Source: https://development.code.dccouncil.us/dc/council/code/sections/2-1217.12.html
Timestamp: 2019-04-23 04:21:11+00:00

Document:
D.C. Law Library - § 2–1217.12. DC Ballpark TIF Area.
↪ § 2–1217.12. DC Ballpark TIF Area.
§ 2–1217.12. DC Ballpark TIF Area.
(2) The ballpark as defined under § 47-2002.05(a)(1)(A).
(b) Notwithstanding any other provision of this part, with respect to the DC Ballpark TIF Area, the initial sales tax amount shall mean the available sales tax revenue from locations within the area for the tax year preceding the year in which this section becomes effective and the initial assessed value shall mean the assessed value of each lot of taxable real property on April 8, 2005.
(c) Notwithstanding any other provision of this part, the real property tax increment revenues and the sales tax increment revenues from the DC Ballpark TIF Area shall be allocated and paid into the Community Benefit Fund, established by § 10-1602.02(a), and which is hereby declared to be a tax increment allocation account as described in § 2-1217.05. The revenues so deposited in the Community Benefit Fund shall be used for any of the purposes described in § 10-1602.02(b).
(d) Without limiting the generality of this part, including the ability to apply the real property tax increment revenues and the sales tax increment revenues to the payment of TIF bonds, the funds in the Community Benefit Fund may be used to secure bonds or other evidence of indebtedness issued in accordance with the provisions of § 1-204.90, without regard to any limitations contained in this part.
(e) The $300 million limitation on the issuance of TIF bonds contained in § 2-1217.02(b) and the time limitation on the issuance of TIF bonds contained in such section shall apply to any bonds supported in whole or in part by real property tax increment revenues or sales tax increment revenues allocated to the Community Benefit Fund.
This section is referenced in § 10-1602.03 and § 47-2762.

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