Code of the District of Columbia

§ 2–1217.37a. Definitions.

For the purposes of this subpart, 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 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.

(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 Bryant 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 Bryant Street TIF Area in the applicable 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, in one or more series, authorized to be issued pursuant to this subpart. Unless otherwise specified, the term "Bonds" shall include Refunding Bonds.

(8) "Chief Financial Officer" means the Chief Financial Officer of the District of Columbia established by § 1-204.24a(a).

(9) "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.

(10) "Council" means the Council of the District of Columbia.

(11) "Debt Service" means principal, premium, if any, and interest on the Bonds.

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

(13) "Development Sponsor" means Bryant Street Partners I, LLC, a Delaware limited liability company qualified to do business in the District of Columbia, 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.

(17) "Project" means the financing, refinancing, or reimbursing of Development Costs incurred for certain infrastructure and site development by the Development Sponsor within the Bryant Street TIF Area and adjoining parcels.

(17A) "Refunding Bonds" means the District of Columbia bonds, notes, or other obligations, in one or more series, authorized to be issued pursuant to this subpart to refund the Bonds.

(18) "Reserve Agreement" means that 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.


(Apr. 7, 2017, D.C. Law 21-262, § 2, 64 DCR 2097; Sept. 11, 2019, D.C. Law 23-16, § 2013(a), 66 DCR 8621.)

Emergency Legislation

For temporary (90 days) amendment of this section, see § 2(a) of Bryant Street Tax Increment Financing Emergency Amendment Act of 2019 (D.C. Act 23-13, Feb. 25, 2019, 66 DCR 2467).

Temporary Legislation

For temporary (225 days) amendment of this section, see § 2(a) of Bryant Street Tax Increment Financing Temporary Amendment Act of 2019 (D.C. Law 23-5, Apr. 18, 2019, 66 DCR 2696).