To establish, on a temporary basis, a Ward 8 Senior Housing Fund to fund initiatives that creates or maintains affordable housing for Ward 8 residents, prioritizing residents age 55 or older who reside in Squares 5772, 5783, 5784, or 5785 and who meet specified income requirements.
BE IT ENACTED BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, That this act may be cited as the "Ward 8 Senior Housing Fund Establishment Temporary Amendment Act of 2020".
Note § 1-325.401
Sec. 2. (a) There is established as a special fund the Ward 8 Senior Housing Fund ("Fund"), which shall be administered by the Mayor in accordance with subsections (c) and (d) of this section.
(b) Money from the following sources shall be deposited in the Fund:
(1) The $900,000 obtained by the District as part of the settlement agreement in the case, District of Columbia v. Curtis Investment Group, Inc.; and
(2) Any money that may be appropriated to the Fund.
(c)(1) Money in the Fund shall be used to provide rental assistance in the form of a subsidy that is authorized to be used solely for the payment of lease rent and is to be paid to tenants who are:
(A) Seniors, who are 55 years of age or older;
(B) Reside in Squares 5772, 5783, 5784, or 5785; and
(C) Have an income that is less than 80% of the Area Median Income for a household of like size in the Washington Metropolitan Statistical Area as set forth in the periodic calculation provided by the United States Department of Housing and Urban Development.
(2) Nothing in this subsection shall be construed to create any entitlement to a subsidy for rental assistance from the Fund, or to confer on any person an entitlement to a subsidy for rental assistance from the Fund.
(d)(1) The money deposited into the Fund but not expended in a fiscal year shall not revert to the unassigned fund balance of the General Fund of the District of Columbia at the end of any fiscal year or at any other time.
(2) Subject to authorization in an approved budget and financial plan, any funds appropriated in the Fund shall be continually available without regard to fiscal year limitation.
(e) Within 30 days after initial expenditure from the Fund, and on a quarterly basis thereafter, the Mayor shall submit a report to the Councilmember representing Ward 8 and the Chairman of the Council detailing all past and planned expenditures from the Fund.
Sec. 3. Fiscal impact statement.
The Council adopts the fiscal impact statement of the Chief Financial Officer as the fiscal impact statement required by section 4a of the General Legislative Procedures Act of 1975, approved October 16, 2006 (120 Stat. 2038; D.C. Official Code § 1-301.47a).
Sec. 4. Effective date.
(a) This act shall take effect following approval by the Mayor (or in the event of veto by the Mayor, action by the Council to override the veto), a 30-day period of congressional review as provided in section 602(c)(1) of the District of Columbia Home Rule Act, approved December
24, 1973 (87 Stat. 813; D.C. Official Code § 1-206.02(c)(1)), and publication in the District of Columbia Register.
(b) This act shall expire after 225 days of its having taken effect.