The resolution, titled the Local Rent Supplement Program Contract Number 2025-LRSP-04A with PBS Property Holdings, LLC Approval Resolution of 2025, authorizes a long-term subsidy contract for 20 years to support the District's Local Rent Supplement Program. This contract, specifically for Contract Number 2025-LRSP-04A, will provide funding for housing costs associated with 8 affordable housing units at the Kennedy Gardens Apartments, located at 145 Kennedy Street, NW. The annual operating subsidy is capped at $255,552.

The resolution outlines the approval process in accordance with the District of Columbia Home Rule Act and the Procurement Practices Reform Act. Upon adoption, a copy of the resolution will be transmitted to the District of Columbia Housing Authority and the Mayor. The resolution is effective immediately and includes a fiscal impact statement adopted from the Chief Financial Officer, ensuring that the financial implications of the contract are acknowledged.