The "St. Elizabeths East Parcel 13 Term Sheet Amendment Act of 2025" modifies the previously approved term sheet for the development of Parcel 13 on the St. Elizabeths East campus by changing the developer from the Neighborhood Development Corporation (NDC) to Dantes Partners Acquisitions LLC. The new development plan aims to construct approximately 241 housing units, primarily focused on senior living, along with 5,000 square feet designated for gallery or retail space. The bill also extends the project timeline, increasing the closing period from two years to six years and allowing an additional six months for substantial completion after construction begins.

In addition to the developer change, the bill updates the legal language in the original term sheet by replacing references to the "executed term sheet" with the "amended term sheet" and permitting future substantive changes to the business terms of the transaction. It mandates that any such changes must be submitted to the Council for a resolution, which will undergo a 45-day review period. The financial implications indicate that the revised fiscal year 2025 budget and proposed budgets for fiscal years 2026 through 2029 have adequate funding to support the project, with no additional costs expected from the changes made.