5447731 Resolution 21-88, Jubilee Maycroft TOPA Notice Exemption Emergency Declaration Resolution of 2015

A RESOLUTION

 

21-88 

 

IN THE COUNCIL OF THE DISTRICT OF COLUMBIA

 

April 14, 2015

 

 

To declare the existence of an emergency with respect to the need to exempt Jubilee Maycroft, LLC from the notice requirements of the Tenant Opportunity to Purchase Act of 1980 with respect to the real property located at 1474 Columbia Road, N.W., also known as The Maycroft.

 

            RESOLVED, BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, That this resolution may be cited as the “Jubilee Maycroft TOPA Notice Exemption Emergency Declaration Resolution of 2015”.

 

            Sec. 2. (a)  The District of Columbia is currently experiencing an affordable housing crisis and there exists a need to create and preserve an affordable housing stock.

            (b) Since 2000, more than 15,000 District of Columbia households are paying more than 50% of their income on housing.

(c)  The District of Columbia has lost more than half of its low-cost rental units.

(d)  Low-cost rental units are less than 24% of the total available rental units in the District of Columbia.

(e)  The number of high-cost rental units has more than tripled since 2000, from 12,400 units to more than 45,000 in 2015.

(f)  Spending more than 30% of income on housing costs burdens families.

(g)  Jubilee Housing, Inc. is a faith-based nonprofit organization founded in 1973 to provide affordable housing and supportive services to economically disadvantaged residents of the Adams Morgan neighborhood of the District of Columbia.

(h)  Jubilee Housing, Inc. intends to transfer 99.9% of its interest in Jubilee Maycroft, LLC in order to maintain financing and take advantage of Low Income Housing Tax Credits approved by the District of Columbia Housing Finance Agency.

(i)  These credits will enable units within The Maycroft to remain affordable; provided, that Jubilee Housing, Inc. and Jubilee Maycroft, LLC are able to maintain financing for the project.  Preventing any challenge to the transfer will allow financing to move forward.

(j)  A significant majority of residents living at 1474 Columbia Road, N.W., in a building called The Maycroft, signed a petition, organized by an independent tenant support organization, requesting that Jubilee Housing re-develop their building into an affordable housing apartment building.

(k)  A significant majority of residents living at 1474 Columbia Road, N.W., in a building called The Maycroft, signed a petition, organized by an independent tenant support organization, requesting that any tenant association that legally exists at 1474 Columbia Road, N.W. not file a notice to object to the conveyance.

 

            Sec. 3.  The Council of the District of Columbia determines that the circumstances enumerated in section 2 constitute emergency circumstances making it necessary that the Jubilee Maycroft TOPA Notice Exemption Emergency Act of 2015 be adopted after a single reading.

 

            Sec. 4.  This resolution shall take effect immediately.