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Council committee hears nominees for Housing Production Trust Fund advisory board
Summary
Nominees Stephen Glaude and Stacy Berenbach told the Committee on Housing the HPTF should prioritize preservation, stabilization and flexible capital use amid rising costs and aging affordable stock. Committee members pressed on funding scale, interim financing for small owners and evaluation of recent stabilization rounds.
Chair Robert White convened the Committee on Housing’s Jan. 15 roundtable to consider mayoral nominations to the Housing Production Trust Fund advisory board, the DC Housing Finance Agency and the Mayor’s Office on Returning Citizens Affairs. He said the HPTF is “one of the district's most important tools for supporting affordable housing,” and invited nominees to describe how they would guide use of the fund if confirmed.
Stephen Glaude, president and CEO of Coalition DC, and Stacy Berenbach, Vice President of Real Estate at Enterprise Community Development, emphasized that preservation and stabilization must sit alongside new production. Glaude described a recent small-building initiative aimed at 5–49 unit properties and urged targeted interim financing to help owner-occupants maintain older buildings. “We really need to focus on preservation, and part of that preservation includes providing some financial, some interim financing and repair assistance support to these 5 to 49 unit buildings,” Glaude said.
Members pressed nominees on tools to lower per-unit costs and where capital might be found; nominees recommended portfolio-level analysis and pooled long-term capital that combines public funds with lower-cost private capital to close gaps. Berenbach said the trust fund is critically important for stabilizing properties and recommended either dedicating stabilization resources within the trust fund or creating a separate stabilization pool. The committee also discussed recent use of trust funds for stabilization after the pandemic and asked agencies to deliver more data and clearer metrics to measure program outcomes.
The committee did not vote on confirmations at this hearing; the record for written testimony remains open until Jan. 29.
