The Standing Finance and Economic Development Committee voted to forward Ordinance 2025-236 to full council with a recommendation to authorize the CAO to execute a grant agreement with Bellevue Gardens V, Virginia LLC and the Economic Development Authority to facilitate the construction of an affordable housing development at 3940 Rosedale Avenue.

Rachel Heitman of the Department of Housing and Community Development described the project as a 78-unit affordable housing development in the Third District with 42 units targeted at households earning 0–50% of area median income (AMI) and 36 units at 50–80% AMI. She said the grant is an affordable-housing performance grant, which is structured as an incremental tax rebate issued after project completion and annual verification of compliance: "The affordable housing performance grant is an incremental tax rebate, which only is in effect after the completion of the project and, when the owner and operator of the housing has been shown to be in compliance for providing affordable units," Heitman said.

Committee members asked whether the ordinance text should specify that the award is a performance grant; staff confirmed the grant agreement attached to the ordinance identifies it as a performance grant and said they would include language to clarify that in the ordinance for future clarity. After a public hearing with no speakers, the committee voted to forward the ordinance to full council with a recommendation to approve; Miss Lynch, Vice Chair Jones and Chair Robertson recorded "aye."