151 Q Street Residential Economic Development Real Property Tax Exemption Amendment Act of 2026

This bill amends an existing law to grant a ten-year real property tax exemption for the 603-unit Gale Eckington apartment complex in Ward 5, aiming to help the building owner invest in necessary repairs and maintain affordable housing. The tax break, which begins in 2031 and is capped at $21 million, is conditional on the owner first resolving all outstanding building code violations and fines issued before October 2031. During the exemption period, the owner must continue to make ongoing capital improvements, upgrade unit fixtures, and promptly address maintenance requests to keep the property safe and functional. The legislation also requires annual compliance checks by the Department of Buildings to ensure the owner meets these maintenance obligations while the tax exemption is in effect.