Proposed Multiyear Contract with Jubilee Housing, Inc. to Contract No. DHCD-2025-50

MURIEL BOWSER
MAYOR
February 13, 2025
The Honorable Phil Mendelson
Chairman
Council of the District of Columbia
John A. Wilson Building
1350 Pennsylvania Avenue, NW, Suite 504
Washington, DC 20004
Dear Chairman Mendelson:
Enclosed for consideration an d adopt ion by the Council of the District of Columbia is an
emergency bi ll e ntitled “Multiyear Contract No . DHCD -2025-50 with J ubilee Ho using, In c.
Emergency Act of 2025,” a long with an accompanying emergency declaration resolution in the
not-to-exceed amount of $33,679,648 for the 20-year contract period.
The legislation will approve, pursuant to section 451 of the District of Columbia Home Rule Act
(D.C. Official Code § 1- 204.51 ), a proposed multiyear contract with Jubilee Housing, Inc. to
subsidize the rents and provide services to 18 permanently affordable re-entry supportive housing
units located at 1721-1725 Kalorama Road NW, Washington DC, in Ward 1.
I urge the Council to take prompt and favorable action on the enclosed legislation.
1
GOVERNMENT OF THE DISTRICT OF COLUMBIA
Office of Contracting and Procurement
P
ursuant to section 202(c) of the Procurement Practices Reform Act of 2010, as amended, D.C.
Official Code § 2-352.02(c), the following contract summary is provided:
COUNCIL CONTRACT SUMMARY
(Standard, tipping, retroactive without changes, and multiyear)
(A
) Contract Number: DHCD LTFC No. 2025-50
P
roposed Contractor: Jubilee Housing, Inc.
P
roposed Contractor’s Principals: Jim Knight, Executive Director
Contract Amount (Base Period): $33,679,648
U
nit and Method of Compensation: Draw Schedule
Term of Contract: 20 Years
Type of Contract: Long Term Funding Contract
Source Selection Method: Request for Proposals
(B
) For a contract containing option periods, the contract amount for the base period and for
each option period. If the contract amount for one or more of the option periods differs from
the amount for the base period, provide an explanation of the reason for the difference:
T
he contract does not contain option years.
(C
) The goods or services to be provided, the methods of delivering goods or services, and any
significant program changes reflected in the proposed contract:
The Department of Housing and Community Development (DHCD) proposes providing a multiyear
contract, authorized pursuant to the Reentry Housing and Services Program Act of 2021, D.C. Law
24‐45, D.C. Official Code § 42‐2231 (“Reentry Housing Act”), to Jubilee in the amount not to
exceed $1,400,000 during fiscal year 2025, and in the total amount of $33,679,648 during the 20-
2

year contract period. Proceeds will be used by Jubilee to subsidize the rents and provide services to
households with incomes at 30% of the median family income at the 18 permanently affordable
reentry supportive housing units located at 1721‐1725 Kalorama Road NW, Washington DC, in
Ward 1.

(D) The selection process, including the number of offerors, the evaluation criteria, and the
evaluation results, including price, technical or quality, and past performance components: In
February 2022, DHCD amended its Consolidated Request for Proposals for Affordable Housing
Projects (“RFP”) issued on September 30, 2021 to add a funding source for sponsor-based reentry
housing projects. In response to the amended RFP, Jubilee submitted a funding proposal for a
project to be located at 1721 – 1725 Kalorama Road, NW (the “Project”) that will include 44 units
of reentry supportive housing, of which 18 will be permanently affordable to households with
incomes at 30% of the median family income, proposing to provide rent subsidies and supportive
services to the 18 permanently affordable reentry supportive housing units.

Upon review of the Project, DHCD determined that the Project proposal had high merit. As such,
DHCD selected the Project for further underwriting due to the vulnerable population the Project
will serve.

(E) A description of any bid protest related to the award of the contract, including whether the
protest was resolved through litigation, withdrawal of the protest by the protestor, or
voluntary corrective action by the District. Include the identity of the protestor, the grounds
alleged in the protest, and any deficiencies identified by the District as a result of the protest:
DHCD did not receive a bid protest as it relates to the Project.

(F) A description of any other contracts the proposed contractor is currently seeking or holds
with the District:
The proposed contractor does not hold any other contracts with the District.

(G) The background and qualifications of the proposed contractor, including its organization,
financial stability, personnel, and performance on past or current government or private
sector contracts with requirements similar to those of the proposed contract:
The owner of Jubilee KEB will be an affiliate of Jubilee. Jubilee will enter into the contract with
DHCD as the owner of Jubilee KEB. Based on DHCD review of Jubilee, Jubilee has satisfactory
prior performance on agreements with the Department of Housing and Community Development.

(H) A summary of the subcontracting plan required under section 2346 of the Small, Local, and
Disadvantaged Business Enterprise Development and Assistance Act of 2005, as amended,
D.C. Official Code § 2-218.01 et seq. (“Act”), including a certification that the subcontracting
plan meets the minimum requirements of the Act and the dollar volume of the portion of the
contract to be subcontracted, expressed both in total dollars and as a percentage of the total
contract amount:
3
Jubilee has entered into a Certified Business Enterprise (CBE) agreement with the Department of
Small and Local Business Development (DSLBD) regarding the Project and is bound to all of the
requirements reflected the CBE agreement executed as of June 7, 2023.
(I
) Performance standards and the expected outcome of the proposed contract:
Funds provided under this contract will be used as rent subsidy and supportive services funding for
the 18 permanently affordable housing units at 30% median family income at the Project. Exhibit H
of the contracts provides the DHCD processes in place to ensure performance at the Project.
(J
) The amount and date of any expenditure of funds by the District pursuant to the contract
prior to its submission to the Council for approval: $0
(K
) A certification that the proposed contract is within the appropriated budget authority for the
agency for the fiscal year and is consistent with the financial plan and budget adopted in
accordance with D.C. Official Code §§ 47-392.01 and 47-392.02:
A funding certification for this Project is attached.
(L
) A certification that the contract is legally sufficient, including whether the proposed
contractor has any pending legal claims against the District:
A legal sufficiency certification from the District of Columbia Office of the Attorney General is
attached.
(
M) A certification that Citywide Clean Hands database indicates that the proposed contractor is
current with its District taxes. If the Citywide Clean Hands Database indicates that the
proposed contractor is not current with its District taxes, either: (1) a certification that the
contractor has worked out and is current with a payment schedule approved by the District;
or (2) a certification that the contractor will be current with its District taxes after the District
recovers any outstanding debt as provided under D.C. Official Code § 2-353.01(b):
A certificate of clean hands for Jubilee Housing, Inc. dated February 3, 2025, is attached.
(N
) A certification from the proposed contractor that it is current with its federal taxes, or has
worked out and is current with a payment schedule approved by the federal government:
Jubilee Housing, Inc. has provided the attached verification that it is current with its federal taxes.
(O
) (1) A certification that the proposed contractor has been determined not to be in violation of
section 334a of the Board of Ethics and Government Accountability Establishment and
Comprehensive Ethics Reform Amendment Act of 2011, D.C. Official Code § 1-1163.34a; and
(2) A certification from the proposed contractor that it currently is not and will not be in
violation of section 334a of the Board of Ethics and Government Accountability
Establishment and Comprehensive Ethics Reform Amendment Act of 2011, D.C. Official
Code § 1-1163.34a:
Jubilee Housing, Inc. has provided the attached verification that it is not and will not be in violation
of section 334a of the Board of Ethics and Government Accountability Establishment
Comprehensive Ethics Reform Amendment Act.
4

(P) The status of the proposed contractor as a certified local, small, or disadvantaged business
enterprise as defined in the Small, Local, and Disadvantaged Business Enterprise
Development and Assistance Act of 2005, as amended; D.C. Official Code § 2-218.01 et seq.:
Jubilee is not a certified local, small, or disadvantaged business enterprise.

(Q) Other aspects of the proposed contract that the Chief Procurement Officer considers
significant:
None

(R) A statement indicating whether the proposed contractor is currently debarred from providing
services or goods to the District or federal government, the dates of the debarment, and the
reasons for debarment:
The proposed contractor is not currently debarred from providing services or goods to the
District or federal government. A nondebarment affidavit dated November 2024 is attached.

(S) Any determination and findings issues relating to the contract’s formation, including any
determination and findings made under D.C. Official Code § 2-352.05 (privatization
contracts): None

(T) Where the contract, and any amendments or modifications, if executed, will be made
available online:
The contract summary will be available at www.dhcd.dc.gov.

(U) Where the original solicitation, and any amendments or modifications, will be made available
online:
The original solicitation and any amendments or modifications are available at www.dhcd.dc.gov.

*
*
* GovernmentoftheDistrictofColumbia

HE OfficeoftheChiefFinancialOfficer 11014Street,SWHE OfficeofTaxandRevenue Washington,DC20024
DateofNotice:February3,2025 NoticeNumber:0013149573 =
JUBILEEHOUSINGINC FEIN:**-***62611631EUCLIDSTNW# P-5 CaseID:18441260WASHINGTONDC 20009-5628
CERTIFICATE OF CLEAN HANDS
AsreportedintheCleanHandssystem,theabovereferencedindividual/entityhasnooutstandingliabilitywiththeDistrictofColumbiaOfficeofTaxandRevenueortheDepartmentofEmploymentServices.Asofthedateabove,theindividual/entityhascompliedwithDCCode§47-2862,thereforethisCertificateofCleanHandsisissued.
TITLE 47. TAXATION, LICENSING, PERMITS, ASSESSMENTS, AND FEES
CHAPTER 28 GENERAL LICENSE
SUBCHAPTER II.CLEAN HANDS BEFORE RECEIVING A LICENSE OR PERMIT
D.C. CODE § 47-2862 (2006)
§47-2862PROHIBITIONAGAINST ISSUANCE OF LICENSEOR PERMIT

AuthorizedBy Melinda Jenkins
Branch Chief,Collectionand Enforcement Administration
Tovalidatethiscertificate,pleasevisitMyTax.DC.gov.OntheMyTaxDC homepage,clickthe“Validate a Certificateof Clean Hands” hyperlink under the Clean Hands section.

11014thStreetSW,SuiteW270,Washington,DC20024/Phone:(202)724-S048/MyTax.DCgov
InitialFile#:732820EntityType:Non-ProfitCorporation
GOVERNMENT OF THE DISTRICT OF COLUMBIA
DEPARTMENT OF LICENSINGAND CONSUMER PROTECTION
CORPORATIONS DIVISION
xk kok

CERTIFICATE

THIS IS TO CERTIFY thatallapplicableprovisionsofthe DistrictofColumbiaBus
OrganizationsCode(Title29)havebeencompliedwithandaccordingly,thisCERTIFICATEOF
GOOD STANDING isherebyissuedto
JUBILEEHOUSING Ine.
WE FURTHER CERTIFY thatthe domestic entityis formed under the lawof the Districton
10/25/1973; thatallfees,andpenaltiesowedtotheDistrictforentityfilingscollectedthroughtheMayorhavebeenpaidandPaymentisreflectedintherecordsoftheMayor;Theentity'smostrecentbiennialreportrequiredby§29-102.11hasbeendeliveredforfilingtotheMayor;andtheentityhasnotbeendissolved.Thisofficedoesnothaveanyinformationabouttheentity'sbusinesspracticesandfinancialstandingandthiscertificateshallnotbeconstruedastheentity'sendorsement.
INTESTIMONY WHE!
beaffixedasof10/24/20249:3

F Ihavehereuntosetmy handandcausedthesealofthisofficeto
3AM
BusinessandProfessionalLicensingAdministration
HaitexenGamerREBECCA JANOVICH
SuperintendentofCorporations,
Corporations Division

MurielBowser
Mayor
‘Tracking#:onpK23sj
Government of the District of Columbia
Office of the Chief Financial Officer

Glen Lee
Chief Financial Officer

1350 Pennsylvania Avenue, NW, Suite 203, Washington, DC 20004 (202)727 -2476
www.cfo.dc.gov
MEMORANDUM

TO: The Honorable Phil Mendelson
Chairman, Council of the District of Columbia

FROM: Glen Lee
Chief Financial Officer

DATE: February 6, 2025

SUBJECT: Fiscal Impact Statement – Multiyear Contract No. DHCD-2025-50 with
Jubilee Housing, Inc. Emergency Approval Act of 2025

REFERENCE: Draft Bill as provided to the Office of Revenue Analysis on January 31,
2025

Conclusion

Funds are sufficient in the fiscal year 2025 through fiscal year 2028 budget and financial plan to
implement the bill.

Background

The bill authorizes the Director of the Department of Housing and Community Development (DHCD)
to enter into a 20-year funding contract between Jubilee Housing, Inc. (“Recipient”) and DHCD, to
support the development and operation of an affordable rental housing project1 with support
services for formerly incarcerated residents.

The bill limits the total contract amount to $33.68 million over 20 years. The draft contract is subject
to the availability of appropriated funds throughout the life of the contract. Provided there are
sufficient appropriated funds in a given year, DHCD will make disbursements to the Recipient for
eligible expenses not to exceed the maximum annual amounts outlined in Exhibit B of the draft
contract. The maximum annual amount for Fiscal Year 2025 is $ 1.4 million and grows each year to
$2 million in Fiscal Year 2044.

1 The development is called Jubilee KEP Apartments, located at 1721-1725 Kalorama Road, N.W.
The Honorable Phil Mendelson
FIS: “Multiyear Contract No. DHCD-2025-50 with Jubilee Housing, Inc. Emergency Approval Act of 2025 ”,
Draft bill as provided to the Office of Revenue Analysis on January 31, 2025.
Page 2 of 2

Financial Plan Impact

Funds are sufficient in the fiscal year 2025 through fiscal year 2028 budget and financial plan to
implement the bill. DHCD currently has sufficient recurring funds in the financial plan period to meet
the annual maximum payment amounts in Exhibit B of the draft contract. The availability of funds for
the contract is subject to annual appropriations and continued inclusion in the budget and financial
plan. Maximum authorized disbursements during the current financial plan period are in the chart
below.

Multiyear Contract No. DHCD-2025-50 with Jubilee Housing, Inc.
Emergency Approval Act of 2025
Fiscal Impact FY 2025- FY 2028
($ in thousands)
FY 2025 FY 2026 FY 2027 FY 2028
Four-Year
Total
Maximum
authorized
disbursements per
contract $1,400 $1,427 $1,454 $1,481 $5,762

Agency Code:
Agency Code:
Page 1 of 4
GOVERNMENT OF THE DISTRICT OF COLUMBIA
PROFILE SUMMARY
(CONTRACTs TO PURCHASE, SELL, ACQUIRE, TRANSFER, LEASE OF REAL
PROPERTY/ EXCLUSIVE RIGHT AGREEMENTs/LOANs & GRANTs OVER $1M/INTRA-
DISTRICTs)
Contracting Agency: Dept. Housing and Community Development Agency Code:
Using Agency: Dept. Housing and Community Development Agency Code:
Loan/Grant/Lease Sub-recipient Name: Jubilee Housing, Inc.
Should the D.C. Council have any questions regarding this loan/grant/lease, please contact:
Project Managers: Lisa Williams Telephone Number: (202) 442-7250
TYPE OF DOCUMENT SUBMITTED
1. Loan/Grant/Lease Modification
4. Written or Informal ContractZLWK

-XELOHH+RXVLQJ,QF
2. Exercise of Grant Option Year (E. O.) 5. Lease of Real Property
3. Loan/Grant/Lease Agreement 6. Other:
LOAN/GRANT TYPE
1. Loan Price 4. Cost Reimbursement
2. Grant: 5. Time and Material
3. Task Order 6. Advance Payment
Page 2 of 4
GRANT/LOAN/LEASE INFORMATION
Grant/Loan/Lease No. : _DHCD Amount: $1,400,000 in Locally Appropriated Funds
Interest Rate: n/a
Does this Grant/Loan Amount exceed $1 million: Yes No
If yes, please attach a copy of the DC Council approval and provide the following information:
Date received: N/A Date approved:
LEASE INFORMATION
Lease No.: N/A
Location:
Sq. Ft. Leased:
Total Bldg. Sq. Ft.:
Total Cost
Annual Cost
Cost Per Sq. Ft.
% Sq. Ft. Leased By D.C.
BRIEF DESCRIPTION OF GRANT/LOAN/LEASE
SOURCE OF FUNDING
1. Appropriated 4. Intra-District
2. Capital 5. Inter-Jurisdictional
3. Grant ( ) 6. Other:
If procurement action is funded by grant or other non-capital or non-appropriated funds, will the
District need to expend some portion of its funds prior to receiving funds from the grantor or
other funding source?
Yes X No ͟ N/A
If Yes, indicate the amount the District will need to expend and the percentage this amount
represents of the total funds required to support the effort. District Funds $
% N/A .
Page 3 of 4
CRITICAL ISSUES ASSOCIATED WITH GRANT/LOAN ACTION
1. Is this Grant/Loan one of multiple (more than one) Grants/Loans for similar goods, services, etc.,
awarded by the Agency to this subrecipient, or related entity, within the last twelve (12) months?
2. Have reserved funds been obligated for payment? (If Yes, ensure documentation is included in
Grant/Loan File).
3. Is the File complete? (If Yes, please attach pertinent documentation).
4. Is the subrecipient a successor to or affiliated with another individual or business that has
Grant/Loan with the Agency?
If Yes, name of Predecessor/Affiliate:An affiliate of Jubilee Housing, Inc. owns the Jubilee KEB site but has
not been involved in the development of other DHCD-supported projects. 1RWHWKDW-XELOHHKDVEHHQLQYROYHGLQ
WKHGHYHORSPHQWRIRWKHU'+&'VXSSRUWHGSURMHFWV
5. Is a former District employee an owner, officer, or affiliate of the subrecipient?
If Yes, Name and Affiliation: N/A
Please discuss any other critical issues such as time constraints; health and safety issues; or
financial/revenue production issues that should be known. N/A
FUTURE INFORMATION/DOCUMENTATION TO BE SUBMITTED TO AUTHORITY
IF Grant/Loan IS AWARDED
1. Award Date 4. Claims By/Against Grant/Loan
2. Expiration Date 5. Certified Completion Date
3. Amendments 6. Final Payment Date
Yes No
Yes No
Yes No
Yes No
Yes No
Bethany Spooner
Digitally signed by Bethany Spooner
Date: 2024.12.05 09:26:54 -05'00'
Abukar Abdirahman
Digitally signed by Abukar
Abdirahman
Date: 2024.12.05 17:19:40 -05'00'
on behalf of December 5, 2024
FRQWUDFW
Contract
contract

GOVERNMENT OF THE DISTRICT OF COLUMBIA
OFFICE OF THE ATTORNEY GENERAL

BRIAN L. SCHWALB
ATTORNEY GENERAL

Legal Counsel Division

MEMORANDUM

TO: Tomás Talamante
Director
Office of Policy and Legislative Affairs

FROM: Adele El-Khouri
Deputy Attorney General
Legal Counsel Division

DATE: February 5, 2025

SUBJECT: Legal Sufficiency Review of the Multiyear Contract No. DHCD-2025-50 with Jubilee
Housing, Inc. Emergency Approval Act of 2025 and an Accompanying Emergency
Declaration Resolution
AE-25-086
_____________________________________________________________________________________

This is to Certify that the Office of the Attorney General has reviewed the
“Multiyear Contract No. DHCD-2025-50 with Jubilee Housing, Inc. Emergency Approval Act of
2025” and the accompanying “Multiyear Contract No. DHCD-2025-50 with Jubilee Housing, Inc.
Approval Emergency Declaration Resolution of 2025” and determined that they are legally
sufficient. If you have any questions, please do not hesitate to call me at (202) 262-6402.

_________________________________
Adele El-Khouri

Department of Housing and Community Development
Reentry Housing and Services Program
Long Term Funding Contract (LTFC)
Contract No.
2025-50

LONG TERM FUNDING CONTRACT

This Long Term Funding Contract (“Contract” or “LTFC ”) is entered into between the
Department of Housing and Community Development (“DHCD”) and Jubilee Housing, Inc., a
District of Columbia nonprofit corporation (“Qualified Recipient”).

Recitals

This Agreement is entered into pursuant to the District of Columbia's Reentry Housing and
Services Program (hereinafter referred to as the "Program"), pursuant to the District of Columbia
Community Development Act of 1975 (D.C. Official Code § 6-1001 et seq.), the District of Columbia
Reorganization Plan No. 3 of 1975 and the District of Columbia Reorganization Plan No. 3 of 1975
and the Reentry Housing and Services Program Act of 2021, D.C. Law 24-45, D.C. Official Code §§
42-2231 - 42-2232 (2024)., as amended or as provided in subsequent appropriation authority of the
District of Columbia (the “Act”).

The Program has been established to provide funding for funding for development and
operation of rental housing, designed primarily to help formerly incarcerated residents of the District
of Columbia to maintain housing, including coordination or case management, physical and mental
health support services, substance use management and recovery support, job training, literacy and
education, youth and children’s programs, and money management skills. Now therefore, the Owner
and DHCD enter into this LTFC, which will allow the Owner to receive Program payments from the
DHCD in accordance with the following terms and conditions.

1. General Provisions

1.1. Contract Information and Description of Property.

A. Parties. The parties to this Long Term Funding Contract (“Contract” or “LTFC”) are the
District of Columbia Department of Housing and Community Development and Qualified
Recipient.

B. Property Name: Jubilee KEB Apartments

C. Property Address: 1721- 1725 Kalorama Road, NW, Washington DC 20009.

D. Project: Development of Jubilee KEB Apartments

D. Contents of the Contract: This is a LTFC between DHCD and Qualified Recipient for the
Program as defined below in Section 2. The LTFC consists of this contract and the following
exhibits:

Exhibit A: Property Description

Exhibit B: Projected Program disbursement schedule

Exhibit C: Statement of Work and Eligible Activities (permitted uses of proceeds)

Exhibit D: Project Development Budget

Exhibit E: Property Insurance Requirements

Exhibit F: DHCD Monitoring Requirements and DHCD Monitoring Details for KEB

1.2. [Reserved]

1.3. Term of LTFC.

1.3.1. Beginning Term: February ___, 2025

1.3.2. Length of Term: 20 years

A. The length of the term of this LTFC is twenty (20) years, subject to availability,
as determined by DHCD in accordance with the Act and rules and regulations,
applicable to the Program, of sufficient appropriated funds from the District of
Columbia to make Funding Payments (as defined in Section 2 below) in
accordance with th is LTFC and compliance by Qualified Recipient with the
terms of this LTFC , and the rules, regulations and laws applicable to the
Program.

B. Subject to the availability of sufficient appropriated funds from the District of
Columbia and Qualified Recipient’s compliance with the terms of th is LTFC
and all applicable laws, rules, and regulations applicable to the Program, After
expiration of the term, Qualified Recipient may request in writing that DHCD
provide subsequent renewals of the term of the LTFC.

C. If sufficient appropriated funds are not available at any time during the term
of this LTFC, DHCD will not make Funding Payments during such period of
unavailability of appropriated funds.

D. Any r enewal of th is LTFC is subject to the availability of funds from the
District of Columbia and the Owner’s compliance with the terms of this LTFC
and all applicable laws, rules and regulations.

1.4 Affordability Requirement of LTFC.

1.4.1 Affordability Period: 40 years

A. During the Affordability Period, each residential unit shall be reserved for and leased
to the Target Population at the applicable household income limit for such unit and at
rents that are affordable pursuant to the Affordable Housing Covenant

2. Definitions

Affordable Housing Covenant. That certain Affordable Housing Covenant by KEB Owner for the
benefit of DHCD, which sets forth Borrower’s covenants to rent the Affordable Units to qualified
tenants in accordance with the Program requirements and the LTFC, which agreement shall be
recorded against the Property as a covenant running with the land.
Area Median Income (“AMI”) . The median household income for the Washington Metropolitan
Statistical Area, adjusted for smaller and larger families, as set forth in the periodic calculation
provided by the United States Department of Housing and Urban Development (“HUD”).

Extremely Low Income. Having household income at or below 30% of AMI.

Funding Payments. Payments made by DHCD to Qualified Recipient in accordance with Section
5.3 hereof.

KEB Owner . Jubilee KEB Apartments LP, a limited partnership formed under the laws of
Washington, DC.

KEB Property. a housing project to be known as “Jubilee KEB Apartments” located at 1721- 1725
Kalorama Road, NW, Washington DC 20009.

Low Income. Having household income at or below 60% of AMI.

LTFC. This long term contract between DHCD and Qualified Recipient . The LTFC consists of the
contract and the exhibits referenced in Section 1.1.

Ontario Owner. Jubilee Ontario Place LP, a limited partnership formed under the laws of
Washington, DC.

Ontario Property. a housing project to be known as Ontario Place Apartments, located at 2400
Ontario Road NW, Washington, DC 20009.

Principal or Interested Party. A management agent and other person or entities participating in
project management or project development and the officers, principal members, shareholders,
investors, and other parties having a substantial interest in this LTFC, or in any proceeds or benefits
arising from this LTFC.

Program. District of Columbia's Reentry Housing and Services Program (hereinafter referred to as
the "Program"), pursuant to the District of Columbia Community Development Act of 1975 (D.C.
Official Code § 6-1001 et seq.), the District of Columbia Reorganization Plan No. 3 of 1975 and the
District of Columbia Reorganization Plan No. 3 of 1975 and the Reentry Housing and Services
Program Act of 2021, D.C. Law 24-45, D.C. Official Code §§ 42-2231 - 42-2232 (2024).

Project Owner. the KEB Owner.

Returning Citizens. Previously incarcerated individuals who are residents of the District of
Columbia.

Target Population. Extremely Low Income, Very Low Income and Low Income Returning
Citizens.

Very Low Income. Having household income at or below 50% of AMI.

3. Purpose

A. This is an LTFC between DHCD and the Qualified Recipient.

B. The purpose of the LTFC is to provide Program funding for use in developing
and operating the Project , and services, for the benefit of members of the
Target Population.

4. Documentation, Records and Suspension

A. All costs and obligations for which Funding Payments are expended under this
Agreement must be supported by source documentation, to include but not limited to,
invoices, certified payroll reports, and contracts evidencing costs of the Project
operation and resident services. Qualified Recipient must satisfy all documentary
requirements to the reasonable satisfaction of the DHCD.

B. Records Maintenance. The Qualified Recipient shall or shall cause each Project
Owner to retain all records pertinent to this agreement for a period of three (3) years
after funding closeout. Notwithstanding the foregoing, if any litigation, claim or
audit is initiated before the expiration of the 3-year period, those records shall be
retained for a period of not less than three (3) years after completion of the actions
and resolution of all proceedings involving the records.

C. Client Data Files. Qualified Recipient shall or shall cause Project Owner to ensure
data files are maintained in a secure manner to prevent disclosure of information
that is protected under applicable privacy laws.

D. Access to Records. All Qualified Recipient or Project Owner books, accounts,
records, reports, files and papers pertaining to any matter covered by this Agreement
or the use of the Funding Payments shall be made available to the DHCD, its
designee, representatives of the Inspector General of the District of Columbia or the
D.C. Auditor at any time during normal business hours and upon reasonable
advance notice, as often as the Department deems necessary, to audit, monitor,
examine, and make excerpt or transcripts of all relevant data.

E. In the event that the Qualified Recipient or Project Owner has not demonstrated
satisfactory performance or financial accountability or is not in compliance with this
Agreement and applicable District laws and regulations, DHCD may, at its discretion,
suspend funding to Qualified Recipient.

5. Funding Payments

5.1 [Reserved]

5.2. Program Disbursement Limits.

A. Notwithstanding any other provision of the LTFC, the Funding Payments paid
to Qualified Recipient may in no event exceed the amount authorized in
accordance with the rules, regulations and laws applicable to the Program.

B. DHCD has the right to reduce the Funding Payments to Qualified Recipient,
at any time, to correct any errors in disbursement in accordance with Program
requirements. DHCD may recover any overpayment from Qualified Recipient.

C. Notwithstanding anything contained in this Agreement to the contrary,
DHCD’s obligations or liabilities which may be hereunder described or
otherwise contemplated shall be limited and restricted to the requirements of
the proper appropriations in compliance with the Anti-Deficiency Act,
prescribed under 31 U.S.C. §§ 1341, 1342, 1349 and 1351, as applicable to the
District of Columbia under D.C. Official Code § 47- 105 (2001 ed.). No
provision contained in this Agreement shall be construed as a multi - year
financial obligation to the Qualified Recipient on the part of the District so as
to cause a violation of the Anti-Deficiency Act.

5.3. Payments to Qualified Recipient.

5.3.1. DHCD agrees to make Funding Payments to Qualified Recipient, in accordance with
this LTFC and the laws, rules and regulations applicable to the Program during the
LTFC term, not to exceed the least of (i) amounts provided in Exhibit B and (ii)
Qualified Recipient’s request, and proceeds shall only be expended in payment costs
and expenses consistent with the Statement of Work and Eligible Activities at Exhibit
C and shall be held in a non interest -bearing account by Qualified Recipient or KEB
Owner until expended, and (iii) $700,000.00 (in any year prior to the fir st twelve
month anniversary of KEB Property initial tenancy).

A. To receive Funding Payments in accordance with th is LTFC, the Qualified
Recipient must comply with all provisions of this LTFC and the rules,
regulations, and laws applicable to the Program . Unless the Qualified
Recipient and Project Owner comply with all provisions of the LTFC and the
rules, regulations and laws applicable to the Program, the Qualified Recipient
does not have a right to receive Funding Payments from DHCD.

B. If DHCD determines that the Qualified Recipient is not entitled to the payment
of any part of the Funding Payments, DHCD, in addition to other remedies
which may be available at law or in equity, may deduct the amount of the
overpayment from any amounts due Qualified Recipient, including amounts
due under this LTFC.

C. The Qualified Recipient will notify DHCD promptly of any change of
circumstances that would affect the amount of the Funding Payments payable
from DHCD to Qualified Recipient, and will return any payment that does not
conform to the changed circumstances.

5.3.2. Payment of Rent.

DHCD is not responsible for paying any part of tenant rent that may be or become due
to Project Owner, or for paying any other claim by the Project Owner against a tenant.
DHCD is only responsible for paying the Funding Payments to Qualified Recipient in
accordance with this LTFC in accordance with this LTFC and rules, regulations and
laws applicable to the Program.

5.4. Performance Evaluation/Termination of Assistance/Default

In order to assess LTFC performance, DHCD will monitor funded activities to ensure that
the Program requirements applicable to the Property are achieved. Monitoring and
evaluation shall include, but not be limited to on-site inspections and review of Property
records.

A. Availability of Records. All records relating to any matter covered by this Agreement
shall be made available to DHCD, or its designee, or any representative of the District
of Columbia Auditor or Office of the Inspector General at any time during normal
business hours and upon reasonable advance notice, as often as DHCD deems
necessary to audit, monitor, examine and make excerpt or transcripts of all relevant
data.

B. Suspension or Termination of Assistance. Suspension or termination of Funding
Payments may occur according to the Default provision in subsection C below in the
event that DHCD, in its sole and reasonable discretion, is not satisfied with the best
efforts by the Qualified Recipient to cure any default in a timely manner.

C. Default. Material failure by the Qualified Recipient or the Project Owner, and their
agents to comply fully with the terms, conditions and covenants of this Agreement, or
any other agreements executed as part of, related to or as a direct consequence of this
Agreement, as such material failure is determined in the sole and reasonable discretion
of DHCD, shall constitute a default hereunder.

If a default is not cured or remedied according to a time limit established by DHCD in
its sole and reasonable discretion, but in no event less than thirty (30) days of written
notice to the Qualified Recipient, such default shall result in the termination and
suspension of any further disbursement of any Funding Payments in the possession of
the Qualified Recipient. In addition, DHCD may utilize any and all available legal and
equitable remedies, provided that Qualified Recipient will have additional time to cure
any default that is not susceptible to cure within 30 days, so long as it has commenced
and is diligently pursuing such cure. Any partner or member of a Project Owner has
the right to cure a default on the same terms as the Qualified Recipient.

D. Reversion to DHCD of Assistance. Upon default by the Qualified Recipient or the
Project Owner under the terms of Section C above, which has not been cured in
accordance with the time periods provided in Section C, the Qualified Recipient shall
transfer, or shall cause the Project Owner to transfer, to DHCD, upon receipt of
DHCD's written request, any Program funds in its possession, or in the possession of
the Project Owner, (whether or not committed) and any accounts receivable
attributable to the use of the Program funds.

Moreover, upon expiration of the term of this Agreement, or other termination of this
Agreement, the Qualified Recipient shall transfer, or shall cause the Project Owner to
transfer, any unspent, excess or surplus Program funds to DHCD upon request.

E. Waiver. DHCD’s delay or failure to act with respect to a breach by the Qualified
Recipient or the Project Owner does not waive DHCD’s right to act with respect to
subsequent or similar breaches. The failure of DHCD to exercise or enforce any right
or provision shall not constitute a waiver of such right or provision.

F. Assumption of Agreement. Notwithstanding the foregoing, in the event of insolvency
of Qualified Recipient, or default hereunder, prior to DHCD suspension or termination
of Funding Payments, KEB Owner and any first lien mortgage lender for the KEB
Property (“KEB Lender”) shall be permitted an opportunity to cure any such default,
and any said curing party shall be further permitted to obtain assumption of this
Agreement by a nonprofit organization, active in provision of affordable housing in the
District of Columbia, reasonably acceptable to DHCD, for the purpose of ensuring
continuation of funding to the Property.

6. Adjustment and Limitations of Payments to Qualified Recipient

6.1. Subject to the availability of funds appropriated and received from the District of Columbia,
upon the Qualified Recipient satisfying all requirements of DHCD for receipt of Funding
Payments, including all applicable laws, Program requirements, rules and regulations
applicable to the Program, including the rules and regulations applicable to the Program,
DHCD's obligation to provide funding for years following the initial year of this LTFC shall
be subject to the availability of appropriations in each subsequent fiscal year. If sufficient
funds are not available during the term of this agreement, the DHCD shall advise Qualified
Recipient in writing at least 30 days prior to the beginning of t he next fiscal year. If
appropriated funding is available for the next fiscal year, subject to satisfactory LTFC
performance as determined by DHCD, funds for the next fiscal year shall be disbursed in the
amounts and on the dates provided in Exhibit B hereto.

6.2 Maximum Payment.

In addition to limitations contained in Section 5.3.1 hereof, Funding Payments, as may be
adjusted from time to time by DHCD in accordance with this LTFC, may at no time exceed
the amounts provided in Exhibit B hereto, said exhibit providing the schedule of maximum
Funding Payments that may be received.

6.3. No Special Adjustment.

DHCD will not make any special adjustments of Funding Payments.

6.4. Owner Compliance with the LTFC.

DHCD shall not approve, and the Qualified Recipient shall not receive, any increase of
Funding Payments other than in strict accordance with this LTFC.

6.5. District Funding Availability . Qualified Recipient hereby acknowledges and agrees that
DHCD’s obligations under this LTFC are subject to the availability of sufficient
appropriations from the District of Columbia. If there is a reduction in appropriations to the
Program that will result in a reduction of Funding Payments to Qualified Recipient. DHCD
will provide written notice of such reduction to the Qualified Recipient.

7. Owner Responsibility

The Qualified Recipient is responsible for providing or causing to be provided services to the
Target Population, which may include on- site services in connection with helping tenants
maintain housing, including coordination or case management, physical and mental health
support, substance use management and recovery support, job training, literacy and education,
youth and children’s programs, and money management.

8. Qualified Recipient Certifications

Qualified Recipient certifies that at all times during the term of the LTFC:

A. All Project units will be maintained in good, safe, sanitary, and tenantable
conditions.

B. The Project Owner shall provide, or cause to be provided, all the services,
maintenance and utilities as agreed to under the LTFC and the leases with
residential tenants.

C. Each residential unit shall have an automatic sprinkler system or smoke
detectors in proper condition in compliance with the Fire Administration
Authorization Act of 1992.

D. Each residential unit and the Project shall be in compliance with all applicable
Lead-Based Paint regulations.

E. The Project Owner has complied and will continue to comply with all
applicable federal and local laws, regulations, and other requirements.

9. Prohibition of Discrimination

A. The Project Owner must comply with the following requirements:

i. The Fair Housing Act (42 U.S.C. §§ 3610 – 3619) and implementing
regulations at 24 CFR parts 100, et seq;

ii. Executive Orders 11063, 12259, and 12892 (Equal Opportunity in
Housing) and implementing regulations at 24 CFR part 107;

iii. Title VI of the Civil Rights Act of 1964 (42 U.S.C. §§ 2000d – 2000d-
4) (prohibition of discrimination in federally assisted programs) and
implementing regulations at 24 CFR part 1;

iv. The Age Discrimination Act of 1975 (42 U.S.C. §§ 6101 – 6107) and
implementing regulations at 24 CFR part 146;

v. Section 504 of the Rehabilitation Act of 1973 implementing
regulations at 24 CFR part 8;

vi. Executive Orders 11625, 12138, and 12432 (promoting minority and
women’s business enterprise);

vii. Title II of the American with Disabilities Act (42 U.S.C. §§ 12101, et
seq.) (prohibition of employment discrimination because of disability)
and the fair housing advertising poster guidelines at 24 CFR part 110;
and

viii. All applicable federal and District laws, rules and regulations.

B. DHCD and the Project Owner must comply with the Program in conducting
compliance reviews and complaint investigations pursuant to all applicable
civil rights statutes, Executive Orders, and all related rules and regulations,
including any reviews or investigations by the District of Columbia.

10. Duty to Provide Information and Access Required by DHCD

10.1. Required Information.

Qualified Recipient must prepare or obtain and furnish any information pertinent to the LTFC
as may reasonably be required from time to time by DHCD. Qualified Recipient shall furnish
such information in the form and manner required by DHCD.

10.2. DHCD Access to Project.

Qualified Recipient must permit DHCD or any other authorized representatives to have access
to any books, documents, papers, and records of the to the extent necessary to determine
compliance with the LTFC, including the verification of information pertinent to the use of
Funding Payments, services provided to the Target Population, or this LTFC.

11. DHCD and Owner Relation to Third Parties

11.1. Legal Relationship.

The Qualified Recipient is not the agent of DHCD. The LTFC does not create or affect any
relationship between DHCD and any lender to the Qualified Recipient or any suppliers,
employees, contractors or subcontractors used by the Qualified Recipient or the Project
Owner in connection with the implementation of the LTFC.

11.2. Exclusion of Third Party Claims.

Nothing in the LTFC shall be construed as creating any right of a tenant or other third party
to enforce any provision of the LTFC , or to assert any claim against DHCD, the Qualified
Recipient or the Project Owner.

12. Conflict of Interest

12.1. Interest of Members, Officers, or Employees of DHCD, or Other Public Officials.

No present or former member or officer of DHCD (except tenant commissioners), no
employee of DHCD who formulates policy or influences decisions with respect to the
Program and no public official or member of a governing body or District legislator who
exercises functions or responsibilities with respect to the Program, shall have any direct or
indirect interest, during his or her tenure or for one year thereafter, in the LTFC.
12.2. Disclosure.
Qu
alified Recipient has disclosed to DHCD any interest that would be a violation of the
Agreement or the LTFC . Qualified Recipient must fully and promptly update such
disclosures.
12.3. Interest of Member of or Delegate to Congress.
No m
ember of or delegate to the Congress of the United States of America or resident
commissioner shall be admitted to any share or part of this contract or to any benefits arising
from the LTFC.
13.
Exclusion from Local and Federal Programs
13.1. [
Reserved]
13.2. Disclosure. Qualified Recipient certifies that neither the Qualified Recipient nor Project
Owner nor any P rincipal thereof is on a District list or federal list of parties excluded from
District or federal procurement and nonprocurement programs.
14.
Nonassignability and Organizational Changes.
14.1.
Qualified Recipient shall not sell, assign, pledge (except to KEB Lender) or otherwise transfer
any of its interest in this Agreement without the prior written consent of the District.
14.2.
The Qualified Recipient shall notify DHCD in writing within thirty (30) days of change,
amendment, modification or alteration of its corporate charter, by- laws, non- profit status,
organization, governance, or any other matter affecting its status or operations during the term
of this Agreement.
15. Administrative Requirements. The Qualified Recipient shall comply with and shall cause the
Project Owner to comply with all uniform administrative requirements as deemed applicable
by DHCD, to include but not limited to 2 CFR part 200. Qualified Recipient shall also comply
with and shall cause the Project Owner to comply with all administrative standards and
program requirements established by DHCD, in addition to the monitoring requirements listed
in Exhibit F.
16. N
otice and Certifications
Whe
re either party is required to give notice pursuant to the LTFC , such notice shall be sent
in writing via first class mail deposited with the U.S. Postal Service, via overnight delivery,
via electronic mail or via facsimile. Any notices required herein shall be sent to the
appropriate addresses listed below. The addresses set forth below may only be changed by
written notice to the other party.
NOTICE TO DHCD:
District of Columbia Department of Housing and Community
Development 1909 Martin Luther King Jr. Avenue, S.E.
Washington, D.C. 20020
Attn: Dir ector
with a copy to:
District of Columbia Department of Housing and Community
Development 1909 Martin Luther King Jr. Avenue, S.E.
Washington, D.C. 20020
Attn: General Counsel
NOTICE TO THE QUAL
IFIED RECIPIENT:
Jubilee Housing, Inc.
1631 Euclid St. NW #P-5
Washington, DC 20009
Attn: James Knight
with a copy to:
c/o Red Stone Equity Partners, LLC
90 Park Avenue, 28th Floor
New York, NY 10016
Attention: General Counsel and President
17. In
demnification
Qu
alified Recipient, for itself and its successors and assigns, does hereby agree to and
shall hold harmless and indemnify DHCD from and against any and all losses, claims, or
injuries, arising from this LTFC, except for losses, claims or injuries caused by the gross
negligence of DHCD, its designees or representatives.
18. En
tire Agreement
This LTF
C, including the exhibits, constitute the entire agreement between DHCD and the
Qualified Recipient. Except as expressly provided for in this LTFC, no changes to the LTFC
may be made except in writing, signed by both the Qualified Recipient and DHCD.
19. Co
unterparts
Thi
s Long Term Funding Contract may be executed in counterparts, each of which shall be
an original, but all of which shall constitute one agreement.
Re
mainder of Page Left Blank Intentionally

Department of Housing and Community Development
Reentry Housing and Services Program
Long Term Funding Contract (LTFC)

IN WITNESS WHEREOF, the Qualified Recipient and DHCD have caused this Long Term
Funding Contract to be executed and attested by their respective duly authorized representatives.

QUALIFIED RECIPIENT:

WITNESSED/ATTESTED BY:
JUBILEE HOUSING, INC.,
a District of Columbia nonprofit corporation

By:
James Knight
President

____________________________
Secretary

(CORPORATE SEAL)

CONSENTED TO BY JUBILEE KEB APARTMENTS LP

PROJECT OWNER:

JUBILEE KEB APARTMENTS LP,
a District of Columbia limited partnership

By: Jubilee KEB GP LLC,
a District of Columbia limited liability
company,
its General Partner

By: ____________________________
James Knight
E x e c u t i v e M a n a g e r

Department of Housing and Community Development
Reentry Housing and Services Program
Long Term Funding Contract (LTFC)

WITNESSED BY: DISTRICT OF COLUMBIA, a municipal
corporation, acting by and through the
DEPARTMENT OF HOUSING AND
COMMUNITY DEVELOPMENT

Name:________________

Approved as to Legal
Sufficiency

Office of the General
Counsel
Department of Housing
and Community
Development

By: (Seal)
Colleen Green
Director

Date

Date

EXHIBIT A
PROPERTY DESCRIPTION
LEGAL DESCRIPTION

EXHIBIT B
PROJECTED DISBURSEMENT SCHEDULE
Subject to appropriated funding availability for each fiscal year and
agreement compliance as determined by the DHCD.
FY 2025: 2/28/2025 $ 700,000
FY 2025: 5/1/2025 $ 700,000
FY 2026: 11/1/2025 $ 713,300
FY 2026: 5/1/2026 $ 713,300
FY 2027: 11/1/2026 $ 726,853
FY 2027: 5/1/2027 $ 726,853
FY 2028: 11/1/2027 $ 740,663
FY 2028: 5/1/2028 $ 740,663
FY 2029: 11/1/2028 $ 754,735
FY 2029: 5/1/2029 $ 754,735
FY 2030: 11/1/2029 $ 769,075
FY 2030: 5/1/2030 $ 769,075
FY 2031: 11/1/2030 $ 783,688
FY 2031: 5/1/2031 $ 783,688
FY 2032: 11/1/2031 $ 798,578
FY 2032: 5/1/2032 $ 798,578
FY 2033: 11/1/2032 $ 813,751
FY 2033: 5/1/2033 $ 813,751
FY 2034: 11/1/2033 $ 829,212
FY 2034: 5/1/2034 $ 829,212
FY 2035: 11/1/2034 $ 844,967
FY 2035: 5/1/2035 $ 844,967
FY 2036: 11/1/2035 $ 861,022
FY 2036: 5/1/2036 $ 861,022
FY 2037: 11/1/2036 $ 877,381
FY 2037: 5/1/2037 $ 877,381
FY 2038: 11/1/2037 $ 894,051
FY 2038: 5/1/2038 $ 894,051
FY 2039: 11/1/2038 $ 911,038
FY 2039: 5/1/2039 $ 911,038
FY 2040: 11/1/2039 $ 928,348
FY 2040: 5/1/2040 $ 928,348
FY 2041: 11/1/2040 $ 945,987
FY 2041: 5/1/2041 $ 945,987
FY 2042: 11/1/2041 $ 963,960
FY 2042: 5/1/2042 $ 963,960
FY 2043: 11/1/2042 $ 982,276
FY 2043: 5/1/2043 $ 982,276
FY 2044: 11/1/2043 $ 1,000,939
FY 2044: 5/1/2044 $ 1,000,939
EXHIBIT C
STATEMENT OF WORK AND ELIGIBLE ACTIVITIES
P
ayment of development and operating costs of the KEB Property
• Payment of construction and development costs of the KEB Property
• Payment of operating and maintenance expenses (and reserves therefor) of the KEB Property;
Payment for services to the Target Population
• Payment of KEB Owner asset management and development fees;
• Payment of costs and expenses of Social Services provided to low and very low -income tenants of the
Ontario Property and the KEB Property;
Payment of debt service for mortgage loans incurred by the KEB Property for development costs
and lender required reserves, including
• That $9,750,000 mortgage loan made by United Church of Christ Cornerstone Fund, Inc., an Indiana
nonprofit corporation;
• That $3,000,000 mortgage loan made by Green Finance Authority, and instrumentality of the District
of Columbia;
• That $1,925,000 mortgage loan made by Jubilee Housing Inc.; and
• Such other mortgage loans approved by DHCD.
D
epartment of Housing and Community Development
Reentry Housing and Services Program
19
EXHIBIT D
PROJECT DEVELOPMENT BUDGET
DHCD Form 202 (rev. November 2021)
SUMMARY SOURCES AND USES OF FUNDS
Use Amount $/Unit $/NSF %
Total Acquisition Costs $ 3,362,551 $ 186,808 $ 232.08 15.60%
Total Construction Costs $ 9,478,795 $ 526,600 $ 654.21 43.97%
Total Soft Costs $ 2,357,196 $ 130,955 $ 162.69 10.93%
Total Financing Costs $ 3,160,648 $ 175,592 $ 218.14 14.66%
Total Developer's Fee $ 400,000 $ 22,222 $ 27.61 1.86%
Total Reserves and Escrows $ 2,800,000 $ 155,556 $ 193.25 12.99%
Total Construction Uses $ 21,559,190 $ 1,197,733 $ 1,487.97 100%
Use Amount $/Unit $/NSF %
Total Acquisition Costs $ 3,362,551 $ 186,808 $ 232.08 14.31%
Total Construction Costs $ 9,478,795 $ 526,600 $ 654.21 40.34%
Total Soft Costs $ 2,357,196 $ 130,955 $ 162.69 10.03%
Total Financing Costs $ 3,160,648 $ 175,592 $ 218.14 13.45%
Total Developer's Fee $ 1,720,571 $ 95,587 $ 118.75 7.32%
Total Reserves and Escrows $ 3,414,710 $ 189,706 $ 235.68 14.53%
Total Permanent Uses $ 23,494,471 $ 1,305,248 $ 1,621.54 100.00%
KEB PERMANENT SOURCES AND USES
CONSTRUCTION SOURCES AND USES
Source Amount $/Unit $/SF %
First Mortgage/Bonds $ 10,591,284.79 $ 588,405 $ 730.99 49.13%
DHCD $ - $ - $ - 0.00%
Other District Sources $ - $ - 0.00%
Other Const Debt Sources $ 6,105,591.75 $ 339,200 $ 421.39 28.32%
Federal LIHTC Equity $ 1,869,813.00 $ 103,879 $ 129.05 8.67%
DC LIHTC Equity $ 192,500.00 $ 10,694 $ 13.29 0.89%
HTC Equity $ - $ - 0.00%
Other Const Equity Sources $ 2,800,000.00 $ 155,556 $ 193.25 12.99%
Total Construction Sources $ 21,559,190 $ 1,197,733 $ 1,487.97 100.00%
Source Amount $/Unit $/SF %
First Mortgage $ 3,314,815 $ 184,156 $ 228.78 14.11%
Deferred Developer Fee $ 355,592 $ 19,755 $ 24.54 1.51%
Other Residential Debt/Grants $ 5,750,000 $ 319,444 $ 396.85 24.47%
Federal LIHTC Equity $ 9,349,065 $ 519,393 $ 645.25 39.79%
DC LIHTC Equity $ 1,925,000 $ 106,944 $ 132.86 8.19%
Other Equity Sources $ 2,800,000 $ 155,556 $ 193.25 11.92%
Maximum DHCD Loan $ - $ - $ - 0.00%
Total Permanent Sources $ 23,494,471 $ 1,305,248.40 $ 1,621.54 100.00%
DHCD- DEVELOPMENT BUDGET
TOTAL DEVELOPMENT COSTS Total Residential Units Total Gross Square Footage
Type of Uses Total Budgeted
Cost % of Cost Cost per sq
ft Cost per unit
Residential RESIDENTIAL Non-
Residential
Percentage Percentage
Sources for DHCD Eligible Units/Uses
Source: Source: Source: Source: Source: Source:
100.0%
First Mortgage Fed LIHTC DC LIHTC DHCD Jubilee Deferred Fee
ACQUISITION
Building Acquisition $705,000 21% $49 $39,167 $705,000 $3,000,000 -$2,295,000
Land Acquisition $1,645,000 49% $114 $91,389 $1,645,000 $3,314,815 -$1,669,815
Carrying Costs $712,551 21% $49 $39,586 $712,551 $712,551
Other Acquisition Costs 1 $300,000 9% $21 $16,667 $300,000 $300,000
Total Acquisition Costs $3,362,551 14% $232 $186,808 $3,362,551 $3,314,815 $3,000,000 -$2,952,264
CONSTRUCTION
Construction Costs $7,002,373 74% $483 $389,021 $7,002,373 $1,354,799 -$54,690 $5,702,264
Site work (Incl. Public Work)
Environmental Remediation
Profit $420,142 4% $29 $23,341 $420,142 $420,142
Overhead $140,047 1% $10 $7,780 $140,047 $140,047
General Conditions/Requirements $534,304 6% $37 $29,684 $534,304 $534,304
Builders Risk Insurance
Bond Premium
Contingency $1,236,365 15% $85 $68,687 $1,236,365 $1,236,365
Liability Insurance $72,456 1% $5 $4,025 $72,456 $72,456
Cost Cert $7,500 0% $1 $417 $7,500 $7,500
P*P Bonds $65,608 1% $5 $3,645 $65,608 $65,608
Subcontractor Bonds
Cost Escalation
Total Construction Costs $9,478,795 40% $654 $526,600 $9,478,795 $3,831,221 -$54,690 $5,702,264
SOFT COSTS
Architect & Engineer $560,620 24% $39 $31,146 $560,620 $560,620
Architect & Engineer Supervision
A&E Reimbursables (Cost Review, LEED)
Owner's Rep (Construction Monitoring) $189,576 8% $13 $10,532 $189,576 $189,576
Borrower Legal $300,000 13% $21 $16,667 $300,000 $300,000
Appraisal $20,000 1% $1 $1,111 $20,000 $20,000
Permits and Tap Fees (Incl Expediter) $442,500 19% $31 $24,583 $442,500 $442,500
Market Study $7,500 0% $1 $417 $7,500 $7,500
Environmental & Soil Reports $20,000 1% $1 $1,111 $20,000 $20,000
Testing and Inspection $20,000 1% $1 $1,111 $20,000 $20,000
Title, Transfer and Recordation $50,000 2% $3 $2,778 $50,000 $50,000
Interim Insurance $202,000 9% $14 $11,222 $202,000 $202,000
Interim Taxes
Accounting Fees & Cost Certification $25,000 1% $2 $1,389 $25,000 $25,000
Marketing $20,000 1% $1 $1,111 $20,000 $20,000
Survey $10,000 0% $1 $556 $10,000 $10,000
FFE $140,000 6% $10 $7,778 $140,000 $140,000
Tenant Improvements
Utility Connection Fees
Soft Cost Contingency $250,000 12% $17 $13,889 $250,000 $250,000
Environmental Remediation
Security + Low Voltage
Solar $100,000 4% $7 $5,556 $100,000 $100,000
Other Soft Cost 4
Other Soft Cost 5
Total Soft Costs $2,357,196 10% $163 $130,955 $2,357,196 $2,357,196
DCHFA FINANCING COSTS
DCHFA Bond Application Fee
DCHFA McKinney Application Fee
DCHFA McKinney Financing Fee
DCHFA Financing Fee
DCHFA Construction Monitoring Fee
DCHFA QPP Fee
DCHFA Issuer's Counsel Fee
DCHFA Issuer Fee (ST Bonds)
DCHFA Issuer Fee (LT Bonds)
DCHFA LIHTC Allocation Fee
KEB DCHFA
Total DCHFA Financing Costs
OTHER FINANCING COSTS
DHCD LIHTC Allocation Fee $110,000 3% $8 $6,111 $110,000 $110,000
DC LIHTC Fee $27,500 1% $2 $1,528 $27,500 $27,500
Bond Counsel
Bond Purchaser's Counsel
Underwriter Fee
Underwriter's Counsel
Trustee Setup Fee/Legal
Rating Agency/Printing Fee
Negative Arbitrage
Tax Credit Fees/Legal $100,000 3% $7 $5,556 $100,000 $100,000
Construction Period Intererst Capitalized $1,900,000 60% $131 $105,556 $1,900,000 $1,900,000
Construction LoC Fee
Construction LoC Annual Fee
Construction Lender's Fee $90,000 3% $6 $5,000 $90,000 $90,000
Construction Lender's Counsel $50,000 2% $3 $2,778 $50,000 $50,000
Construction Lender's Inspection Fee
Conversion Fee
Permanent Lender Financing Fee $53,148 2% $4 $2,953 $53,148 $53,148
Permanent Lender Inspection Fee $50,000 2% $3 $2,778 $50,000 $50,000
Permanent Lender Counsel Fee $50,000 2% $3 $2,778 $50,000 $50,000
Financial Advisor $300,000 9% $21 $16,667 $300,000 $300,000
Cash Flow Verification Analyst
GIC Brokerage Fee
Predevelopment Lender Fees/Interest
Financing Contingency $200,000 6% $14 $11,111 $200,000 $200,000
Acrrued Interest
FHLB $125,000 4% $9 $6,944 $125,000 $125,000
DC Green Bank $55,000 2% $4 $3,056 $55,000 $55,000
State LIHTC Equity Legal $25,000 1% $2 $1,389 $25,000
Cornerstone Housing Legal/Fees $25,000 1% $2 $1,389 $25,000
Total Other Financing Costs $3,160,648 13% $218 $175,592 $3,160,648 $3,110,648
DEVELOPER'S FEE
Fee on Non-Acquisition Costs $1,552,444 7% $107 $86,247 $1,552,444 $1,196,852 $355,592
Fee on Acquisition Costs $168,128 1% $9,340 $168,128 $168,128
Total Developer's Fee $1,720,571 7% $95,587 $1,720,571 $1,364,980 $355,592
RESERVES AND ESCROWS (funded amounts only)
Operating Reserve $324,171 9% $22 $18,010 $324,171 $324,171
Lease Up Reserve $162,086 5% $11 $9,005 $162,086 $162,086
Replacement Reserve Deposit (Initial Payment) $6,300 0% $0 $350 $6,300 $6,300
Debt Service Reserve $122,154 4% $8 $6,786 $122,154 $122,154
Capitalized Operating Reserves $2,800,000 82% $193 $155,556 $2,800,000 $2,800,000
Other Reserve 2
Other Reserve 3
Other Reserve 4
Other Reserve 5
Total Reserves and Escrows $3,414,710 15% $236 $189,706 $3,414,710 $614,710 $2,800,000
TOTAL USES OF FUNDS $23,494,471 100% $ 1,502.79 $ 1,305,248.40 $23,494,471 $3,314,815 $9,299,065 $1,925,000 $3,000,000 $5,550,000 $355,592
14,489 18
EXHIBIT E
QUARTERLY REPORT
(form to be determined prior to closing)
EXHIBIT F
ANNUAL REPORT
(form to be determined prior to closing)
EXHIBIT G
INSURANCE
A. GE
NERAL REQUIREMENTS. The Grantee and Project Owner (for the purposes this
Exhibit F both shall be referred to jointly as Grantee) at its sole expense shall procure and
maintain, during the entire period of performance under this grant, the types of insurance
specified below. The Grantee shall submit a Certificate of Insurance to the Grant
Administrator (GA) giving evidence of the required coverage prior to commencing
performance under this grant. In no event shall any work be performed until the required
Certificates of Insurance signed by an authorized representative of the insurer(s) have
been provided to, and accepted by, the GA.
The
Government of the District of Columbia shall be included in all policies, where
applicable and allowable by law, required hereunder to be maintained by the Grantee and
its subcontractors (except for workers’ compensation and professional liability insurance)
as an additional insureds for claims against The Government of the District of Columbia
relating to this grant, with the understanding that any affirmative obligation imposed
upon the insured Grantee or its subcontractors (including without limitation the liability
to pay premiums) shall be the sole obligation of the Grantee or its subcontractors, and not
the additional insured. The additional insured status under the Grantee’s and its
subcontractors’ Commercial General Liability insurance policies shall be effected using
the ISO Additional Insured Endorsement form CG 20 10 11 85 (or CG 20 10 07 04 and
CG 20 37 07 04) or such other endorsement or combination of endorsements providing
coverage at least as broad and approved by the GA in writing. All of the Grantee’s and
its subcontractors’ liability policies (except for workers’ compensation and professional
liability insurance) shall be endorsed using ISO form CG 20 01 04 13 or its equivalent so
as to indicate that such policies provide primary coverage (without any right of
contribution by any other insurance, reinsurance or self-insurance, including any
deductible or retention, maintained by an Additional Insured) for all claims against the
additional insured arising out of the performance of this Statement of Work by the
Grantee or its subcontractors, or anyone for whom the Grantee or its subcontractors may
be liable. These policies shall include a separation of insureds clause applicable to the
additional insured.
If
the Grantee and/or its subcontractors maintain broader coverage and/or higher limits
than the minimums shown below, the District requires and shall be entitled to the broader
coverage and/or the higher limits maintained by the Grantee and subcontractors.
B. INS
URANCE REQUIREMENTS
1. Commercial General Liability Insurance (“CGL”) - The Grantee shall provide evidence
satisfactory to the GA with respect to the services performed that it carries a CGL policy,
written on an occurrence (not claims-made) basis, on Insurance Services Office, Inc.
(“ISO”) form CG 00 01 04 13 (or another occurrence-based form with coverage at least
as broad and approved by the GA in writing), covering liability for all ongoing and
completed operations of the Grantee and under all subcontracts, covering claims for
bodily injury, including without limitation sickness, disease or death and mental anguish
of any persons, broad form property damage, including loss of use resulting therefrom,
personal and advertising injury, and including coverage for liability arising out of an
Insured Contract (including the tort liability of another assumed in a contract) and acts of
terrorism (whether caused by a foreign or domestic source). Such coverage shall have limits
of liability of not less than $1,000,000 each occurrence, a $2,000,000 general aggregate.
The Commercial General Liability shall be further endorsed to:
a) To the fullest extent permitted by law, provide additional insured coverage
using ISO form CG 2015 0413 (or its equivalent) to The Government of the
District of Columbia
b) Coverage available to the additional insureds shall apply on a primary and
non-contributing basis as respects any other insurance, deductibles, or self-
insurance available to the additional insureds
c) A waiver of subrogation in favor of The Government of the District of
Columbia
d) Any Annual Aggregate shall apply on a per location or per project basis
(where applicable)
e) Defense costs shall be in addition to and not erode the limits of liability
2. Automobile Liability Insurance - The Grantee shall provide evidence satisfactory to the
GA of commercial (business) automobile liability insurance written on ISO form CA 00
01 10 13 (or another form with coverage at least as broad and approved by the GA in
writing) including coverage for all owned, hired, borrowed and non-owned vehicles and
equipment used by the Grantee in connection with work under this agreement, with a
minimum combined single limit of $1,000,000 for bodily injury or death and property
damage, including loss of use thereof. Such policy or policies of automobile liability
insurance shall be written on an "occurrence" (as opposed to a "claims made") basis.
Au
to Physical Damage Coverage - The Grantee shall provide auto physical damage
insurance to cover "loss" to a covered "auto" or its equipment:
a) Com
prehensive - Fire, lightning or explosion; theft; windstorm, hail or
earthquake; flood; mischief or vandalism; or the sinking, burning, collision or
derailment of any conveyance transporting the covered "auto".
b) Collision Coverage - Caused by: The covered "auto's" collision with another
object or the covered "auto's" overturn.
The Commercial Auto Liability policy shall be further endorsed to:
a) To the fullest extent permitted by law, provide additional insured coverage to
The Government of the District of Columbia
b) Coverage available to the additional insureds shall apply on a primary and
non-contributing basis as respects any other insurance, deductibles, or self-
insurance available to the additional insureds
c) A waiver of subrogation in favor of The Government of the District of
Columbia
d) Defense costs shall be in addition to and not erode the limits of liability
e) If applicable, include Form CA 99 48 03 06 Pollution Liability - Broadened
Coverage for Covered Autos - Business Auto, Motor Carrier and Truckers (or
its equivalent)
3. Workers’ Compensation Insurance - The Grantee shall provide evidence satisfactory to
the GA of Workers’ Compensation insurance in accordance with the statutory mandates
of the District of Columbia or the jurisdiction in which the grant is performed.
Employer’s Liability Insurance - The Grantee shall provide evidence satisfactory to the
GA of employer’s liability insurance as follows: $500,000 per accident for injury;
$500,000 per employee for disease; and $500,000 for policy disease limit.
T
he Workers Compensation and Employers Liability shall be further endorsed to:
a) Include a Waiver of Subrogation in favor of The Government of the District of
Columbia.
b) Where applicable, include United States Longshore and Harbor Workers
Compensation Act (USL&H)
c) Where applicable, include Jones Act Coverage for seamen or crew members on
an “if any” basis.
4. Network Security/Privacy (Cyber) Liability Insurance covering acts, errors, omissions,
breach of contract, and violation of any consumer protection laws arising out of Grantee’s
operations or services with a limit of $2,000,000 per claim and in the aggregate. Such
coverage shall include but not be limited to, third party and first party coverage for loss
or disclosure of any data, including personally identifiable information and payment card
information, network security failure, violation of any consumer protection laws,
unauthorized access and/or use or other intrusions, infringement of any intellectual
property rights (except patent), unintentional breach of contract, negligence or breach of
duty to use reasonable care, breach of any duty of confidentiality, invasion of privacy, or
violations of any other legal protections for personal information, defamation, libel,
slander, commercial disparagement, negligent transmission of computer virus, or use of
computer networks in connection with denial of service attacks. Such coverage shall
include regulatory defense and fines/penalties in any jurisdiction anywhere in the world.
Such coverage shall include contractual privacy coverage for data breach response and
crisis management costs that would be incurred by Grantee on behalf of The Government
of the District of Columbia in the event of a data breach including legal and forensic
expenses, notification costs, credit monitoring costs, and costs to operate a call center.
Grantee shall maintain coverage in force during the term of this Agreement and for an
extended reporting period of not less than two (2) years after.

5. Commercial Umbrella or Excess Liability - The Grantee shall provide evidence
satisfactory to the GA of commercial umbrella or excess liability insurance with
minimum limits of $10,000,000 per occurrence and $10,000,000 in the annual aggregate,
following the form and in excess of all liability policies. All liability coverages must be
scheduled under the umbrella and/or excess policy. The insurance required under this
paragraph shall be written in a form that annually reinstates all required limits. Coverage
shall be primary to any insurance, self-insurance or reinsurance maintained by The
Government of the District of Columbia and the “other insurance” provision must be
amended in accordance with this requirement and principles of vertical exhaustion.

6. Environmental Liability/Contractors Pollution Liability Insurance - The Grantee shall
provide evidence satisfactory to the GA of environmental liability insurance covering
losses caused by pollution or other hazardous conditions arising from ongoing or
completed operations of the Grantee. Such insurance shall apply to bodily injury,
property damage (including loss of use of damaged property or of property that has been
physically injured), clean-up costs, transit and non-owned disposal sites. Coverage shall
extend to defense costs and expenses incurred in the investigation, civil fines, penalties
and damages or settlements. There shall be neither an exclusion nor a sublimit for mold
or fungus-related claims. The minimum limits required under this paragraph shall
$2,000,000 per occurrence and $2,000,000 in the annual aggregate. If such coverage is
written on a claims-made basis, the Grantee warrants that any retroactive date applicable
to coverages under the policy precedes the Grantee’s performance of any work under the
Grant and that continuous completed operations coverage will be maintained for at least
ten (10) years or an extended reporting period shall be purchased for no less than ten (10)
years after completion.

The Grantee also must furnish to the GA Owner certificates of insurance evidencing
environmental liability insurance maintained by third party transportation and disposal
site operators(s) used by the Grantee for losses arising from facility(ies) accepting,
storing or disposing hazardous materials or other waste as a result of the Grantee’s
operations. Such coverages must be maintained with limits of at least the amounts set
forth above.
The Environmental Liability policy shall be further endorsed to include The Government
of the District of Columbia as an Additional Insured.

7. Employment Practices Liability - The Grantee shall provide evidence satisfactory to the
GA with respect to the operations performed to cover the defense of claims arising from
employment related wrongful acts including but not limited to: Discrimination, Sexual
Harassment, Wrongful Termination, Workplace Torts, "Bullying" in "any location" and
"by any means," including the Internet, whether between employees of Grantee or against
third parties. Employment Practices Liability coverage must specifically state Third
Party Liability coverage is included. Grantee will indemnify and defend The Government
of the District of Columbia should it be named co-defendant or be subject to or party of
any claim. Coverage shall also extend to Temporary Help Firms and Independent
Contractors hired by Grantee. The policy shall provide limits of not less than $1,000,000
for each wrongful act and $2,000,000 annual aggregate for each wrongful act.

8. Installation-Floater Insurance - For projects not involving structural alterations, the
Grantee shall provide an installation floater policy with a limit equal to the Property
values being installed as part of the project. The policy shall cover property while located
at the project site, at temporary locations, or in transit; deductibles will be the sole
responsibility of the Grantee.

9. Riggers Liability – If and to the extent Grantee’s services or scope of Work call for,
require, or involve the lifting, picking, rigging and setting of others property, materials or
equipment, Grantee shall procure, maintain and pay for Riggers Liability Insurance to
insure against physical loss of or damage in amounts sufficient to insure the full market
value and / or replacement costs of the property, materials or equipment being lifted. In
addition to replacing any property, materials or equipment damaged through Grantee’s
work involving the lifting, picking, rigging and or setting, Grantees shall also be
responsible for all consequential loss of use, and delay damages involved in replacing and
/ or repairing the damaged property, materials or equipment. Failure to carry appropriate
insurance and or failure to carry adequate limits shall not relieve Grantee from its
indemnity and contractual obligations herein.

10. Sexual/Physical Abuse & Molestation – Applicable if children and/or vulnerable
populations are on-site. The Grantee shall provide evidence satisfactory to the GA with
respect to the services performed that it carries $1,000,000 per occurrence limits;
$2,000,000 aggregate of affirmative abuse and molestation liability coverage. Coverage
should include physical abuse, such as sexual or other bodily harm and non-physical
abuse, such as verbal, emotional or mental abuse; any actual, threatened or alleged act;
errors, omission or misconduct. This insurance requirement will be considered met if the
general liability insurance includes an affirmative sexual abuse and molestation
endorsement for the required amounts or through a separate stand-alone sexual abuse and
molestation policy with confirmation there are no exclusions for abuse or assault &
battery under the General Liability. So called “silent” coverage or “shared” limits under a
commercial general liability or professional liability policy will not be acceptable. Limits
may not be shared with other lines of coverage. The applicable policy may need to be
submitted to the ORM for compliance review.
Construction Projects Controlled by the Grantee
The Developer will procure the following policies with the District listed as
Additional Insured.
Builders Risk – The Grantee shall purchase and maintain, in a company authorized to
do business in the jurisdiction in which the project is located, builders risk insurance,
written on an “all risk”, special causes of loss or equivalent form. Builders risk
coverage will include boiler and machinery / equipment breakdown, earthquake and
flood perils. Building ordnance and terrorism coverage will be included.
The
deductible shall not exceed $25,000 except for earthquake, flood, windstorm,
water damage or other perils, and as available in the insurance industry.
The project limit shall equal the replacement value of the structure, including
coverage for property in transit and stored off premises.
The
Builders risk coverage will extend to soft costs and delayed completion.
Bui
lders risk insurance shall include the interests of The Government of the District
of Columbia, the Developer, Subcontractors and Sub – subcontractors in the project.
Property Insurance - After achieving completion of construction of the Project,
Grantee/Lessee (as applicable) shall carry special form property insurance written on
a replacement cost value covering 100% of the replacement cost of all of Developer’s
property.
C. SUB
CONTRACTOR INSURANCE REQUIREMENTS
Any and all subcontractors engaged by Grantee for work under this agreement shall be
required to have the same insured required of Grantee. Should the Grantee wish to
propose different insurance requirements than outlined below, then, prior to
commencement of work by the subcontractor, the Grantee shall submit in writing the
name and brief description of work to be performed by the subcontractor on the
Subcontractors Insurance Requirement Template provided to the Office of Risk
Management (ORM). ORM will determine the insurance requirements applicable to the
subcontractor and promptly deliver such requirements in writing to the Grantee. In either
instance, the Grantee must provide proof of the subcontractor's required insurance prior
to commencement of work by the subcontractor.
D. PR
IMARY AND NONCONTRIBUTORY INSURANCE
The insurance required herein shall be primary to and will not seek contribution from any
other insurance, reinsurance or self -insurance including any deductible or retention,
maintained by the Government of the District of Columbia.
E. D
URATION. The Grantee shall carry all required insurance until all grant work is
accepted by The Government of the District of Columbia and shall carry listed coverages
for ten years for construction projects following final acceptance of the work performed
under this grant and two years for non-construction related grants.
F. LIABILITY. These are the required minimum insurance requirements established by
The Government of the District of Columbia. However, it is understood that The
Government of the District of Columbia does not in any way represent that the insurance
or the limits of insurance specified herein are sufficient or adequate to protect your
interests or liabilities and will not in any way limit the Grantee’s liability under this grant.
G. CONTRACTOR’S PROPERTY. Grantee and subcontractors are solely responsible for
any loss or damage to their personal property, including but not limited to tools and
equipment, scaffolding and temporary structures, rented machinery, or owned and leased
equipment. A waiver of subrogation shall apply in favor of The Government of the
District of Columbia.
H. MEASURE OF PAYMENT. The Government of the District of Columbia shall not
make any separate measure or payment for the cost of insurance and bonds. The Grantee
shall include all of the costs of insurance and bonds in the grant price.
I. NOTIFICATION. The Grantee shall ensure that all policies provide that the GA shall
be given thirty (30) days prior written notice in the event of cancellation, non-renewal, or
material changes to the extent such cancellation or material changes results in Grantee no
long complying with the above requirements. The Grantee shall provide the GA with ten
(10) days prior written notice in the event of non-payment of premium. The Grantee will
also provide the GA with an updated Certificate of Insurance should its insurance
coverages renew during the grant. The Government of the District of Columbia may
reasonably change the above insurance coverage requirements during the Term by giving
Grantee at least 30 days’ notice of the change. Grantee must comply, at your expense,
and deliver to the GA evidence of compliance before the change becomes effective.
J. CERTIFICATES OF INSURANCE. The Grantee must send to GA, at least 10 days after
execution of this Agreement, certificates of insurance evidencing the required insurance
coverage and endorsements required herein. Grantee must also provide us with evidence
of renewal before the expiration date of each insurance policy. Grantee is responsible for
providing us with 30 days’ advanced written notice if the certificate of insurance by the
insurer has been canceled, reduced in coverage, or otherwise altered. Certificates of
insurance must reference the corresponding grant number. Evidence of insurance shall
be submitted to:
The Government of the District of Columbia
And mailed to the attention of:
Lisa Williams
1909 Martin Luther King, Jr. Avenue, SE
Washington, DC 20020
(202) 442-7200
lisa.williams1@dc.gov
The
GA may request, and the Grantee shall promptly deliver updated certificates of
insurance, endorsements indicating the required coverages, and/or certified copies of the
insurance policies. If the insurance initially obtained by the Grantee expires prior to
completion of the grant, renewal certificates of insurance and additional insured and other
endorsements shall be furnished to the GA prior to the date of expiration of all such
initial insurance. For all coverage required to be maintained after completion, an
additional certificate of insurance evidencing such coverage shall be submitted to the GA
on an annual basis as the coverage is renewed (or replaced).
K. DI
SCLOSURE OF INFORMATION. The Grantee agrees that The Government of the
District of Columbia may disclose the name and contact information of its insurers to any
third party which presents a claim against The Government of the District of Columbia
for any damages or claims resulting from or arising out of work performed by the
Grantee, its agents, employees, servants or subcontractors in the performance of this
grant.
L. CARRIER RATINGS. All Grantee’s and its subcontractors’ insurance required in
connection with this grant shall be written by insurance companies with an A.M. Best
Insurance Guide rating of at least A- VII or better (or the equivalent by any other rating
agency) and licensed in the District of Columbia.
M. WARRANTIES. When applicable, the Grantee should be named as an additional insured
on the applicable manufacturer’s/distributer’s Commercial General Liability policy using
Insurance Services Office, Inc. (“ISO”) form CG 20 15 04 13 (or another occurrence-
based form with coverage at least as broad). GA should collect, review for accuracy, and
maintain all warranties for goods and services.
EXHIBIT H
DHCD MONITORING REQUIREMENTS
and
DHCD M
ONITORING DETAILS FOR KEB
GOVERNMENT OF THE DISTRICT OF COLUMBIA
DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
Portfolio and Asset Management Division
Compliance and Long-Term Monitoring to Preserve Affordability and Viability
Compliance Monitoring
The Portfolio and Asset Management Division conducts routine compliance monitoring
reviews. PAMD will contact project staff in advance of scheduling the visit. PAMD monitors for
compliance with the District and Federal requirements and agreements made in the formal
application for funds and the Regulatory Agreement.
Physi
cal Inspections
The Portfolio and Asset Management Division conducts a routine physical inspection of all
buildings in the assisted project. The frequency of this depends on the financing utilized to
develop the site.
Financial Reporting and Analysis
The Portfolio and Asset Management Division conducts routine financial monitoring and
analysis. Audited financial statements are required to be submitted for review on an annual
basis. All requests for loan servicing are initiated with the Housing Financial Analysis team.
Por
tfolio and Asset Management Initial Leasing Summary
Initial Income Certification Review Policy (Effective November 1, 2020)
1) Properties are required to have a third-party vendor certify tenant eligibility by providing
DHCD with an attestation that the tenants are income eligible per your loan requirements.
a) Many third-party vendors already do this work and provide such certification to
properties; the agency is open to accepting external forms.
b) Such vendor shall specialize in performing income eligibility determinations
consistent with HUD’s Office of Multifamily Housing guidelines and regulations set
forth in HUD Handbook 4350.3 REV-1 and subsequent notices, including rent
calculation, eligibility, verification, recertification, tenant screening, and Fair Housing.
Revised March 2021

GOVERNMENT OF THE DISTRICT OF COLUMBIA
DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
Portfolio and Asset Management Division
Compliance and Long-Term Monitoring to Preserve Affordability and Viability
2) DHCD requires evidence that the property has qualified staff performing lease-up functions.
a) Such evidence will be required at time of lease-up as well as a required attachment to the
Annual Owner’s Certification of Continuing Program Compliance.
b) The following certifications, for at least one staff member, would be acceptable:
• National Compliance Professional (NCP)
• Site Compliance Specialist (SCS)
• Housing Credit Certified Professional (HCCP)
• Specialist in Housing Credit Management (SHCM)
• Certified Occupancy Specialist (COS)
• Certified Credit Compliance Professional (C3P)
In the event that developers do not have staff that already meet certification
qualifications above, DHCD provides monthly income eligibility training facilitated by the
National Center for Housing Management (NCHM) through our Inclusionary Zoning and
Housing Preservation Fund Divisions This training is an abbreviated version of the
three-day Certified Occupancy Specialist (COS) training conducted by NCHM; and is a
one-day class held at DHCD for $245. Participants are required to take a test with a 70%
passing score. NOTE: These trainings are still being conducted virtually during the
COVID epidemic.
3) Property will submit a copy of rent roll at 100% occupancy.
4) DHCD reserves the right to audit all files at any time, including during the lease-up process.
Rev
ised March 2021

GOVERNMENT OF THE DISTRICT OF COLUMBIA
DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
Portfolio and Asset Management Division
Compliance and Long-Term Monitoring to Preserve Affordability and Viability
Initial Income Certification Process

Revised March 2021
Owner /Management
submits copy of 3rd Party
compliance review to
Asset Management Staff
Owner/ Management Agent
submit approved applications
to 3rd party to ensure
compliance with funding
sources
Applicant household
takes possession of
unit
Income-eligible
applicant households
receive a decision of
"Yes," indicating they
are eligible to occupy
Owner/ Management
Agent initiates lease
up intent with Asset
Management assigned
Compliance Specialist
Asset Management staff
will meet with
Owner/Management team
to review Asset
Management Packet
Owner/ Management
Agent submits copy of
required certification of
agent approving new
applications
Income-Eligible
applicant is approved
by certified
Management Agent
Asset Management staff
review the submissions
according to criteria
outlined in HUD 4350.3
Chapter 5
Asset Management Staff
submits notice of
Compliance to Finance
Division for closeout

GOVERNMENT OF THE DISTRICT OF COLUMBIA
DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
Portfolio and Asset Management Division
Compliance and Long-Term Monitoring to Preserve Affordability and Viability
Applicant Files
The following is a list of documents that may be required to certify eligibility across DHCD programs:
• Copy of Rental Application.
• Copy of Tenant Initial Certification (TIC).
• Most recent consecutive three (3) months’ pay stubs for all wage earners in household.
• Verification of current employment.
• Verification of unemployment income received by any household member.
• Last year's signed federal and local tax returns.
• Most recent year's W-2s and 1099s for self-employed adults in household.
• Year-to-date profit and loss statement for self-employed household members.
• Supplemental income/disability award letters for household members.
• Verification of child support income from household members.
• Verification of alimony for household members.
• Verification of income for investments (real estate, stocks, bonds, etc.) for household members.
• Other annuity, pension, or retirement income statements for household members.
• Any other documented income for household members.
• Zero income affidavit.
• HOME or LIHTC Lease Addendum.
• Asset Certification Form.
• Copy of Recent Credit Report.
• Copy of driver’s license or government-issued identification for household members.
• Copy of birth certificates and social security cards for household members.
• Verification of student status for non-working household members over 18.
• Last six (6) months of bank statements for household members
Revised March 2021

Portfolio and Asset Management Division
Compliance and Long-Term Monitoring to Preserve Affordability and Viability
Portfolio and Asset Management Physical Inspection Summary
The District of Columbia Department of Housing and Community Development, Portfolio and
Asset Management Division (PAMD), must conduct a physical inspection at all projects financed
by the Department. Physical Inspections are generally conducted on an annual or triennial basis.
Physical Inspection Administration
The following is a list of programs subject to routine physical inspections as conducted by the
District of Columbia Department of Housing and Community Development (DHCD). This list
is not all- inclusive:
• Low-Inc
ome Housing Tax Credit (LIHTC)
• HOME Investment Partnerships (HOME)
• Community Development Block Grant (CDBG)
• Housing Production Trust Fund (HPTF)
Physical Inspection Process
Revised March 2021
Routine Physical Inspection
scheduled by assigned
Inspector
Owner/ Management Agent
contacted in reference to
pending inspection
Owner/ Management Agent
provide written inspection
notice to all residents
Inspector requests Owner/
Management agent provide
Rent Roll
Five aspects of the project
are inspected including: Site,
Building Exterior, Building
Systems, Common Areas,
Unit
Inspection is conducted
according to Uniform
Physical Condition Standards
protocol
Inspector of Record meets
with Owner/ Management
Agent at property on day of
inspection
20% of total project units are
arbitrarily selected for
inspection
Health and Safety
deficiencies observed by
Inspector are listed in
written notice for the
Owner/ Agent's review
Follow-Up is conducted
according to the level of
deficiencies observed
Inspector provides a written
report of all deficiencies
observed during inspection

GOVERNMENT OF THE DISTRICT OF COLUMBIA
DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
Portfolio and Asset Management Division
Compliance and Long-Term Monitoring to Preserve Affordability and Viability
Portfolio and Asset Management Compliance Review Summary
The Di
strict of Columbia Department of Housing and Community Development, Portfolio and
Asset Management Division (PAMD), conducts routine Operations and File Reviews of projects
assisted with DHCD financing. The Assigned Compliance Specialist notifies the Owner/
Property Management at least 30 days in advance of the File Review. The Review ensures that
residents are recertified and appropriately and that the rent paid aligns with Program guidelines.
Applicant Files
Files are reviewed specifically for information pertinent to the annual recertification
process. The following is a list of documents that may be reviewed across DHCD
programs:
• Tenant Initial Certification (TIC)
• HUD 50059
• Proof of household income (i.e., paystubs, third party verification, award letter, etc.)
• Asset verification
• Executed Dwelling Lease
• Associated Addendums as required by program or project
• Signed Lead Paint Disclosure
• Utility Allowance verification
• Owner’s Certification Documentation
Revised March 2021

KEB Monitoring Plan:
Initial Opening Meeting:
PAMD will attend the close-out meeting with DFD and the developer’s team to explain the
compliance procedures at the time the building(s) is placed in service and Form 8609 is executed.
Initial Unit Inspection & Compliance Review:
The PAMD Inspection Unit within 2 years after the 8609 is executed will inspect the building,
common areas and a sample number of the units and report any non-compliance issues on IRS
Form 8823 with a request to cure the issues. Any cured or uncured issues will subsequently be
reported to the IRS.
The PAMD Compliance Unit will also conduct a sample file review within 2 years after the 8609 is
executed and report any issues of non-compliance to the property manager. Subsequently, any
cured or uncured non-compliance issue will be reported to the IRS on form 8823.
Annual PAMD Financial Review:
PAMD Financial Analyst will review the current year audited financial statements and perform a risk
rating on the project based on the operations of the project. The more important line items
evaluated include the amount of NOI, Cash Flow, Reserves, and Debt Service Coverage Ratio.
3-Year Inspection and Compliance Review:
Both PAMD Compliance and Inspection groups will do sample file reviews and inspections tri-
annually and do the same IRS reporting on form 8823 for both cured and uncured noncompliance
violations.
Jubilee
Housing Deeply affordable.Thrivingneighborhoods. Nearby services.
February12,2025
STATEMENT CONCERNING VIOLATIONS
The undersigned statesand certifies:
JubileeHousing, Inc.(Jubilee)has received no noticeof ethicsviolationfrom the
Districtof Columbia OfficeofCampaign Finance (OCF); thatJubileewillcommit no act nor
failto act ina manner thatwould constitutean ethicsviolationunder rulesmade
applicableby OCF; and thatJubileeisnot currentlyinviolationof the Government Ethics
Actof2011.
wm
Executedthis__/2-day ofFebruary,2025.
JUBILEE HOUSING, INC.,
4 a DistrictofColumbia nonprofitcorporation
By:
James Krigh
President
DISTRICT OF COLUMBIA
on#9] 2a, beforeme,theundersigned,anotarypublicinandforsaidstate,personallyappearedJamesKnight,personallyknowntomeorprovedtomeonthebasisofsatisfactoryevidencetobetheindividualwhosenameissubscribedtothewithininstrument and acknowledged to me that he executed the same in his capacity as
PresidentofJubileeHousing,Inc.andthatbyhissignatureontheinstrument,theentity,individualor the|persononbehalfofwhichtheindividualacted,executedtheinstrument.

Z DistrictofColumbia
Notary Public vy
Pfs [2028 SonstreofNear"eoffe"CommissionExpires:1631EuclidStNW,#P-5|Washington,DC20009Phone:202.299.1240Fax:2077
Commission expire:

llGOVERNMENT OF THE DISTRICT OF COLUMBIA
DEPARTMENTOFHOUSINGANDCOMMUNITYDEVELOPMENT
a¥cdOfficeoftheDirector

PhilMendelson
Chairman,
CounciloftheDi

ictofColumbia
FROM: BethSpooner BethanySpoonerseamAgencyFiscalOfficer aDepartmentofHousingandCommunityDevelopment
DATE: December3,2024
SUBJECT: CertificationofFundingAvailabilityforRe-EntryHousingOper

2Sul

ThismemorandumcertifiesthattheDepartmentofHousingandCommunityDevelopmenthas$1,400,000intheFY 2025budget,recurringinthefinancialplanforfiscalyears2026through2028,tofundamulti-yearcontractforoperatingsubsidytoJubileeHousingfortheKingEmmanuelBaptist(JubileeKEB)project,whichwillprovidehousingforreturningcitizens.
‘TheavailabilityoffundsissubjecttoannualappropriationsandcontinuedinclusionintheFinancialPlan and Budget through the termof the contract,which isfrom FY 2025 to FY 2044.
Pleasecontactmeat202-442-7173ifyouhaveanyquestions.

DepartmentofHowingandCommunityDevelopment|1800MartinLuthering.Avenue,SE,Washington,020020|202.442.7200dhe.degov

February 12, 2025

Mr. Jim Knight
Jubilee Housing, Inc.
1631 Euclid Street NW
Washington, DC 20009

Dear Jim:

The purpose of this letter is to confirm the Federal tax returns filed on behalf of Jubilee Housing,
Inc. (the “Organization”). Toole Katz & Roemersma, LLP was engaged to prepare the
Organization’s 2023 and 2022 Form 990 Return of Organization Exempt From Income Tax. The
Internal Revenue Service due date for a calendar year filer for an extension is May 15 th of the
following year and the due date for an extended return is November 15th of the following year.

Toole Katz & Roemersma, LLP filed an extension for the Organization’s 2023 Form 990 Return
of Organization Exempt From Income Tax on May 8, 2024 and filed the Organization’s 2023 Form
990 Return of Organization Exempt From Income Tax on November 13, 2024 with the Internal
Revenue Service. There were no amounts due with the return.

Toole Katz & Roemersma, LLP filed an extension for the Organization’s 2022 Form 990 Return
of Organization Exempt From Income Tax on May 15, 2023 and filed the Organization’s 2022
Form 990 Return of Organization Exempt From Income Tax on November 14, 2023 with the
Internal Revenue Service. There were no amounts due with the return.

Sincerely,

TOOLE KATZ & ROEMERSMA, LLP

1911 N Fort Myer Dr., Suite 600
Arlington, VA 22209
Tel: 703-248-9200
Fax: 703-783-4005