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 II, transferring the contract to Jubilee ADMO Apartments LP. This contract, originally established for rental assistance at The Sorrento Apartments, will be extended for an additional twenty years, from February 28, 2026, to February 28, 2046. The extension is crucial for Jubilee ADMO to secure financing for the moderate rehabilitation of the property, ensuring continued support for eligible residents and the effective operation of the rental assistance program. The annual contract amount is set at $548,436, with payments made monthly as Housing Assistance Payments.

Additionally, the bill outlines provisions to ensure compliance with Housing Quality Standards (HQS) and confirms that Jubilee Housing II will transfer its ownership interest in The Sorrento to Jubilee ADMO. The initiative also introduces a new housing project at 2233 18th Street, comprising 17 units with varying bedroom counts, all eligible for the Local Rent Supplement Program (LRSP) subsidy. The proposed rents for these units range from $1,762 for zero-bedroom units to $3,872 for three-bedroom units, reflecting a commitment to providing affordable housing options for low-income residents in Washington, DC. The effective date for this initiative is set for October 15, 2025.