Proposed Local Rent Supplement Program No. 2024-LRSP-05A with Congress LIHTC Owner LLC Emergency Act of 2024

This bill authorizes an emergency long-term subsidy contract to fund 69 affordable housing units at the 1109 Congress Street Apartments in Washington, D.C. The agreement provides an annual operating subsidy of up to $2.08 million to Congress LIHTC Owner, LLC for a period of 15 years. By bypassing standard procurement rules, the legislation allows the District to quickly secure funding for these specific rental units. The act remains in effect for up to 90 days pending final approval by the Mayor or the Council.