Bill > PR25-0611

This Resolution, titled the "Local Rent Supplement Program Contract No. 2024-LRSP-02A with Hope View Apartments LP Approval Resolution of 2024," approves a long-term agreement, specifically Contract No. 2024-LRSP-02A, between the District of Columbia and Hope View Apartments LP. This contract will provide an operating subsidy, which is financial assistance to help cover housing costs, for 16 affordable housing units located at 1337 Good Hope Road, SE. The subsidy is part of the District's Local Rent Supplement Program (LRSP), a program designed to support affordable housing. The agreement is for an initial amount not exceeding $232,536 annually and is authorized under District of Columbia law, including the Home Rule Act and the Procurement Practices Reform Act of 2010. The resolution will be sent to the District of Columbia Housing Authority and the Mayor, and it takes effect immediately.