Mayor Bowser Announces $12 Million Federal Investment in the District’s Resilient Housing for All Loan Fund

(Washington, DC) - Today, Mayor Muriel Bowser announced that through the Safeguarding Tomorrow through Ongoing Risk Mitigation Act (STORM Act), the District's Homeland Security and Emergency Management Agency (HSEMA) will receive $12 million in FEMA funding to support the Resilient Housing for All loan fund, in partnership with the Department of Housing and Community Development (DHCD), Housing Production Trust Fund (HPTF), and the DC Green Bank (DCGB). Through this revolving loan fund, the District will be able to offer 1% interest loans aimed at projects that build resilience in affordable housing, supporting the District's goal of increasing affordable housing options for residents.

"We are grateful to the Biden-Harris Administration for making investments like these that support our work to build more resilient communities," said Mayor Bowser. "We have seen, in communities across our country, that the impacts of climate change must be taken seriously, and these investments in more resilient housing are a critical investment in our collective future."

The Resilient Housing for All loan fund awards low-interest loans to eligible, affordable housing developers to integrate resilient design principles into new affordable housing developments or for substantial rehabilitation projects that reduce risks from natural hazards and disasters. These projects may include building or site improvements, like structural floodproofing or drainage improvements, and will improve the resilience of disadvantaged communities across the District. The program will also help preserve the existing supply of affordable housing and further the development of affordable housing services to DC residents.

"The severe weather events we are experiencing in the District are a direct impact of climate change," said Clint Osborn, Director of the DC Homeland Security and Emergency Management Agency. "This past year, we experienced the northern hemisphere's hottest year on record, air quality challenges as a result of wildfires, and severe microbursts bringing damaging winds and severe flash flooding to the District. Generational investments, like the Resilient Housing for All Loan Fund, are critical to reduce future risk and reduce the impacts from climate change."

By supporting resilience projects at affordable housing developments, Resilient Housing for All will increase equitable access to resilience-related funding, protect vulnerable residents and ensure the longevity of developments in the face of changing climate conditions.

"This partnership embodies the collaborative effort it takes to bring together numerous financial resources to fund affordable housing projects," said DHCD Director Colleen Green. "This new resource gives us an additional tool to help produce and preserve affordable housing with the added benefit of addressing the impact of climate change."

The Resilient Housing for All funds will support the development of approximately 851 affordable housing units. Additionally, the funds will support the production and preservation of affordable units across the District and provide funding opportunities to applicants that are not eligible for other FEMA HMA grant programs. Funds will be administered by DHCD, which will dispense loan funds to the DC Green Bank for issuance to selected entities. Loans are anticipated to be paid off within 18 years of their issuance by the DC Green Bank, which will work with housing developers and DHCD to ensure loan repayment.

As of July 2024, $3.1 billion in public investments in clean energy, infrastructure and manufacturing has been invested in the District of Columbia from the Biden-Harris Administration.

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