District Of Columbia 2023-2024 Regular Session

District Of Columbia Council Bill PR25-1025

Introduced
10/18/24  

Caption

Local Rent Supplement Program Contract No. 2024-LRSP-06A with BCP II LLC Approval Resolution of 2024

Impact

The LRSP plays a crucial role in addressing the housing needs of extremely low-income individuals and families, including those who may be homeless or require supportive services. This bill's approval is expected to enhance accessibility to affordable housing units in the district, thereby directly impacting legislation concerning housing stability and social welfare. By partnering with BCP II LLC, the resolution provides a framework to ensure that vulnerable populations receive the necessary financial support to secure safe housing, which aligns with broader community development goals.

Summary

PR25-1025, titled the 'Local Rent Supplement Program Contract No. 2024-LRSP-06A with BCP II LLC Approval Resolution of 2024', aims to establish a long-term subsidy contract to support the District of Columbia's Local Rent Supplement Program (LRSP). The bill specifically focuses on providing affordable housing units for extremely low-income residents, facilitating rental assistance through a proposed significant annual budget of $1,200,684 to BCP II LLC over a period of twenty years. The targeted location for these affordable units is the Belmont Crossing II Apartments, emphasizing the commitment to housing solutions in the District, which might benefit individuals facing financial hardships, including the elderly and disabled individuals.

Contention

While the bill is primarily aimed at enhancing affordable housing, the funding allocated raises questions regarding fiscal responsibility and the effectiveness of long-term contracts in achieving sustainable outcomes. Opponents may express concerns about the adequacy of the funds relative to rising housing costs and whether the proposed plan sufficiently addresses the specific needs of the local community. Discussions may also encompass the accountability measures for the distribution and utilization of the funds, as well as the performance of BCP II LLC in managing the housing units over the contract's duration.

Companion Bills

No companion bills found.

Previously Filed As

DC PR25-1067

Local Rent Supplement Program Contract No. 2024-LRSP-09A with 2401 25th Street LLC Approval Resolution of 2024

DC PR25-0834

Local Rent Supplement Program Contract No. 2024-LRSP-04A with MC Rental Preservation 2 LLC Approval Resolution of 2024

DC PR25-1063

Local Rent Supplement Program Contract No. 2024-LRSP-08A with 2911 RI Owner LLC Approved Resolution of 2024

DC PR25-0652

Local Rent Supplement Program Contract No. 2024-LRSP-03A with Florida Avenue Apartments LLC Approval Resolution of 2024

DC PR26-0082

Local Rent Supplement Program Contract No. 2025-LRSP-01A with 2151 California Associates LLC Approval Resolution of 2025

DC PR26-0088

Local Rent Supplement Contract Number 2025-LRSP-02A with Flats at South Capitol LLC Approval Resolution of 2025

DC PR25-1024

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

DC PR25-0566

Local Rent Supplement Program Contract No. 2024-LRSP-01A with Ridgecrest Court Investor LLC Approval Resolution of 2023

DC PR25-0611

Local Rent Supplement Program Contract No. 2024-LRSP-02A with Hope View Apartments LP Approval Resolution of 2024

DC PR25-0297

Local Rent Supplement Program Contract No. 2022-ALRSP-02A with Dix Street Residences, LLC Approval Resolution of 2023

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