The resolution proposes the approval of a long-term subsidy contract between the District of Columbia Housing Authority (DCHA) and 10Q NW LLC, aimed at supporting the Local Rent Supplement Program (LRSP). This agreement will provide an annual housing subsidy of $187,308 for a duration of twenty years, facilitating the development of five affordable housing units at The Barnett Aden located at 10 Q Street, NW. The LRSP is designed to assist extremely low-income households, including those who are homeless or require supportive services, by offering affordable housing options.

The resolution outlines the legislative framework established by the Council in 2007 to fund affordable housing initiatives and highlights the immediate need for this contract to ensure the availability of long-term housing solutions for extremely low-income families. Upon approval, DCHA will enter into the agreement with 10Q NW LLC, allowing the owner to lease the rehabilitated units to eligible households earning 30% or less of the area median income. The resolution is set to take effect immediately upon adoption and will be transmitted to the DCHA and the Mayor.