The resolution authorizes the emergency issuance of up to $88 million in District of Columbia revenue bonds to support the National Community Reinvestment Coalition, Inc. (NCRC) for a project involving the acquisition, construction, furnishing, and equipping of an office building at 740 15th Street, NW, Washington, DC. It outlines the responsibilities of various officials, including the Mayor, in managing the bond issuance process while ensuring compliance with the District's Home Rule Act. The bonds will be special obligations of the District, meaning they will not create a debt or pledge the District's credit or taxing power, with repayment secured solely from bond sale proceeds and other specified revenues.

The resolution also establishes that District officials will not be personally liable for the bonds or related agreements, and it ensures the validity of signatures on the bonds even if the signatory is no longer in office. It includes provisions for the expiration of the bond issuance if not executed within three years, compliance with public approval requirements, and mandates the Mayor to report on the bond proceedings to the Council. The resolution is effective immediately upon adoption and includes a fiscal impact statement from the Chief Financial Officer, emphasizing the initiative's goal of promoting economic development and job creation within the District.