D.C. Council Considers Tax Credits for CDFI Investments – NMP Skip to main content

D.C. Council Considers Tax Credits for CDFI Investments

May 18, 2017

In view of the evaporation of affordable homeownership options in the nation’s capital, the District of Columbia Council is considering a bill that would provide tax credits to individuals or companies that invest in community development financial institutions (CDFIs) involved in affordable housing finance. Under this proposal, investors would be eligible to claim up to 33 percent of their investments as a credit against their local income taxes, unincorporated business franchise taxes or corporation franchise taxes. That exemption would be capped at the $1 million mark.
 
“Solving the affordable housing crisis is not something that will occur overnight and is not something that can be accomplished by any one entity or organization,” said council member David Grosso, the bill’s sponsor. “However, through this legislation, we will add another financing tool to the arsenal and partner with the private market to expand the amount of debt capital available for affordable housing projects.”
 
Another bill before the council proposed the conversion of underused office buildings into affordable housing developments.

 
About the author
Published
May 18, 2017
Strong Jobs Report Threatens Mortgage Rate Rally

October hiring more than doubled expectations, pushing Treasury yields higher

Nov 06, 2026
Fed Holds Rates, But Pricing Pressures Persist

Rising Treasury yields and fresh inflation data complicate rate locks, borrower qualification, and lender margins as markets anticipate another hike in December

Oct 29, 2026
Zippy Adds Capital For Manufactured-Home Lending Push

The $20 million investment from Saluda Grade will support expansion beyond 27 states and new loan products across wholesale, retail, and community channels

Oct 16, 2026
Inflation Hits 3.7%, Putting Mortgage Rate Relief At Risk

September’s inflation pickup puts recent rate improvements at risk, potentially eroding affordability gains from lower home prices and seller concessions

Oct 14, 2026
PLACE Acquires Ardley, Expanding Push To Turn Existing Borrowers Into New Loans

The latest deal connects borrower retention technology with Maxwell's origination platform and PLACE's real estate network, creating new opportunities for lenders

Oct 09, 2026
Equifax, TransUnion Launch New Tools To Cut Credit Report Costs

Both bureaus introduce ways to purchase credit scores separately from reports, while Equifax reports growing VantageScore adoption and extends $1 pricing through 2028

Oct 09, 2026