The resolution, titled the Local Rent Supplement Program Contract No. 2025-LRSP-04A with Harvard Court Owner, LLC Approval Resolution of 2025, authorizes a long-term subsidy contract for 20 years to support the District's Local Rent Supplement Program. This agreement will provide funding for housing costs associated with 22 affordable housing units at the Harvard Court Apartments, located at 1425 Harvard Street, NW. The contract, with an initial annual subsidy amount not exceeding $707,035, aims to enhance affordable housing options in the District.

The resolution outlines the approval process under the District of Columbia Home Rule Act and the Procurement Practices Reform Act, ensuring compliance with legislative requirements. Upon adoption, a copy of the resolution will be transmitted to the District of Columbia Housing Authority and the Mayor. The resolution is effective immediately and includes a fiscal impact statement adopted from the Chief Financial Officer, confirming the financial implications of the contract.