DCCH formed a Limited Liability Corporation (LLC), as an investment vehicle to secure Low-Income Housing Tax Credits, Tax-Exempt Bonds and Community Development Block Grant loans for this complex financing deal that will enable low and moderate-income residents in Columbia Heights to own a rehabilitated multi-unit housing development. This financing afforded DCCH the opportunity to simultaneously leverage financing for multi-development of several projects. The development includes properties located at 1474 Chapin Street, NW and 1030-1034 Euclid Street, NW.

This model is a working example of how non-profits can structure financing packages to maximize their impact and stay on the cutting edge of economic development. At the end of the 15-year tax credit period, the properties revert to the ownership of the resident association as cooperatively owned housing.