§ 1–325.191. Streetscape Business Development Relief Fund.
(a) There is established as a nonlapsing fund the Streetscape Business Development Relief Fund ("Fund"), which shall be used solely to make loans or issue grants in accordance with subsection (c) of this section. The Fund shall be funded by annual appropriations; provided, that for fiscal year 2011, the amount deposited in the Fund shall be $723,000. All funds received from repayments of loans shall be deposited into the Fund.
(b) All funds deposited into the Fund, and any interest earned on those funds, shall not revert to the unrestricted fund balance of the General Fund of the District of Columbia at the end of a fiscal year, or at any other time, but shall be continually available for the uses and purposes set forth in subsection (c) of this section without regard to fiscal year limitation, subject to authorization by Congress.
(c) If the District undertakes a streetscape construction, capital infrastructure, or rehabilitation project, the Mayor, in the Mayor's sole discretion, may make interest-free loans or issue grants from the Fund to a District Main Streets Program organization or individua or entity that operates a retail business within the project boundaries of or adjoining the streetscape construction, capital infrastructure, or rehabilitation project. To obtain a loan or grant, a District Main Streets Program organization or individual or entity operating a retail business shall submit an application in the form and with the information that the Mayor shall require. The Mayor shall determine the terms and conditions of each loan or grant based upon the application submitted by the District Main Street Program organization or individual or entity operating a retail business; provided, that the term of a loan or grant issued pursuant to this section shall not exceed 5 years after the termination of the streetscape construction, capital infrastructure, or rehabilitation project.
(e) Within 180 days of the end of the Fiscal Year 2020, and every year thereafter, the Department of Small and Local Business Development shall submit a report to the Council detailing all loans, grants, and sub-grants issued pursuant to this section, including information on the dollar amount disbursed, recipients of financial assistance, and whether the recipient is a certified business enterprise.