Plain English Breakdown
The candidate explanation included details about sending copies of the resolution that were not directly supported by the provided official text.
Marietta Apartments Subsidy Contract Approval
The District of Columbia Housing Authority approved an extension and transfer of the long-term subsidy contract for Marietta Apartments, ensuring continued funding for affordable housing units.
What This Bill Does
- Extends the long-term subsidy contract for the Marietta Apartments by 20 years.
- Transfers the subsidy contract from Jubilee Housing Limited Partnership to Jubilee ADMO Apartments LP.
- Continues financial support for 10 affordable housing units at Marietta Apartments.
Who It Names or Affects
- The District of Columbia Housing Authority
- Jubilee Housing Limited Partnership
- Jubilee ADMO Apartments LP
Terms To Know
- Long-Term Subsidy Contract (LTSC)
- A contract that provides financial support for a long period to help cover costs of maintaining affordable housing.
- Affordable Housing Units
- Housing units designed and managed to be affordable for low-income residents.
Limits and Unknowns
- The resolution does not specify the exact amount of funding provided under the subsidy contract.
- It is unclear what happens if Jubilee ADMO Apartments LP fails to meet its obligations under the new contract.