The bill authorizes the District of Columbia Housing Finance Agency (DCHFA) to approve an Eligibility Resolution for the Jubilee ADMO project, which will utilize tax-exempt and/or taxable multifamily housing mortgage revenue bond financing not to exceed $77,750,000. This funding is designated for the acquisition, rehabilitation, and equipping of approximately 188 residential rental units in the Adams Morgan neighborhood of Ward 1, with all units aimed at households earning at or below 80% of the area median income (AMI). The project is expected to enhance affordable housing availability and create construction jobs for local residents, while also adhering to various compliance requirements, including Low Income Housing Tax Credits and Green Building Act standards.

The bill also outlines the project's financing structure, which includes a combination of tax-exempt bonds and loans, and emphasizes the importance of maintaining affordability for low-income residents. It specifies that the transfer of property interests will not trigger the Tenant Opportunity to Purchase Act (TOPA) and prioritizes relocation options for seniors and families with school-aged children during renovations. A relocation budget of $2,850,000 is allocated to cover interim rent and moving costs, ensuring a smooth transition for residents. Overall, the bill aims to address the pressing need for affordable housing in a high-demand area while providing necessary support and services to affected residents.