2023 District of Columbia Code › Title 2 - Government Administration › Chapter 12 - Business and Economic Development › Subchapter IX - Tax Increment Financing › Part B - Identified Projects › Subpart 10 - Reunion Square › § 2–1217.40a. Definitions

§ 2–1217.40a. Definitions.
For the purposes of this subpart, the term:
(1) "Authorized Delegate" means the Deputy Mayor for Planning and Economic Development, the Chief Financial Officer, the Treasurer, or any officer or employee of the executive office of the Mayor to whom the Mayor has delegated any of the Mayor's functions under this subpart pursuant to § 1-204.22(6).
(2) "Available Increment" shall have the same meaning as set forth in the Reserve Agreement.
(3) "Available Real Property Tax Revenues" means the revenues resulting from the imposition of the tax provided for in Chapter 8 of Title 47, inclusive of any penalties and interest charges, exclusive of the special tax provided for in § 1-204.81 pledged to payment of general obligation indebtedness of the District.
(4) "Available Sales Tax Revenues" means the revenues resulting from the imposition of the tax under Chapter 20 of Title 47, including penalty and interest charges, exclusive of the portion thereof required to be deposited in the Washington Convention Center Fund established pursuant to § 10-1202.08, and any amounts to be made available to the Washington Metropolitan Transit Authority pursuant to section 7101 of the Revised Revenue Contingency List Act of 2017, effective December 13, 2017 (D.C. Law 22-33; 64 DCR 7652), and § 9-1111.15(b)(2)(A).
(5) "Available Tax Increment" means, with respect to any series of bonds, the sum of the Available Sales Tax Revenues and Available Real Property Tax Revenues generated in the Reunion Square TIF Area in any fiscal year of the District minus the sum of Available Sales Tax Revenues and Available Real Property Tax Revenues generated in the Reunion Square TIF Area in the base year.
(6) "Bond Counsel" means a firm or firms of attorneys designated as bond counsel from time to time by the Mayor.
(7) "Bonds" or "bonds" means the District of Columbia Class A Bonds, Class B Bonds, and any other revenue bonds, notes, or other obligations, in one or more series, authorized to be issued pursuant to this act. Unless otherwise specified, the term "Bonds" or "bonds" shall include Refunding Bonds.
(8) "Chairman" means the Chairman of the Council of the District of Columbia.
(9) "Chief Financial Officer" means the Chief Financial Officer of the District of Columbia established by § 1-204.24a.
(10) "Closing Documents" means all documents and agreements, other than Financing Documents, that may be necessary and appropriate to issue, sell, and deliver the bonds, and includes agreements, certificates, letters, opinions, forms, receipts, and other similar instruments.
(11) "Council" means the Council of the District of Columbia.
(12) "Debt Service" means principal, premium, if any, and interest on the bonds.
(13) "Development Costs" has the same meaning as in § 2-1217.01(13), and may include any costs for District tenant improvements in the Project.
(14) "Development Sponsor" means Four Points LLC, Curtis Investment Group, and Blue Sky Housing LLC, or any other entity that undertakes the development of the Project with the approval of the Mayor.
(15) "District" means the District of Columbia.
(16) "Financing Documents" means the documents, other than Closing Documents, that relate to the financing or refinancing of transactions to be affected through the issuance, sale, and delivery of the bonds, including any offering document, and any required supplements to any such documents.
(17) "Home Rule Act" means Chapter 2 of Title 1.
(18) "Project" means the financing, refinancing, or reimbursing of Development Costs incurred within the Reunion Square TIF Area.
(19) "Refunding Bonds" means the District of Columbia bonds, notes, or other obligations, in one or more series, authorized to be issued pursuant to this subpart to refund or refinance the Bonds.
(20) "Reserve Agreement" means that certain Reserve Agreement, dated as of April 1, 2002, by and among the District, Wells Fargo Bank Minnesota, N.A., and Financial Security Assurance, Inc.
(21) "TIF" means tax increment financing.
(Mar. 16, 2021, D.C. Law 23-202, § 2, 67 DCR 13876; Sept. 21, 2022, D.C. Law 24-167, § 2022(a), 69 DCR 009223.)
Emergency Legislation
For temporary (90 days) amendment of this section, see § 2022(a) of Fiscal Year 2023 Budget Support Emergency Act of 2022 (D.C. Act 24-470, July 13, 2022, 69 DCR 008707).
For temporary (90 days) creation of this section, see § 2 of Reunion Square Tax Increment Financing Second Emergency Act of 2020 (D.C. Act 23-370, Aug. 10, 2020, 67 DCR 9689).
For temporary (90 days) creation of this section, see § 2 of Reunion Square Tax Increment Financing Emergency Act of 2020 (D.C. Act 23-250, Mar. 17, 2020, 67 DCR 3455).
Temporary Legislation
For temporary (225 days) creation of this section, see § 2 of Reunion Square Tax Increment Financing Temporary Amendment Act of 2020 (D.C. Law 23-146, Oct. 20, 2020, 67 DCR 9941).