The proposed bill establishes a loan agreement between the District of Columbia and 2401 25th Street LLC for a total of $18,939,570 from the Housing Production Trust Fund, aimed at developing 67 units of affordable senior housing at 2401 25th Street SE in Ward 8. The loan, which has a term of 43 years at a 3% simple interest rate, will finance various project costs, including acquisition, predevelopment, and construction. The bill outlines the qualifications of the contractor, which is associated with Justice Housing, Inc. and The Miller Group, and includes certifications confirming compliance with budget authority and legal requirements. The project will include units reserved for permanent supportive housing and will enforce affordability restrictions through covenants that run with the land in perpetuity.

Additionally, the bill introduces comprehensive compliance requirements for borrowers and contractors involved in the project, emphasizing adherence to federal and local regulations, including labor standards and environmental safety. It mandates the submission of payroll statements, maintenance of accurate records, and compliance with various housing programs. The bill also includes provisions for anti-retaliation, insurance requirements, and the management of project finances, ensuring that all parties involved meet stringent legal and regulatory standards. Overall, the legislation aims to enhance affordable housing initiatives while ensuring responsible management and oversight of the project.