The bill proposes financing for the Jubilee ADMO project, which involves the acquisition and rehabilitation of six buildings in Ward 1, Washington, D.C., to create approximately 188 affordable housing units targeted at low- and moderate-income households. The total financing amount requested is not to exceed $77,750,000, which will be sourced through tax-exempt and/or taxable multifamily housing mortgage revenue bonds. The project aims to set aside at least 40% of the units for families earning at or below 60% of the area median income (AMI) and is expected to provide significant public benefits, including affordable housing opportunities and job creation during construction. The financing structure includes various funding sources, such as Low Income Housing Tax Credits and a DCHFA Risk-Share Loan.

Additionally, the bill outlines the project's development and financing plan, emphasizing the importance of tenant services and community engagement. It includes provisions for tenant relocation during the rehabilitation process, ensuring minimal disruption and prioritizing families and seniors for close-proximity relocation options. The project is designed to meet Enterprise Green Communities standards and will incorporate significant upgrades to building systems. The financial projections indicate a strong demand for affordable housing in the area, with an underwritten net operating income supporting a permanent mortgage. The DCHFA's approval of this resolution allows for further steps toward financing the project, although it does not constitute a commitment to issue the bonds.