Declaration of policy.

In order to assist in stimulating the expansion of the supply of decent, safe, and affordable rental housing for low- to moderate-income persons in the District, the Council declares as its policy that the Mayor and the Council shall: (1) Use the District’s bonding authority to provide low-interest financing for the construction of new rental units and the rehabilitation of vacant rental units; and (2) Provide tax abatements and other incentives for the construction of new rental units and the rehabilitation of vacant rental units.