Source: https://development.code.dccouncil.us/dc/council/code/titles/47/chapters/8/subchapters/V/
Timestamp: 2019-04-21 06:46:02+00:00

Document:
D.C. Law Library - Subchapter V. New York Avenue Metro Special Assessment District.
Subchapter V. New York Avenue Metro Special Assessment District.
(1) “Chief Financial Officer” or “CFO” means the Chief Financial Officer of the District established by § 47-317.01(a) [see now § 1-204.24a].
(3) “General Obligation Bonds” means the District of Columbia general obligation bonds issued, or to be issued, by the District, of which net proceeds in the amount of $25 million shall be paid to the Washington Metropolitan Area Transit Authority to be used to pay costs of the New York Avenue Metro Project.
(4) “New York Avenue Metro Project” means the acquisition, construction, and equipping of a new Metrorail station to be located in the vicinity of New York and Florida Avenues, N.E., Washington, D.C.
(5) “New York Avenue Metrorail Benefit Area” or “MBA” means the special assessment district established under § 47-882.
(6) “New York Avenue Metrorail Benefit Area Account” means the account established under § 47-884.
(7) “Special Assessment Annual Collection Amount” means the amount established under § 47-883.
(8) “Special Assessment Factor” means the Special Collection Amount divided by the aggregate assessed value of real property subject to this subchapter, as determined and adjusted under § 47-883.
(9) “Special Assessment Total Collection Amount” means the aggregate amount of collections under this subchapter established under § 47-883.
(10) “Tax lot” means a tax lot as shown on the real property tax records of the District.
There is hereby established the New York Avenue Metrorail Benefit Area, which shall comprise those tax lots substantially within 2,500 feet from the entrances of the proposed in-fill rail transit station and which are not within 1,250 feet of the existing Union Station rail transit station, more particularly described as all lots included in the following squares or parcels: 616, 617, 618, 619, 620, 621, 668, 669, 670, 671, 672, 673, 674, 709, 710, 710E, 711, 711E, 712, 713, 714, 747, 747N, 748, 749, 772, 772N, 773, 774, 804, 805, 806, 828, 829, 830, 855, 855N, 856, 886, 887, 3514, 3516, 3518, 3519, 3520, 3521, 3522, 3523, 3524, 3527, 3569, 3570, 3571, 3572, 3573, 3574, 3575, 3576, 3580, 3581, 3582, 3583, 3584, 3585, 3587, 3588, 3589, 3590, 3591, 3592, 3593, 3594, 3598, 3600, 3601, 3602, 3603, 3605, 3606, and 3607, and RES0278 and parcel 117; within parcel 129, lots 9, 10, 27, 28, 30, 32, 34, 43, 45, 51, 57, 70, 77, 89, 90, 95, 96, 102, 103, 104, 106, and 112; within parcel 130, lots 57 and 58, and within parcel 141, lot 69.
The CFO shall establish the New York Avenue Metrorail Benefit Area Account within the General Fund for the deposit and application of special assessment revenues from the New York Avenue Metrorail Benefit Area. Monies held, or to be held, in New York Avenue Metrorail Benefit Area Account shall be used to pay the principal of, and interest on, the General Obligation Bonds or any other then outstanding District of Columbia general obligation bonds. When the total aggregate deposits into the New York Avenue Metrorail Benefit Area Account are equal to the Special Assessment Total Collection Amount, the CFO shall so certify to the Mayor.
This section is referenced in § 47-881 and § 47-883.
The CFO may promulgate regulations to carry out the purpose of this subchapter.

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