Read the full stored bill text
ENROLLED ORIGINAL
1
A RESOLUTION
26-163
IN THE COUNCIL OF THE DISTRICT OF COLUMBIA
July 1, 2025
To declare the existence of an emergency with respect to the need to authorize and provide for the
issuance, sale, and delivery in an aggregate principal amount not to exceed $700 million of
District of Columbia revenue bonds in one or more series pursuant to a plan of finance,
and to authorize and provide for the loan of the proceeds of such bonds to assist DC
Housing Solutions, Inc., in the financing, refinancing, or reimbursing of costs associated
with an authorized project pursuant to section 490 of the District of Columbia Home Rule
Act.
RESOLVED, BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, That this
resolution may be cited as the “DC Housing Solutions, Inc. Revenue Bonds Project Emergency
Declaration Resolution of 2025”.
Sec. 2. (a) DC Housing Solutions, Inc. (the “Borrower”) is a nonprofit corporation and
organization exempt from federal income taxes under 26 U.S.C § 501(a) as an organization
described in 26 U.S.C. § 501(c)(3) and existing under the laws of the District of Columbia, which
seeks to have District of Columbia revenue bonds (“Bonds”) issued and receive a loan of the
proceeds thereof (the “Loan”) for the financing, refinancing, or reimbursing of the Borrower for
all or a portion of the Borrower’s costs incurred in connection with the following project
(“Project”):
(1) The renovation, modernization, and rehabilitation of 19 existing multifamily
residential rental apartment buildings, comprising a total of 3,497 rental housing units and
associated parking facilities located in Washington, DC, and consisting of apartment buildings
commonly known as:
(A) Carroll Apartments, with a street address of 410 M Street, SE,
Washington, DC, 20003, and comprised of 60 units;
(B) Claridge Towers, with a street address of 1221 M Street, NW,
Washington, DC, 20009, and comprised of 343 units;
(C) Fort Lincoln, with a street address of 3400 Banneker Drive, NE,
Washington, DC, 20018, and comprised of 120 units;
(D) Harvard Towers, with a street address of 1845 Harvard Street, NW,
Washington, DC, 20009, and comprised of 193 units;
ENROLLED ORIGINAL
2
(E) Highland Addition, with a street address of 400 Atlantic Street, SE,
Washington, DC, 20032, and comprised of 118 units;
(F) Hopkins Apartments, with a street address of 1430 L Street, SE,
Washington, DC, 20003, and comprised of 158 units;
(G) Horizon House, with a street address of 1150 12 Street, NW,
Washington, DC, 20009, and comprised of 105 units;
(H) James Apartments, with a street address of 1425 N Street, NW,
Washington, DC, 20005, and comprised of 141 units;
(I) James Creek, with a street address of 1244 First Street, SW,
Washington, DC, 20024, and comprised of 242 units;
(J) Judiciary House, with a street address of 461 H Street, NW,
Washington, DC, 20001, and comprised of 263 units;
(K) Kentucky Courts, with a street address of 340 13 Street, SE,
Washington, DC, 20003, and comprised of 118 units;
(L) Knox Hill, with a street address of 2700 Jasper Street, NW,
Washington, DC, 20020, and comprised of 122 units;
(M) LeDroit Senior, with a street address of 2125 4th Street, NW,
Washington, DC, 20001, and comprised of 124 units;
(N) Lincoln Heights, with a street address of 400 50 Street, NE,
Washington, DC, 20019, and comprised of 440 units;
(O) Regency House, with a street address of 5201 Connecticut Avenue,
NW, Washington, DC, 20015, and comprised of 160 units;
(P) Sibley Plaza, with a street address of 1140 North Capitol Street, NW,
Washington, DC, 20002, and comprised of 224 units;
(Q) Stoddert Terrace, with a street address of 155 Ridge Road, SE,
Washington, DC, 20019, and comprised of 158 units;
(R) Syphax Gardens, with a street address of 1501 Half Street, SW,
Washington, DC, 20024, and comprised of 174 units; and
(S) Woodland Terrace, with a street address of 2311 Ainger Place, NW,
Washington, DC, 20020, and comprised of 234 units; and, together with the respective ancillary
common spaces in each apartment building (collectively, the “Facilities”);
(2) The purchase and installation of certain equipment and furnishings, together
with other property, real and personal, functionally related and subordinate to the Facilities;
(3) Funding certain working capital costs, to the extent financeable relating to the
Bonds;
(4) Funding interest on the Bonds and any credit enhancement costs, liquidity
costs or debt service reserve fund relating to the Bonds; and
(5) Paying allowable issuance costs.
ENROLLED ORIGINAL
3
(b) The planned financing will make available funds critically needed to finance,
refinance, or reimburse the Borrower for costs of the Project.
(c) Due to the current economic uncertainty in the financial markets, it is important for
the Council to expedite the process for the issuance of the Bonds and avoid any delay that may
adversely affect the ability of the Borrower to market the Bonds to investors or to obtain an
interest rate within the range contemplated by the Project budget.
(d) Council approval of the bond resolution authorizing the issuance of up to $700 million
of District of Columbia revenue bonds would permit the revenue bonds to be issued promptly to
provide maximum savings for the Borrower and enable the Project described in subsection (a) of
this section to be completed.
Sec. 3. The Council of the District of Columbia determines that the circumstances
enumerated in section 2 constitute emergency circumstances making it necessary that the DC
Housing Solutions, Inc. Revenue Bonds Project Emergency Approval Resolution of 2025 be
adopted on an emergency basis.
Sec. 4. This resolution shall take effect immediately.