The resolution proposes the approval of an Assignment, Assumption, and Amendment of the Long-Term Subsidy Contract (LTSC) between the District of Columbia Housing Authority (DCHA) and Jubilee Housing Limited Partnership. This agreement will facilitate the assignment of the LTSC from Jubilee Housing to Jubilee ADMO Apartments LP, which is an affiliate of Jubilee Housing. The LTSC will be extended for an additional twenty years, allowing Jubilee ADMO to secure long-term financing for the rehabilitation of the Mozart Apartments, located at 1630 Fuller Street, NW. This initiative is part of the District's Local Rent Supplement Program aimed at providing affordable housing for extremely low-income households.

The resolution outlines the historical context of the LTSC, which was originally established in 2007 to support fourteen affordable housing units at the Mozart Apartments. The extension of the LTSC is necessary to continue providing operating subsidies for these units, ensuring that they remain accessible to low-income residents. The Council's approval of this resolution will enable the DCHA to formalize the agreement with Jubilee ADMO, thereby supporting the ongoing provision of affordable housing in the District. The resolution is set to take effect immediately upon adoption.