Source: https://development.code.dccouncil.us/dc/council/code/titles/10/chapters/16/subchapters/I/parts/B/
Timestamp: 2019-04-21 02:45:17+00:00

Document:
D.C. Law Library - Part B. Ballpark Construction Hard and Soft Costs Cap.
↪ Chapter 16. Ballpark Development.
↪ Subchapter I. Construction of Ballpark.
↪ Part B. Ballpark Construction Hard and Soft Costs Cap.
Subchapter II. Community Benefit Fund Associated with Ballpark.
Part B. Ballpark Construction Hard and Soft Costs Cap.
§ 10–1601.32. Limitation on contribution of bond proceeds and expenditure of funds.
§ 10–1601.33. Payment in excess of expenditure limits.
(1) “Ballpark”, “Ballpark Site”, and “MLB Team” shall have the same meanings as provided in § 10-1601.05(a)(1), (2), and (4), respectively.
(2) “Bonds” shall have the same meaning as in § 10-1601.03(a)(2).
(3) “Hard costs” means the direct construction costs and builders contingency costs, estimated as $295,075,993 and $24,924,007, respectively, in the revised budget for the ballpark transmitted by the District of Columbia Sports and Entertainment Commission to the Council on February 3, 2006, for the construction of the ballpark.
(4) “Soft costs” means the soft, ancillary, contingency, completion guarantee fee, and financing fee costs for the construction of the ballpark, excluding the land acquisition, environmental remediation, relocation, and demolition costs, estimated as $117,342,193, and excluding the $24 million utilized for the renovation of RFK Stadium, as reflected in the May 31, 2007 revised budget for the ballpark transmitted by the District of Columbia Sports and Entertainment Commission to the Council on June 15, 2007.
For temporary (90 day) addition, see § 2 of Ballpark Hard and Soft Costs Cap and Ballpark Lease Conditional Approval Emergency Act of 2006 (D.C. Act 16-277, February 14, 2006, 53 DCR 1341).
For temporary (90 day) addition, see § 2 of Ballpark Hard and Soft Costs Cap and Ballpark Lease Conditional Approval Congressional Review Emergency Act of 2006 (D.C. Act 16-378, May 19, 2006, 53 DCR 4399).
For temporary (90 day) addition, see § 2 of Ballpark Hard and Soft Costs Cap Emergency Act of 2007 (D.C. Act 17-11, January 26, 2007, 54 DCR 1514).
For temporary (225 day) addition, see § 2 of Ballpark Hard and Soft Costs Cap and Ballpark Lease Conditional Approval Temporary Act of 2006 (D.C. Law 16-115, June 9, 2006, law notification 53 DCR 5353).
For temporary (225 day) addition, see § 2 of Ballpark Hard and Soft Costs Cap Temporary Act of 2007 (D.C. Law 17-1, April 18, 2007, law notification 54 DCR 6580).
(a) The District’s contribution of bond proceeds from public financing to the project budget, and the expenditure of funds, for the construction of the ballpark shall not exceed $300 million for the hard costs and $175,184,218 for the soft costs.
(b) The expenditure limits of $300 million and $175,184,218 shall include public funds from any source expended by the District government or any of its independent agencies or instrumentalities.
This section is referenced in § 10-1601.05 and § 10-1601.33.
For temporary (225 day) addition, see § 3 of Ballpark Hard and Soft Costs Cap and Ballpark Lease Conditional Approval Temporary Act of 2006 (D.C. Law 16-115, June 9, 2006, law notification 53 DCR 5353).
For temporary (225 day) addition, see § 3 of Ballpark Hard and Soft Costs Cap Temporary Act of 2007 (D.C. Law 17-1, April 18, 2007, law notification 54 DCR 6580).
(C) Other non-District government funds, except that District government funds, other than funds in the General Fund of the District of Columbia, may be used if required by the bond indenture to finance the construction of the ballpark.
(b) The funds required by the bond indenture to finance construction of the ballpark, referred to in subsection (a)(3)(C) of this section, include approximately $37 million of baseball revenue collected in 2005 (plus interest), approximately $30 million of interest earned from the borrowing, and approximately $9 million of premium received on the sale of the bonds. These fees shall not exceed the total expenditure limits set forth in this part.
(c) Any revenue derived from development rights on the Ballpark Site by the Anacostia Waterfront Corporation or any District government entity, independent agency, or instrumentality shall not be used for any overruns on the hard and soft costs, but may be used for any overruns on the land acquisition and remediation costs that are documented.
(d) The funds from the sources listed in subsection (a) of this section may be expended to cover any amount of the hard costs in excess of $300 million and any amount of the soft costs in excess of $175,184,218.
This section is referenced in § 10-1601.05.
For temporary (90 day) addition, see § 3 of Ballpark Hard and Soft Costs Cap and Ballpark Lease Conditional Approval Congressional Review Emergency Act of 2006 (D.C. Act 16-378, May 19, 2006, 53 DCR 4399).
For temporary (90 day) addition, see § 4 of Ballpark Hard and Soft Costs Cap Emergency Act of 2007 (D.C. Act 17-11, January 26, 2007, 54 DCR 1514).
For temporary (225 day) addition, see § 4 of Ballpark Hard and Soft Costs Cap Temporary Act of 2007 (D.C. Law 17-1, April 18, 2007, law notification 54 DCR 6580).
(a) The District government, or one of its instrumentalities, such as the Anacostia Waterfront Corporation, shall control development rights on the north side of the Ballpark Site and all but 210,000 square feet of development rights reserved for the MLB Team purposes on the south side of the Ballpark Site. Development on the east side of the Ballpark Site, on First Street, S.E., shall generate revenue to the District and shall be developed in accordance with a plan approved by the Council.
(b) Any excess revenues derived from development rights that are not used for cost overruns for land acquisition and environmental remediation shall be deposited into the Community Benefits Fund established by § 10-1602.02.
For temporary (90 day) addition, see § 4 of Ballpark Hard and Soft Costs Cap and Ballpark Lease Conditional Approval Congressional Review Emergency Act of 2006 (D.C. Act 16-378, May 19, 2006, 53 DCR 4399).
For temporary (90 day) addition, see § 5 of Ballpark Hard and Soft Costs Cap Emergency Act of 2007 (D.C. Act 17-11, January 26, 2007, 54 DCR 1514).
For temporary (225 day) addition, see § 4 of Ballpark Hard and Soft Costs Cap and Ballpark Lease Conditional Approval Temporary Act of 2006 (D.C. Law 16-115, June 9, 2006, law notification 53 DCR 5353).
For temporary (225 day) addition, see § 5 of Ballpark Hard and Soft Costs Cap Temporary Act of 2007 (D.C. Law 17-1, April 18, 2007, law notification 54 DCR 6580).

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