Bill > PR26-0185

This resolution approves a 20-year long-term subsidy contract (Contract No. 2025-LRSP-04A) with Harvard Court Owner, LLC under the District of Columbia's Local Rent Supplement Program (LRSP), which aims to support affordable housing. Specifically, the resolution authorizes an annual operating subsidy of up to $707,035 to help fund 22 affordable housing units located at 1425 Harvard Street, NW. The contract is being approved under the District of Columbia Home Rule Act and the Procurement Practices Reform Act, with the Council's approval serving as a formal endorsement of the subsidy agreement. The resolution requires that a copy of the adopted resolution be transmitted to the District of Columbia Housing Authority and the Mayor, and it adopts the Chief Financial Officer's fiscal impact statement. The resolution will take effect immediately upon adoption, providing immediate support for these affordable housing units.

https://lims.dccouncil.gov/Legislation/PR26-0185