The resolution, titled the Local Rent Supplement Program Contract No. 2025-LRSP-05A with 10Q NW 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 specifically pertains to funding housing costs for five affordable housing units located at 10 Q Street, NW, with an annual operating subsidy not exceeding $187,308. The resolution is in accordance with the District of Columbia Home Rule Act and the Procurement Practices Reform Act, ensuring that the contract is legally sound and properly executed.

Upon adoption, the resolution mandates that a copy be transmitted to the District of Columbia Housing Authority and the Mayor. It also includes a fiscal impact statement adopted from the Chief Financial Officer, confirming the financial implications of the contract. The resolution is effective immediately upon its passage by the Council.