The resolution proposes the approval of a long-term subsidy contract between the District of Columbia Housing Authority (DCHA) and 2151 California Associates LLC, aimed at supporting the Local Rent Supplement Program (LRSP). This contract will provide an annual housing subsidy of $125,400 for a duration of 20 years, facilitating the availability of three affordable housing units at The Bobbi Apartments located at 2151 California Street, NW. The initiative is part of the District's efforts to address the housing needs of extremely low-income households, including those who are homeless or require supportive services.

The resolution outlines the legislative framework established by the Council in 2007, which created the LRSP to provide affordable housing options for extremely low-income residents. Following a competitive selection process, 2151 California Associates LLC was chosen to partner with DCHA to develop these housing units. The approval of this contract is deemed urgent to ensure the timely provision of affordable housing for families with incomes at or below 30% of the area median income. The resolution will take effect immediately upon adoption and will be transmitted to the DCHA and the Mayor.