The proposed bill establishes a Long Term Subsidy Contract (LTSC) between the District of Columbia Housing Authority (DCHA) and 10Q NW LLC for the development of affordable housing units at The Barnett Aden located at 10 Q Street, NW. The agreement aims to provide project-based rental subsidies under the Local Rent Supplement Program (LRSP) for five housing units designated for families with incomes not exceeding 30% of the area median income. DCHA will allocate an annual housing subsidy of $187,308 over a 20-year term, with the possibility of a five-year renewal, contingent upon available appropriations. The project will consist of a total of 29 apartment units, including a mix of one, two, and three-bedroom units, with affordability levels set at 30%, 50%, and 80% of the Area Median Income (AMI).
The bill outlines various responsibilities and requirements for both DCHA and the property owner, including compliance with housing quality standards, tenant screening, and nondiscrimination in leasing practices. It mandates that owners maintain the units in good condition and adhere to labor standards during construction, ensuring fair employment practices. Additionally, the bill emphasizes the importance of equal opportunity compliance and outlines the procedures for inspections, rental subsidy adjustments, and contract amendments. Overall, the legislation aims to enhance housing affordability for low-income families in the District of Columbia while ensuring effective management of the rental assistance program.