St. Martin’s Apartments project tax exemptions.

(a) For the purposes of this section, the term:

(1) “Affordable rental housing project” means a housing development in which units are rented to households with not more than 60% of area median income (adjusted for household size) as such amount of area median income is determined by the United States Department of Housing and Urban Development when they qualify for admission and for a rent not to exceed the rent ceiling for each unit size, as determined by the District of Columbia Housing Finance Agency in accordance with the Federal Low Income Housing Tax Credit regulations.

(2) “Developer Owner” means St. Martin’s Apartments, LP, and its successors, affiliates, and assigns.

(3) “Developer Sponsor” means C.C.S. Housing, Inc., its successors, affiliates, and assigns.

(4) “St. Martin’s Apartments project” means the acquisition, rehabilitation, and equipping, including the financing, refinancing, or reimbursing of costs incurred, of an affordable housing project located on the land in St. Martin’s Parish located on Lot 116, Square 3531 and leased from the Roman Catholic Archdiocese of Washington or Roman Catholic Archbishop of Washington property, consisting of:

(A) A building containing 178 units of rental housing on the St. Martin’s Apartments property; and

(B) Other ancillary improvements, including the parking facility included within the building and any cellular tower or cellular equipment on or in the building.

(5) “St. Martin’s Apartments property” means the real property, including any improvements thereon, located on Lot 116, Square 3531.