Provides a real property tax exemption for the 151 Q Street Residential Property for 10 years, up to $21 million.

The bill grants a real property tax exemption for the 151 Q Street Residential Property, located in Lots 816, 817, 818, 819, and 820, Square 3576. The exemption applies for 10 consecutive tax years, starting in Tax Year 2031, and is capped at $21 million. The exemption is contingent on the owner maintaining the property, addressing building code infractions, and ensuring affordable housing units are available to low-income residents. The owner must also undertake ongoing capital improvements and routine replacements to maintain living conditions.

Provides a real property tax exemption for the 151 Q Street Residential Property for 10 years, up to $21 million.

The bill grants a real property tax exemption for the 151 Q Street Residential Property, located in Lots 816, 817, 818, 819, and 820, Square 3576. The exemption applies for 10 consecutive tax years, starting in Tax Year 2031, and is capped at $21 million. The exemption is contingent on the owner maintaining the property, addressing building code infractions, and ensuring affordable housing units are available to low-income residents. The owner must also undertake ongoing capital improvements and routine replacements to maintain living conditions.