§ 2–1215.57. NoMa Improvement Association BID.

(a) Subject to review and approval by the Mayor under the provisions of §§ 2-1215.04 and 2-1215.05, the formation of the NoMa Improvement Association BID, including taxable property within the geographic areas set forth in subsection (b) of this section, is hereby authorized and the BID taxes established in subsection (c) of this section are hereby imposed through the expiration date of this subchapter or the termination or dissolution of the BID.

(b)(1) The NoMa Improvement Association BID shall be comprised of the geographic area bounded by a line that starts at the center of the street at the intersection of Massachusetts Avenue, N.E., and 1st Street, N.E.; continuing north along the center line of 1st Street, N.E., to the center line of H Street, N.E.; continuing east along the center line of H Street, N.E., to the center line of 2nd Street, N.E.; continuing north along the center line of 2nd Street, N.E., to the center line of K Street, N.E.; continuing east along the center line of K Street, N.E., to the center line of 3rd Street, N.E.; continuing north along the center line of 3rd Street, N.E. (and including Square 0774, Lot 0058), to the center line of M Street, N.E.; continuing east along the center line of M Street, N.E., to 4th Street, N.E.; continuing along the center line of 4th Street, N.E., to the center line of Florida Avenue, N.E.; continuing northwest along the center line of Florida Avenue, N.E., until it crosses the WMATA rail line; continuing northeast along the boundary of the WMATA rail line until it crosses R Street, N.E.; continuing west along the center line of R Street, N.E., to Eckington Place, N.E.; continuing south along the center line of Eckington Place, N.E., to the center line of Q Street, N.E.; continuing west along the center line of Q Street, N.E. (and including Square 3519, lots 0043, 0063, and 0070), to the center line of North Capitol Street (but excluding Square 3516, lots 0104 through 0114 and 0118 through 0133, and 0807); continuing south along the center line of North Capitol Street to the center line of Eye Street, N.W.; continuing west along the center line of Eye Street, N.W., to the center line of New Jersey Avenue, N.W.; continuing southeast along the center line of New Jersey Avenue, N.W., to the center line of Massachusetts Avenue, N.W., continuing southeast along Massachusetts Avenue, N.W., to the center line of 1st Street, N.E. (the starting point).

(2) Notwithstanding paragraph (1) of this subsection, any property within the NoMa Improvement Association BID geographic area that is also within the geographic area of the Downtown BID shall not be deemed part of the NoMa Improvement Association BID (“overlapping properties”) until October 1, 2007, conditioned upon the receipt of a resolution of the Board of Directors of the Downtown BID agreeing to release any overlapping properties from the Downtown BID.

(c)(1) The BID taxes for the taxable properties in the NoMa Improvement Association BID shall be:

(A) The amount of $0.15 per rentable square foot for buildings of 50,000 square feet or more, which rate shall become effective one year after issuance of final certificate of occupancy; provided, that those buildings which have a certificate of occupancy or other District license for distribution, manufacturing, industrial, storage, or similar warehouse use shall be assessed at the rate set forth in subparagraph (B) of this paragraph;

(B) The amount of $0.05 per $100 of the prior year’s assessed value of all buildings that are less than 50,000 square feet or other unimproved land;

(C) The amount of $90 per hotel room annually; and

(D) The amount of $120 per unit annually for taxable residential condominium properties.

(2) A 4% increase in the BID taxes over the current tax year rates specified in subsection (a) of this section is hereby authorized subject to the requirements of § 2-1215.08(b).