Source: https://development.code.dccouncil.us/dc/council/code/sections/2-1217.32.html
Timestamp: 2019-04-21 07:01:16+00:00

Document:
D.C. Law Library - § 2–1217.32. Mandarin Oriental Hotel Project fee deferral.
↪ Subpart 2. Mandarin Oriental Hotel Project.
↪ § 2–1217.32. Mandarin Oriental Hotel Project fee deferral.
Subpart 3. City Market at O Street Project.
§ 2–1217.32. Mandarin Oriental Hotel Project fee deferral.
(1) “Development Sponsor” means Portals Hotel Site, LLC, a Delaware limited liability company, and its successors and assigns.
(2) “Mandarin Oriental Hotel Project” means the acquisition and initial development, construction, equipping, and furnishing of a Mandarin Oriental hotel within the Portals project, located on Square 299, Lot 831, consisting of a 400-room hotel with approximately 33,000 square feet of associated meeting and banquet space, 2 restaurants, a health spa and fitness center totaling approximately 10,000 square feet, and approximately 90,000 square feet of public parking space for approximately 200 cars.
(3) “Mandarin TIF Bonds” means the tax increment financing bonds issued in connection with the Mandarin Oriental Hotel Project pursuant to the Tax Increment Revenue Bonds Mandarin Hotel Project Emergency Approval Resolution of 2000, effective March 7, 2000 (Res. 13-510; 47 DCR 2133), and the Mandarin Hotel Project Modification Approval Resolution of 2000, effective December 19, 2000 (Res. 13-745; 48 DCR 83).
(b) All fees to be paid, and any deposits to be made, by or on behalf of the Development Sponsor in connection with the initial development, construction, equipping, and furnishing of the Mandarin Oriental Hotel Project under § 6-661.01, are hereby deferred until the Development Sponsor sells the Mandarin Oriental Hotel Project, as evidenced by the recordation of a deed conveying title to Square 299, Lot 831, at which time such amounts shall be due and payable without penalty or interest.
(c) The amount of all taxes, fees, and deposits deferred under subsection (b) of this section, §§ 42-1102(25), 47-902(19), 47-1002(27), and 47-2005(33), shall not exceed, in the aggregate, $4 million.
(d) This section shall apply upon the closing of the sale of the Mandarin TIF Bonds.
This section is referenced in § 42-1102 and § 47-2005.
For temporary (90 day) amendment of section, see § 2 of Mandarin Oriental Hotel Project Tax Deferral Emergency Act of 2001 (D.C. Act 14-227, January 8, 2002, 49 DCR 682).
For temporary (90 day) amendment of section, see § 2 of Mandarin Oriental Hotel Project Tax Deferral Congressional Review Emergency Act of 2002 (D.C. Act 14-345, April 24, 2002, 49 DCR 4300).
For temporary (90 day) fee deferrals for the Mandarin Oriental Hotel project, see § 2 of Mandarin Oriental Hotel Project Tax Deferral Second Congressional Review Emergency Act of 2002 (D.C. Act 14-563, December 23, 2002, 50 DCR 278).
For temporary (90 day) amendment of section, see § 2 of Mandarin Oriental Hotel Project Tax Deferral Congressional Review Emergency Act of 2003 (D.C. Act 15-36, March 24, 2003, 50 DCR 2764).
For temporary (90 day) repeal of section 5 of D.C. Law 14-232, see § 7018 of Fiscal Year 2010 Budget Support Second Emergency Act of 2009 (D.C. Act 18-207, October 15, 2009, 56 DCR 8234).
For temporary (90 day) repeal of section 5 of D.C. Law 14-232, see § 7018 of Fiscal Year Budget Support Congressional Review Emergency Amendment Act of 2009 (D.C. Act 18-260, January 4, 2010, 57 DCR 345).
For temporary (225 day) addition of section, see § 2 of the Mandarin Oriental Hotel Project Tax Deferral Temporary Act of 2002 (D.C. Law 14-143, May 21, 2002, law notification 49 DCR 5060).
Section 7018 of D.C. Law 18-111 repealed section 5 of D.C. Law 14-232.

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