Code of the District of Columbia

§ 2–1217.33a. City Market at O Street — Definitions.

For the purposes of this subpart [§§ 2-1217.33a to 2-1217.33n], the term:

(1) “Authorized Delegate” means the Deputy Mayor for Planning and Economic Development, the Chief Financial Officer, the Treasurer, or any officer or employee of the executive office of the Mayor to whom the Mayor has delegated any of the Mayor’s functions under this subpart [§§ 2-1217.33a to 2-1217.33n] pursuant to § 1-204.22(6).

(2) “Available Increment” shall have the same meaning as set forth in the Reserve Agreement.

(3) “Available Real Property Tax Revenues” means the revenues resulting from the imposition of the tax provided for in Chapter 8 of Title 47, inclusive of any penalties and interest charges, exclusive of the special tax provided for in § 1-204.81 pledged to payment of general obligation indebtedness of the District.

(4) “Available Sales Tax Revenues” means the revenues resulting from the imposition of the tax under Chapter 20 of Title 47, including penalty and interest charges, exclusive of the portion thereof required to be deposited in the Washington Convention Center Fund established pursuant to § 10-1202.08.

(5) “Available Tax Increment” means the sum of the Available Sales Tax Revenues and Available Real Property Tax Revenues generated in the City Market at O Street TIF Area in any fiscal year of the District minus the sum of Available Sales Tax Revenues and Available Real Property Tax Revenues generated in the City Market at O Street TIF Area in the base year.

(6) “Bond Counsel” means a firm or firms of attorneys designated as bond counsel from time to time by the Mayor.

(7) “Bonds” means the District of Columbia revenue bonds, notes, or other obligations (including refunding bonds, notes, and other obligations), in one or more series, authorized to be issued pursuant to this subpart [§§ 2-1217.33a to 2-1217.33n].

(8) “Chairman” means the Chairman of the Council of the District of Columbia.

(9) “Chief Financial Officer” means the Chief Financial Officer established by § 1-204.24(a)(1).

(10) “Closing Documents” means all documents and agreements, other than Financing Documents, that may be necessary and appropriate to issue, sell, and deliver the bonds, and includes agreements, certificates, letters, opinions, forms, receipts, and other similar instruments.

(11) “Council” means the Council of the District of Columbia.

(12) “Development Costs” has the same meaning as in § 2-1217.01(13).

(13) “Development Sponsor” means City Market, L.L.C., a District of Columbia limited liability company, or any other entity that undertakes the development of the project with the approval of the Mayor.

(14) “District” means the District of Columbia.

(15) “Financing Documents” means the documents, other than Closing Documents, that relate to the financing or refinancing of transactions to be effected through the issuance, sale, and delivery of the bonds, including any offering document, and any required supplements to any such documents.

(16) “Home Rule Act” means Chapter 2 of Title 1 [§ 1-201.01 et seq.].

(17) “Project” means the financing, refinancing, or reimbursing of Development Costs incurred for the acquisition, construction, installing, and equipping of a mixed-use project consisting of retail, commercial, and residential space, and parking in Lots 829 and 830, Square 398.

(18) “Reserve Agreement” means that certain Reserve Agreement, dated as of April 1, 2002, by and among the District, Wells Fargo Bank Minnesota, N.A., and Financial Security Assurance, Inc.

(19) “TIF” means tax increment financing.


(Nov. 25, 2008, D.C. Law 17-278, § 2, 55 DCR 11050.)

Section References

This section is referenced in § 2-1217.33e, § 2-1217.33f, § 2-1217.33g, § 2-1217.33i, and § 2-1217.33j.

Emergency Legislation

For temporary (90 day) additions, see §§ 2 to 15 of Historic Anacostia Project Great Streets Initiative Tax Increment Financing Emergency Act of 2009 (D.C. Act 18-149, July 28, 2009, 56 DCR 6327).

For temporary (90 day) additions, see §§ 2 to 15 of Georgia Avenue Retail Project Great Streets Initiative Tax Increment Financing Emergency Act of 2009 (D.C. Act 18-156, July 28, 2009, 56 DCR 6348).

Editor's Notes

The subpart heading was added by the Codification Counsel as part of the codification of D.C. Law 20-110, §§ 21-211 as Subpart 5 of this part.