The proposed bill establishes a long-term subsidy contract between the District of Columbia Housing Authority (DCHA) and 2151 California Associates LLC for the development of affordable housing units at The Bobbi Apartments, located at 2151 California Street, NW. DCHA will provide an annual housing subsidy of $125,400 for 20 years to support the Local Rent Supplement Program (LRSP), facilitating the creation of three affordable housing units. The project, which has a total development cost of approximately $28 million, will involve significant renovations to enhance accessibility and energy efficiency while preserving the building's historic attributes. It aims to provide a mix of one, two, and three-bedroom units, with a focus on accommodating larger families and ensuring accessibility for residents with disabilities.

Additionally, the bill outlines the responsibilities of the Owner in relation to the selection of contractors and compliance with labor standards, including the payment of appropriate wages and adherence to federal regulations. It emphasizes the prohibition against displacing residential tenants and mandates relocation assistance if necessary. The bill also includes provisions for conflict of interest disclosures, ensuring that no public officials benefit from the agreement, and establishes guidelines for the transfer of interests in the contract. Overall, the legislation aims to enhance affordable housing opportunities in the District while ensuring compliance with applicable regulations and promoting fair labor practices.