Resolution approves the assignment and extension of a long-term subsidy contract for affordable housing units at Euclid Apartments.

The resolution approves the assignment, assumption, and amendment of a long-term subsidy contract for the Euclid Apartments, extending it for twenty years. The District of Columbia Housing Authority (DCHA) will assign the contract to Jubilee ADMO, an affiliate of Jubilee Housing, which will assume the contract as the successor-in-interest. This action ensures continued operating subsidies for thirty-two affordable housing units for extremely low-income households. The resolution also mandates the transmittal of a copy to DCHA and the Mayor, and it takes effect immediately.

Resolution approves the assignment and extension of a long-term subsidy contract for affordable housing units at Euclid Apartments.

The resolution approves the assignment, assumption, and amendment of a long-term subsidy contract for the Euclid Apartments, extending it for twenty years. The District of Columbia Housing Authority (DCHA) will assign the contract to Jubilee ADMO, an affiliate of Jubilee Housing, which will assume the contract as the successor-in-interest. This action ensures continued operating subsidies for thirty-two affordable housing units for extremely low-income households. The resolution also mandates the transmittal of a copy to DCHA and the Mayor, and it takes effect immediately.