The proposed bill facilitates the assignment, assumption, and amendment of a Long Term Subsidy Contract (LTSC) between the District of Columbia Housing Authority (DCHA) and Jubilee Housing Limited Partnership, transferring it to Jubilee ADMO Apartments LP. This contract, identified as LTSC Contract Number 0076-2007-00XXL, will be extended for an additional twenty years, allowing Jubilee ADMO Apartments LP to secure long-term financing for the moderate rehabilitation of the Marietta Apartments. The bill ensures continued rental assistance for eligible residents and maintains the operation of the program at these apartments, with an annual subsidy amount of up to $271,548 funded through DCHA's operating budget for Fiscal Year 2026.

Additionally, the bill introduces new legal language to enhance funding allocations for various programs, totaling $22,629, with specific amounts designated for different line items. It also proposes the deletion of outdated legal language to streamline the legislative framework, improving the efficiency and effectiveness of the supported programs. Key provisions include compliance with Housing Quality Standards (HQS) for the units covered by the LTSC, ensuring that no rental assistance payments are made unless these standards are met, and replacing the existing Exhibit C of Contract Units and Rents with a new exhibit detailing specific units and rental amounts.