Local Rent Supplement Program (LRSP) Contract Number 2025-LRSP-02A with Flats at South Capitol, LLC LRSP Funding Increase Approval Resolution of 2026

This bill approves a funding increase for the Local Rent Supplement Program to support affordable housing at the Flats at South Capitol Apartments. It raises the annual subsidy from approximately $487,000 to $845,490.67 for twenty-two units, allowing the property to house extremely low-income residents earning 30% or less of the area median income. The change is authorized for a twenty-year term and enables the District Housing Authority to lease the rehabilitated units to qualifying households.