The proposed bill establishes a loan agreement between the District of Columbia's Department of Housing and Community Development (DHCD) and 10 Q NW LLC for a maximum amount of $9,828,615 from the Housing Production Trust Fund (HPTF). This funding is designated for the development of 29 units of affordable housing at 10 Q Street NW, known as the Barnett Aden Apartments. The loan will cover various project costs, including acquisition, predevelopment, soft costs, and construction hard costs, with affordability maintained through covenants lasting 40 years. The bill also emphasizes community involvement by allowing the Advisory Neighborhood Commission (ANC) a 30-business day period to comment on the project, during which the DHCD must give "great weight" to their recommendations.

Additionally, the bill outlines the responsibilities of the Borrower regarding the use of loan proceeds, compliance with various legal and regulatory requirements, and the management of the project. It includes provisions for the adjustment of the loan amount, the submission of annual certifications, and the maintenance of accurate records. The bill also mandates compliance with federal and District labor standards, including wage determinations and insurance requirements for contractors. Overall, the legislation aims to facilitate the development of affordable housing while ensuring transparency, accountability, and adherence to legal standards throughout the project lifecycle.