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, originally established for the Ritz Apartments, will be extended for an additional twenty years, allowing Jubilee ADMO to secure financing for moderate rehabilitation of the property. The contract will provide rental assistance for eighteen units designated for extremely low-income families, with an annual subsidy of up to $773,400 funded through the Local Rent Supplement Program. The bill does not require competitive solicitation for this extension, as it adheres to specific provisions of the D.C. Code.

Additionally, the bill includes a deletion of the existing Exhibit C of Contract Units and Rents, which will be replaced with a new exhibit attached to the agreement. The DCHA has confirmed the legal sufficiency of the proposed agreement, ensuring compliance with federal and local regulations. The agreement mandates that rental assistance payments will only be made if the units meet Housing Quality Standards. The bill also outlines a housing proposal for a property at 1631 Euclid, NW, which includes 25 units with varying rents, all intended for the Low-Income Rental Subsidy Program. The effective date for this bill is set for October 15, 2025, aiming to enhance affordable housing options for low-income residents in the area.