Sorry, you need to enable JavaScript to visit this website.


Office of the Deputy Mayor for Planning and Economic Development

DC Agency Top Menu

-A +A
Bookmark and Share

Mayor Bowser to Highlight Legacy Investments that Support Black Businesses In An Effort to Close the Racial Wealth Gap

Sunday, March 20, 2022

(Washington, DC) – On Monday, March 21, at 11:00 a.m., Mayor Muriel Bowser and the Office of the Deputy Mayor for Planning and Economic Development will announce the inaugural awardees of the Commercial Property Acquisition Fund. This program provides equity impact eligible businesses down payment assistance of up to $750,000 or 25% of the sale price, whichever is less, for the acquisition of commercial property in the District of Columbia. The Commercial Property Acquisition Fund aims to support DC resident-owned businesses that have historically experienced barriers to access the capital needed to become a commercial property owner. 

Mayor Bowser will also highlight her $40 million Legacy Initiative, which supports Black residents and businesses to remain or return to thrive in the District of Columbia. The $4 million Commercial Property Acquisition Fund – administered by the largest Black-led bank in the country, City First Bank, which is co-headquartered in the District of Columbia – is part of Mayor Bowser’s Legacy Initiative.

Monday, March 21 at 11 am

Mayor Muriel Bowser 
Kenyan McDuffie, Councilmember, Ward 5
John Falcicchio, Deputy Mayor for Planning and Economic Development  
LaToya Liles, Owner, Tsunami Hair Studio
Sonja Wells, Executive Vice President & Chief Lending Officer, City First Enterprise 

Tsunami Hair Studio
4248 Benning Road, NE
*Closest Metro Station: Benning Road Metro Station* 
*Closest Capital Bikeshare Station: Benning Road Metro Station*  

Press interested in attending the event are asked to RSVP to [email protected].  

The DC Office of Cable Television, Film, Music, and Entertainment will provide a live feed of this event. To view event online visit, tune in on Channel 16 (DCN) or any of the social media platforms below.

Social Media:
Mayor Bowser Twitter: @MayorBowser
Mayor Bowser Instagram: @Mayor_Bowser
Mayor Bowser Facebook:
Mayor Bowser YouTube: