§ 47–1072. New Columbia Community Land Trust; lots 803, 804, 805, 806, 807, and 808 in square 4110.
(a) The real property located at lots 803, 804, 805, 806, 807, and 808 in square 4110 shall be exempt from taxation so long as the property is owned by the New Columbia Community Land Trust and the property is used as a public park.
(b)(1) The Council orders that all unpaid real property taxes, interest, penalties, fees, and other related charges assessed against real property located at lots 803, 804, 805, 806, 807, and 808 in square 4110, shall be forgiven; provided, that if the property is used or sold for any purpose other than as a public park or for the provision of affordable housing, the sum of all such unpaid real property tax and penalties and all real property taxes accruing thereafter, plus 5% interest, shall be paid to the District of Columbia from the proceeds from the sale; provided further, that this subsection shall constitute a lien against the real property to secure the repayment of such amounts.
(2) For the purposes of this subsection, the term “affordable housing” means residential real property provided under the standards of any affordable housing program in the District of Columbia.
(c) The exemption under this section shall be subject to the provisions of §§ 47-1007 and 47-1009.