Source: http://dccode.elaws.us/code?no=10-1602.02
Timestamp: 2017-05-27 06:21:06
Document Index: 342632015

Matched Legal Cases: ['§ 10', '§ 1', '§ 47', '§ 10', '§ 2082', '§ 10']

District of Columbia Official Code 2001 Edition. Division I. Government of District. Title 10. Parks, Public Buildings, Grounds, and Space. Subtitle IV. Specific Locales. Chapter 16. Ballpark Development. Subchapter II. Community Benefit Associated with Ballpark. § 10-1602.02. Creation of Community Benefit Fund.
(a)(1) There is hereby established within the General Fund of the District of Columbia, a segregated, nonlapsing special revenue fund to be denominated as the Community Benefit Fund. The Chief Financial Officer of the District of Columbia shall pay into the Community Benefit Fund all receipts from those fees and taxes specifically identified by any provision of District of Columbia law to be paid into the fund.(2) The Chief Financial Officer of the District of Columbia shall create a sub-account within the Community Benefit Fund for each type of fee and tax that is to be paid into the fund and shall allocate the receipts from each type of fee and tax to the appropriate sub-account. The Mayor, or any District government agency or instrumentality which has been designated by the Mayor, may pledge and create a security interest in the funds in the Community Benefit Fund, or any sub-account or sub-accounts within the fund for the payment of the costs of carrying out any of the purposes described in subsection (b) of this section, the payment of the debt service on any bonds or other evidence of indebtedness issued by the District, or any District government agency or instrumentality, or any of the purposes described in subsection (b) of this section, without further action as permitted by § 1-204.90(f).(3) If bonds or other evidence of indebtedness are issued, the payment shall be made in accordance with the provisions of the documents entered into by the District or any District agency or instrumentality in connection with the issuance of the bonds or other evidence of a security interest created pursuant to this subsection shall be valid, binding, and perfected from the time the security interest is created, with or without the physical delivery of any funds or any other property and with or without further action. The security interest shall be valid, binding, and perfected whether or not any statement, document, or instrument relating to the security interest is recorded or filed. The lien created by the security interest is valid, binding, and perfected with respect to any person (as defined in § 47-2001(i)) having claims against the District, whether or not the person has notice of the lien.(b) The funds deposited in the Community Benefit Fund shall be used to directly pay or to finance community area priorities, including recreation centers, small business development incentives, job training and readiness programs, school athletic facilities, and such other projects that the Mayor shall find to be of benefit to any area of the District. Any working capital or operating expenses permitted by this section shall be derived from sources from which the funds may be authorized. In addition to the purpose set forth above for the funds deposited in the Community Benefit Fund, there shall be the following expenditures made from the Fund. All expenditures from the Fund shall be submitted to the Council, by legislation for approval.:(1) $5 million shall be made available to the Department of Parks and Recreation for capital investment for a Learning and Sports Center facility to be located adjacent to Fort Greble Recreation Center;(2) $5 million shall be available for school-based athletics, which funds shall be allocated to the Washington Convention and Sports Authority and expended based upon a needs assessment prepared by the Superintendent of the District of Columbia Public Schools;(3) $5 million shall be available for future allocation to projects located within the boundaries of Ward 6;(4) $5 million shall be available for future allocation to projects located within the boundaries of Ward 7;(5) $2 million shall be available for equipment and supplies at McKinley Technology High School to deliver the specialized curriculum in biotechnology, information technology, and broadcast technology;(6) $10 million shall be made available to assess the feasibility of, and begin planning for, the National Capital Medical Center on the grounds of the former D.C. General Hospital;(7) Ten percent of the revenue generated by the bonds authorized pursuant to § 10-1602.03(b) shall be allocated for commercial development in specified areas including the Good Hope Road, South Capitol Street, Martin Luther King Jr. Avenue, and Minnesota Avenue corridors; provided, that boundaries for the aforementioned development shall be designated by the Office of Planning within 120 days of April 8, 2005;(8) An amount not to exceed $125 million shall be made available exclusively for school construction and modernization; and(9) An amount not to exceed $45 million shall be made available for capital improvements for public neighborhood libraries in the District of Columbia.(c) This section shall apply upon the inclusion of its fiscal effect in an approved budget and financial plan.
Effect of Amendments D.C. Law 18-111, in subsec. (b)(2), substituted "Washington Convention and Sports Authority" for "Sports and Entertainment Commission".
Emergency Act Amendments For temporary (90 day) amendment of section, see § 2082(m)(2) of Fiscal Year 2010 Budget Support Second Emergency Act of 2009 (D.C. Act 18-207, October 15, 2009, 56 DCR 8234).
Legislative History of Laws For Law 15-320, see notes following § 10-1602.01.
Miscellaneous Notes Short title: Section 8131 of D.C. Law 19-21 provided that subtitle N of title VIII of the act may be cited as "Community Benefits Fund Amendment Act of 2011".