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Neighbors,

I hope this message finds you well. I wanted to provide you with an update on the recent developments regarding the District’s budget for Fiscal Year 2024, which just passed first reading at today’s legislative meeting. I am excited to share the impactful investments that have been made to promote economic growth and opportunity in our city.
* Restoring Funding for Child Wealth Building Act (Baby Bonds): I led the charge in securing $54 million to restore funding for the Child Wealth Building Act (Baby Bonds). This critical investment will pave the way for a brighter future for our children, addressing wealth disparities and providing them with financial opportunities.
* Downtown Housing Development and Affordability: To spur housing development in downtown, $55 million has been allocated over the next five years. I was able to secure stronger affordable housing requirements than initially proposed by the budget. This commitment ensures that all residents have access to safe and affordable homes, fostering inclusive communities.
* Supporting Downtown Retail Recovery: In recognition of the challenges faced by our downtown businesses, we have allocated $3.2 million in Downtown Retail Support Grants. These grants will provide much-needed assistance to our local retailers, aiding in their recovery and contributing to the revitalization of our downtown area.
* Boosting Main Streets and Small Businesses: Small businesses are the lifeblood of our community, and we recognize their importance. We have increased the budget for the Main Streets program by more than 30% since 2016, with a $1.3 million investment. This enhancement will support our small business owners and create a vibrant local economy.
* Commercial Acquisition Fund Expansion: I am grateful for the full Council's support in increasing the Commercial Acquisition Fund by $6 million. This fund, that I created in 2021, provides crucial assistance to economically disadvantaged business owners seeking to purchase commercial space in the District, fostering economic empowerment.
* New York Avenue Great Streets Expansion: The Council has approved the expansion of the New York Avenue Great Streets boundaries to include parts of the Trinidad community. This expansion will provide additional support to our small businesses and contribute to the growth and prosperity of our local economy.
* Ending Generational Poverty: Investing in the well-being of our community we've allocated $1 million to a direct cash assistance initiative that will provide essential support to end generational poverty, empowering our residents to build a better future.
* Supporting Victims of Domestic Violence: To combat domestic violence, we have allocated $10.5 million to victim and domestic violence services, totaling $27.4 million. These funds will strengthen support systems and resources for survivors, ensuring their safety and well-being.
* Restoring Funding for Emergency Rental Assistance: We have fully restored funding for the Emergency Rental Assistance Program, securing $43 million. This critical program will provide much-needed support to residents at risk of eviction, helping them maintain stable homes.
* Access to Justice for Low-Income Tenants: To uphold justice and fairness, $31.6 million has been allocated to the Access to Justice Fund. This vital program will provide much-needed support to residents at risk of eviction, helping them maintain stable homes.

In service,

Kenyan R. McDuffie

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