597

Introduced Session

A BILL IN THE COUNCIL OF THE DISTRICT OF COLUMBIA To establish the Housing Opportunity Fund ("Fund") for the production, preservation, and rehabilitation of affordable housing in the District of Columbia and to establish dedicated revenue sources for the Fund, to establish sub-accounts of the Housing Opportunity Fund for specific purposes, to set parameters for the initial apportionment of monies between sub-accounts, to authorize reallocation of funds between sub-accounts and define restricted reprogrammings, to require an annual audit of the Fund and regular audit of the application and selection process, to direct the Chief Financial Officer to commission a report on developer and bond fees, to establish limits and terms on the use of the Fund for stabilization awards, to authorize the issuance of bonds for the purposes of the Fund, to establish procedures for the application, scoring, and selection of projects for Fund awards, to establish minimum affordability periods for rental and ownership units supported by the Fund, to require a relocation and anti-displacement strategy for relevant projects, to establish the Housing Opportunity Fund Board to monitor and advise on the operations of the Fund and to review proposed fund awards that deviate from scoring methodology, and to define the purpose and allowable uses of the Housing Production Account, Affordable Housing Subsidy Account, Preservation Account, Tenant Purchase Support Account, and District Acquisition Account; to amend the District of Columbia Retirement Reform Act of 1979 to authorize the District of Columbia Retirement Board to establish goals and procedures for investment in real property in the District of Columbia with an emphasis on multifamily real estate and affordable housing; to amend § 16-1311 to include housing development in high-need areas as an authorized municipal use for condemnation proceedings; to establish the Land Purchase Partnership Program for the production or preservation of affordable housing and support of tenant purchases; to amend the District of Columbia Housing Finance Agency Act to authorize the Housing Finance Agency to establish a revolving construction loan fund; to amend the Rental Housing Conversion and Sale Act of 1980 to apply the District's Opportunity to Purchase for housing accommodations otherwise exempt from the Tenant Opportunity to Purchase Act within the first 15 years after construction; and to amend § 47-1005.03 to clarify Nonprofit Workforce Housing Properties eligibility. TABLE OF CONTENTS TITLE I. HOUSING OPPORTUNITY FUND SUBTITLE A. HOUSING OPPORTUNITY FUND Sec. 101. Short title Sec. 102. Definitions Sec. 103. Housing Opportunity Fund established Sec. 104. Fund organization Sec. 105. Apportionment of deposits and appropriations Sec. 106. Reallocations and reprogrammings Sec. 107. Regular audits; report on reasonable fees Sec. 108. Use of Fund for stabilization SUBTITLE B. GENERAL PROVISIONS Sec. 111. Bond issuance authorized Sec. 112. Project application and selection Sec. 113. Maintaining affordability Sec. 114. Anti-displacement strategy Sec. 115. Housing Opportunity Fund Board Sec. 116. Fund transparency and reporting SUBTITLE C. SUB-ACCOUNTS Sec. 121. Housing Production Account Sec. 122. Affordable Housing Subsidy Account Sec. 123. Preservation Account Sec. 124. Tenant Purchase Support Account Sec. 125. District Acquisition Account SUBTITLE D. MISCELLANEOUS PROVISIONS Sec. 131. Conforming Amendments Sec. 132. Transfers; continuation TITLE II. HOUSING PRODUCTION Sec. 201. Retirement fund real property investment Sec. 202. Condemnation authority for housing development Sec. 203. Land Purchase Partnership Program Sec. 204. Revolving public construction loan fund for affordable housing Sec. 205. District opportunity to purchase certain properties Sec. 206. Nonprofit Workforce Housing Properties eligibility clarification TITLE III. STANDARD PROVISIONS Sec. 301. Rulemaking Sec. 302. Applicability Sec. 303. Fiscal impact statement Sec. 304 Effective date

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Charles Allen (D)*,  Janeese George (D)*,  Brianne Nadeau (D)*,  Robert White (D)*, 

Public Hearing Held (on 03/30/2026)

Official Document