Local Rent Supplement Program Contract No. 2024-LRSP-07A with Benning Road Metro Apartments LLC Approval Resolution of 2024

This bill authorizes a 20-year contract to provide rental subsidies for 22 affordable housing units at the Benning Road Metro Apartments in Northeast Washington, DC. The District of Columbia Housing Authority will pay an annual subsidy of up to $491,604 to the property owner, Benning Road Metro Apartments LLC, to help cover costs for extremely low-income households earning 30% or less of the area's median income. The funding is part of the Local Rent Supplement Program, which was established to support housing for vulnerable residents, including the chronically homeless and individuals with disabilities. Upon approval, the agreement allows the property to continue operating as affordable housing for the specified term.