The proposed bill establishes a Long Term Subsidy Contract (LTSC) between the District of Columbia Housing Authority (DCHA) and 10Q NW LLC, aimed at providing affordable housing units at The Barnett Aden located at 10 Q Street, NW. Under this agreement, DCHA will allocate an annual housing subsidy of $187,308 for a duration of twenty years through the Local Rent Supplement Program (LRSP), specifically targeting low-to-moderate income residents. The project will consist of 29 apartment units with varying affordability levels, including units for individuals at 30%, 50%, and 80% of the area median income (AMI). The bill outlines the selection process for the contractor, ensuring compliance with the District's Consolidated Plan for affordable housing and includes performance standards to ensure accountability.

Additionally, the bill emphasizes the responsibilities of both DCHA and the property owner regarding the maintenance and compliance of the housing units with quality standards. It includes provisions for the management of the subsidy, tenant screening, and nondiscrimination in leasing practices. The bill also mandates that any transfer of ownership interests requires prior written consent from DCHA and prohibits members of Congress from benefiting from the contract. Overall, the legislation aims to facilitate affordable housing options for extremely low-income families while ensuring compliance with labor standards and fair employment practices.