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Mayor Bowser to Highlight the Devastating Impact of the Tax Reform Bill on Affordable Housing

Tuesday, November 14, 2017
Bowser Continues to Call on Congress to Preserve Units like Archer Park in Southeast, Which Would Not Exist Under Prosed Rules

(WASHINGTON, DC) – On Wednesday, November 15, at 11:30 am, Mayor Muriel Bowser will highlight a marquee affordable housing effort, which would not be possible should H.R.1 – a federal tax reform bill that will affect affordable housing units – pass. At the ribbon-cutting ceremony for Archer Park Apartments, located in Congress Heights, this new 190-unit housing development will include 182 affordable rental units for households at or below 60 percent of the area median income (AMI), and eight permanent supportive housing units for formerly homeless families. 
On Monday, Mayor Bowser was joined by regional leaders to call on Congress to preserve the State and Local Tax Exemption (SALT) deductions, Private Activity Bonds (PABs), and critical tax credits such as the Low-Income Housing Tax Credit. H.R.1 would eliminate PABs and, in DC, the elimination of PABs would particularly affect affordable housing opportunities for veterans and families. Since Fiscal Year 2010, PABs have funded more than 9,000 affordable housing units in the District and leveraged an additional $650 million in private equity. 
 
WHEN:
Wednesday, November 15, at 11:30 am
 
WHO:
Mayor Muriel Bowser
Councilmember Trayon White, Ward 8
Councilmember Anita Bonds, At-Large
Polly Donaldson, Director, Department of Housing and Community Development 
Todd Lee, Director, Housing Finance Agency 
 
WHERE:
Archer Park Apartments
1200 Mississippi Avenue, SE
*Closest Metro: Congress Heights Metro Station*
*Bus Lines: W2, W3*

 
Press interested in attending the event are asked to RSVP to [email protected]. To view the event online, visit mayor.dc.gov/live or tune in on Channel 16.