The act encompasses Councilmember Catania’s “HomeStart Financial Incentives Act of 2001” which he introduced last April in order to expand tax incentives making homeownership in the district more affordable, to encourage rehabilitation of rental properties and to maintain Section 8 rental housing in the district. Specifically, the act 1) reduces tax liability for qualified home improvements; 2) provides for a tax abatement for multifamily rental properties; 3) provides for an employer-assisted housing credit; and 4) creates a HomeStart Homeownership Counseling Program.

“This law creates real opportunities for affordable housing and homeownership to many residents of the district,” stated Councilmember Catania (R-At Large).

“The HomeStart Regulatory Improvement Amendment Act of 2001” was introduced last April by Councilmember Catania as a companion bill to the “HomeStart Financial Incentives Act of 2001.” The regulatory improvement amendment would streamline the construction permitting process, standardize the rehabilitation code and require D.C. construction codes to be available over the Internet. The Committee on Consumer and Regulatory Affairs held a hearing on the companion bill on October 10, 2001, and Councilmember Catania is optimistic that the council will move forward with the bill in the spring.

The Washington D.C. Association of Realtors was “pleased that the Council's collective vision for housing production and affordability included much of Councilmember Catania's incentives, for which he was honored with a nomination for the HOPE AWARDS Public Policy Initiative of the Year, to increase homeownership opportunities for persons of all incomes.”