Multiyear Contract Number 2025-LRSP-04A with Harvard Court Owner, LLC Approval Resolution of 2025

This resolution approves a 20-year, $707,035 annual subsidy contract under the District's Local Rent Supplement Program (LRSP) to support 22 affordable housing units at Harvard Court Apartments (1425 Harvard Court, NW). The subsidy will enable Harvard Court Owner, LLC to provide housing at reduced rents for extremely low-income households earning 30% or less of the area median income, including vulnerable populations like the chronically homeless, elderly residents, and individuals with disabilities. This contract directly affects the District of Columbia Housing Authority (DCHA), which administers the LRSP, and Harvard Court Owner, LLC, as it authorizes long-term funding for these specific units.