Approval of a long-term subsidy contract with 10Q NW LLC for affordable housing units.
The bill approves a long-term subsidy contract with 10Q NW LLC to provide affordable housing units for extremely low-income households. The contract, known as an Affordable Long-Term Subsidy Contract (ALTSC), will support five affordable housing units at 10 Q Street, NW. The contract authorizes an annual operating subsidy exceeding $187,308. The Council adopted the fiscal impact statement of the Chief Financial Officer and the resolution takes effect immediately.
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