The proposed bill establishes a loan agreement between the District of Columbia's Department of Housing and Community Development (DHCD) and 5907 Dix St Condominium LLC for a total of $12,752,150 from the Housing Production Trust Fund (HPTF). This funding is earmarked for the development of 30 affordable housing units at 5907 Dix Street, NE, with specific affordability requirements: seven units will be reserved for households earning at or below 60% of the Median Family Income (MFI), while twenty-three units will be affordable for those at or below 80% MFI. The loan will have a term of 42 years at a 3% simple interest rate, and the bill emphasizes the importance of compliance with local and federal regulations, including maintaining affordability covenants on the property.

Additionally, the bill outlines the responsibilities of both the borrower and lender, including the need for accurate record-keeping, compliance with legal requirements, and the maintenance of the project. It details the process for disbursement of loan proceeds, conditions for default, and the lender's rights to protect the project. The agreement also mandates public disclosure of information submitted to the lender under the Freedom of Information Act, ensuring transparency in the funding process. Overall, the bill aims to facilitate the development of affordable housing while ensuring accountability and compliance with relevant laws and regulations.