Bill > B26-0545

This bill amends the Relief for River East at Grandview Condominium Owners Act of 2024 to provide housing relief for individuals who purchased condominiums at the River East at Grandview complex between July 2017 and March 2019. The bill establishes new provisions for property owners and former property owners, including eligibility for Home Purchase Assistance Program (HPAP) grants, conversion of existing HPAP loans to grants, and modifications to Inclusionary Zoning (IZ) ownership unit requirements. Specifically, eligible individuals can receive a grant towards purchasing a primary residence in Washington, D.C., with certain restrictions on subsequent purchases. The bill also shortens the affordability covenant period for IZ units to 15 years and provides tax exclusions for grant amounts. The Department of Housing and Community Development (DHCD) and the District of Columbia Housing Finance Agency (DCHFA) are required to submit annual reports on the relief program through Fiscal Year 2030, detailing the number of recipients, property locations, and implementation challenges. The bill will no longer be effective as of December 31, 2032, and includes standard provisions for mayoral approval, congressional review, and publication.

Housing and Urban Affairs

https://lims.dccouncil.gov/Legislation/B26-0545