The proposed bill establishes a long-term subsidy contract between the District of Columbia Housing Authority (DCHA) and Harvard Court Owner, LLC, to provide affordable housing through the Local Rent Supplement Program (LRSP). The DCHA will allocate an initial annual subsidy of $707,035 for a period of twenty years to support the development of twenty-two affordable housing units at the Harvard Court Apartments, located at 1425 Harvard Court, NW. The project will reserve 20% of the total units as Permanent Supportive Housing for families earning no more than 30% of the area median income. The bill emphasizes the importance of adhering to the terms of the agreement to ensure effective utilization of the housing subsidy and outlines the legal sufficiency of the contract, confirming that the proposed contractor is not debarred from providing services.

Additionally, the bill includes provisions for compliance with federal and local regulations, including non-discrimination in employment practices and adherence to wage standards for contractors and subcontractors involved in the project. It mandates that all contracts must include specific provisions from the District of Columbia Municipal Regulations, ensuring equal employment opportunities and requiring contractors to submit an Affirmative Action Program. The bill also establishes guidelines for the management of initial contract rents, responsibilities of the owner, and the process for temporary relocation of tenants during construction. Overall, the legislation aims to enhance affordable housing opportunities for low-to-moderate income residents while ensuring compliance with relevant laws and regulations.