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The Neighborhood Development Company and The District of Columbia Housing Authority Sign Long Term Subsidy Contract

WASHINGTON, DC — The Neighborhood Development Company (NDC) announces the signing of a contract with the District of Columbia Housing Authority (DCHA)(www.dchousing.org). This Long Term Subsidy Contract, signed on April 21, 2009, is part of the Local Rent Supplement Program created by DCHA. This project based contract provides for the leasing of fourteen (14) units to families and individuals who meet the criteria set forth by DCHA. This is a 15 year contract with a five year renewal option. This is the first contract executed by DCHA as part of this exciting new District funded initiative designed to work with private developers to expand the supply of affordable housing in the District of Columbia.

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