The "St. Elizabeths East Parcel 13 Term Sheet Amendment Act of 2025" revises the existing term sheet for the development of Parcel 13 on the St. Elizabeths East campus, reflecting a change in the developer from the Neighborhood Development Corporation (NDC) to Dantes Partners Acquisitions LLC. The updated development plan includes approximately 241 housing units, primarily focused on senior living, and 5,000 square feet designated for gallery or retail space. Key amendments include extending the project closing timeline from two years to six years and allowing an additional six months for substantial completion after construction begins, thereby facilitating the redevelopment efforts of Parcel 13.

Additionally, the bill stipulates that any future substantive changes to the terms of the disposition must be submitted to the Council for a resolution, which will be subject to a 45-day review period. The financial analysis indicates that the revised fiscal year 2025 budget and the proposed budgets for fiscal years 2026 through 2029 have adequate funds to support the bill's implementation, with no anticipated additional costs arising from the changes in project scope or the extended closing date until March 2029.