Activists Want Millions More To Help Tenants Buy Their Buildings | WAMU 88.5 - American University Radio

: News

Filed Under:

Activists Want Millions More To Help Tenants Buy Their Buildings

Play associated audio

By Jessica Gould

Affordable housing advocates in D.C. want to see the city dedicate more funds to help low income tenants stay in their homes.

Farah Fosse is a director of the affordable housing program at the Latino Economic Development Corporation. She says one of the best ways to preserve affordable housing in D.C. is for tenants to purchase their buildings with loans from the city’s Housing Production Trust Fund.

"The buildings that are purchased as co-ops are affordable for at least 40 years. Some are put into a permanent housing trust so that they are affordable in perpetuity," says Fosse.

But she says the trust fund, which is tied to a tax on real estate sales, has diminished during the economic downturn.

"The catch is that now that we’re in bad economic times, there’s actually a bigger opportunity for tenants to negotiate good prices to be able to purchase their buildings. But there’s less money to actually buy them," she says.

That's why, she says, her group is calling on the city to create a dedicated, local source of funding from its annual budget.

WAMU 88.5

Art Beat With Lauren Landau, July 30

You can keep things old school with a classic musical and an exhibit featuring watercolor paintings from the 1800s.

NPR

Farming The Bluefin Tuna, Tiger Of The Ocean, Is Not Without A Price

Scientists are trying to raise prized bluefin tuna completely in captivity. An experiment at a Baltimore college is the first successful attempt in North America.
NPR

Senate's Highway Trust Fund Bill Sets Up Conflict With The House

A short-term fix for the nearly empty Highway Trust Fund is a step closer to President Obama's desk. Congress has been talking about the long-term problems with the construction account, but the two chambers have not agreed on a long-term solution.
NPR

OkCupid Sometimes Messes A Bit With Love, In The Name Of Science

OkCupid, the online dating site, disclosed Monday that they sometimes manipulate their users' profiles for experiments.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.