WASHINGTON, DC — Following confirmation from the District’s Chief Financial Officer that the city ended FY 2025 with higher-than-expected revenue, Councilmember Robert C. White, Jr. announced that $10 million will be directed to the Housing Production Trust Fund specifically to preserve existing affordable housing. 

Earlier this year, Councilmember White pushed to make affordable housing preservation a top contingency priority during budget negotiations, arguing that protecting existing homes is the fastest and most cost-effective way to keep District residents stably housed. That advocacy paid off. 

“This is about keeping people in their homes,” said Councilmember White. “Preserving affordable housing costs less than rebuilding it later and it prevents displacement before it happens. I fought to make sure that when additional funds became available, housing preservation was at the top of the list.” 

According to the Chief Financial Officer, more than $51 million in unexpected revenue will be automatically allocated to priorities Councilmembers identified during the budget process, including housing, rental assistance, and health care. The $10 million directed to the Housing Production Trust Fund will be used exclusively to preserve existing affordable housing across the District. 

Councilmember White has consistently emphasized preservation as a critical housing strategy, particularly as rising construction costs and interest rates make new development more expensive and slower to deliver. 

“Budgets reflect values,” White added. “This investment shows that we can be fiscally responsible and still act with urgency to protect our residents.”