Source: https://development.code.dccouncil.us/dc/council/code/sections/47-340.23.html
Timestamp: 2019-04-24 06:16:08+00:00

Document:
D.C. Law Library - § 47–340.23. Use of funds allocated.
↪ Subchapter II-C. Industrial Revenue Bond Fees.
↪ § 47–340.23. Use of funds allocated.
§ 47–340.22. Allocation of funds.
Subchapter II-D. Income Tax Secured Bonds.
§ 47–340.23. Use of funds allocated.
(a) Account monies allocated to the Office of the Deputy Mayor for Planning and Economic Development as provided in § 47-340.22 may be used to pay the costs of operating and administering economic development programs, including the provision of credit support or enhancement, loans, grants, contacts, and the implementation of other initiatives that are consistent with and in furtherance of the purposes of this subtitle or § 47-340.20. The Mayor shall report to the Council the details of how these monies are used in accordance with this subtitle or § 47-340.20.
(C) Provide a means to defray the costs of enhancing economic value and public enjoyment; to attract and retain businesses; stimulate the development of commercial, residential, recreational, and cultural projects; increase employment; promote and expand trade, tourism, and other industries, and contribute to community betterment.
(2) No funds shall be expended from the Account until the Council has approved legislation to authorize their expenditure.
(S) The amount of $150,000 shall be allocated to the Department of Parks and Recreation for the purposes of issuing a grant to the Marvin Deal African Heritage Dancers for studio/theater build-out expenses on newly acquired property at 1230 Good Hope Road, S.E.
This section is referenced in § 47-131.
D.C. Law 16-191, in subsec. (a), validated a previously made technical correction.
D.C. Law 16-192 added subsec. (c).
D.C. Law 16-294, in subsec. (c)(1)(A), substituted “$2 million shall be allocated to the Deputy Mayor for Planning and Economic Development for the purposes of acquisition and redevelopment of property in the 3200 block of Georgia Avenue, N.W., for redevelopment of Park Morton under the Great Streets initiative” for “$1 million shall be allocated to the Deputy Mayor for Planning and Economic Development for the purposes of acquisition and redevelopment of property in the 3300 block of Georgia Avenue, N.W.”; in subsec. (c)(2)(C), deleted “million” following “$950,000”; repealed subsec. (c)(2)(O); and, in subsec. (c)(2)(Q), substituted “6400 block” for “6500 block”. Prior to repeal, subsec. (c)(2)(O) read as follows: “(O) The amount of $1 million shall be allocated to the Deputy Mayor for Planning and Economic Development for the purposes of gap financing economic assistance for proposed mixed use development in the 3600 block of Georgia Avenue, N.W.;”.
D.C. Law 17-353 validated a previously made technical correction in subsec. (c)(1)(A), and in subsec. (c)(2)(C), substituted “of $950,000” for “of $950,000 million”.
For temporary (90 day) amendment of section, see § 1002 of Fiscal Year 2002 Budget Support Emergency Act of 2001 (D.C. Act 14-124, August 3, 2001, 48 DCR 7861).
For temporary (90 day) amendment of section, see § 2112(b) of Fiscal Year 2006 Budget Support Emergency Act of 2005 (D.C. Act 16-168, July 26, 2005, 52 DCR 7667).
For temporary (90 day) amendment of section, see § 2102 of Fiscal Year 2007 Budget Support Emergency Act of 2006 (D.C. Act 16-477, August 8, 2006, 53 DCR 7068).
For temporary (90 day) amendment of section, see § 2102 of Fiscal Year 2007 Budget Support Congressional Review Emergency Act of 2006 (D.C. Act 16-499, October 23, 2006, 53 DCR 8845).
For temporary (90 day) amendment of section, see § 2102 of Fiscal Year 2007 Budget Support Congressional Review Emergency Act of 2007 (D.C. Act 17-1, January 16, 2007, 54 DCR 1165).
For temporary (90 day) amendment of section, see § 3 of Howard Theatre and Seventh Street, N.W., Revitalization Grants Approval Emergency Act of 2008 (D.C. Act 17-348, April 14, 2008, 55 DCR 5202).
For temporary (90 day) addition, see § 3016 of Fiscal Year 2009 Budget Support Emergency Act of 2008 (D.C. Act 17-468, July 28, 2008, 55 DCR 8746).
For temporary (90 day) repeal of section 3016 of D.C. Law 17-219, see § 2 of Boys and Girls Clubs of Greater Washington Plan Repeal Emergency Amendment Act of 2008 (D.C. Act 17-595, December 8, 2008, 55 DCR 12814).
For temporary (90 day) repeal of section 3016 of D.C. Law 17-219, see § 2 of Boys and Girls Clubs of Greater Washington Plan Repeal Congressional Review Emergency Amendment Act of 2009 (D.C. Act 18-10, February 23, 2009, 56 DCR 1913).
Section 3 of D.C. Law 17-190, in subsec. (c)(1)(B), substituted “for the purposes of issuing a grant to support” for “for the purposes of gap financing economic assistance for”.
Section 4(b) of D.C. Law 17-190 provided that the act shall expire after 225 days of its having taken effect.
Section 2 of D.C. Law 17-327 repealed section 3016 of D.C. Law 17-219.
Section 4(b) of D.C. Law 17-327 provided that the act shall expire after 225 days of its having taken effect.
Short title: Section 2101 of D.C. Law 16-192 provided that subtitle H of title II of the act may be cited as the “Great Streets Capital Expenditures Act of 2006”.
Short title: Section 3015 of D.C. Law 17-219 provided that subtitle G of title III of the act may be cited as the “Plan for Boys and Girls Clubs Act of 2008”.
Industrial Revenue Bond Fees Act of 1997: See Historical and Statutory Notes following § 47-340.20.

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