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District of ColumbiaPR26-0243Council Period 26 (2025-2026)HouseWALLET

DC Housing Solutions, Inc. Revenue Bonds Project Emergency Approval Resolution of 2025

Sponsored By: Sponsor information unavailable

Adopted

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 1 benefits, 1 costs, 0 mixed.

Bond financing for District rental housing

Beginning July 1, 2025, the District can issue up to $700 million in bonds and lend proceeds to DC Housing Solutions, Inc. The loan can finance, refinance, or reimburse upgrades to 19 District rental buildings with 3,497 units and shared spaces. Bond money can also cover equipment, eligible working capital, interest, reserves, and financing costs. Replacement bonds are allowed, but total outstanding bond principal cannot exceed $700 million. The authorization expires unless bonds are issued, sold, and delivered to an original buyer within three years, by July 1, 2028. The District has no duty to issue the bonds. Repayment comes from loan payments, bond proceeds, investment earnings, and other sources listed in the financing documents—not District taxing power. Required legal opinions address bond validity and any tax-exempt status. The law does not change rents, housing subsidies, or resident eligibility rules.

Program fees for District housing borrower

Beginning July 1, 2025, the Mayor can charge DC Housing Solutions, Inc. a bond program fee. It can cover bond sales, project oversight, public-benefit agreement checks, records, and help with bond repayment, repurchase, or resale. The law sets no fee amount and does not require households to pay it. Bond proceeds can pay issuance costs, including program and advisory fees. The District does not have to buy the bonds or pay issuance costs, except as specified in the financing documents.

Sponsors & Cosponsors

Sponsors

There is no primary sponsor on record.

Cosponsors

  • Phil Mendelson

    Democratic • House

Roll Call Votes

All Roll Calls

Yes: 12 • No: 0

House vote • 7/1/2025

Final Reading

Yes: 12 • No: 0

Actions Timeline

  1. Resolution R26-0164, Effective from Jul 01, 2025 Published in DC Register Vol 72 and Page 007736

    7/11/2025House

  2. Approved with Resolution Number R26-0164

    7/1/2025House

  3. Legislative Meeting

    7/1/2025House

  4. Retained by the Council with comments from the Committee on Business and Economic Development

    7/1/2025House

  5. PR26-0243 Introduced by Chairman Mendelson at Office of the Secretary

    6/24/2025House

Bill Text

  • Enrollment

    7/1/2025

    PDF

  • Introduced

    6/24/2025

    PDF

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