The resolution approved by the Council of the District of Columbia on May 6, 2025, authorizes a long-term subsidy contract for 20 years with Harvard Court Owner, LLC. This agreement, identified as Contract No. 2025-LRSP-04A, aims to support the District's Local Rent Supplement Program by providing funding for housing costs associated with 22 affordable housing units at the Harvard Court Apartments located at 1425 Harvard Street, NW. The contract will allocate an annual operating subsidy not to exceed $707,035.

Upon adoption, the resolution mandates the transmittal of a copy to the District of Columbia Housing Authority and the Mayor. It also incorporates the fiscal impact statement from the Chief Financial Officer, ensuring compliance with legislative procedures. The resolution is effective immediately upon its passage.