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 9 - Rhode Island Avenue Project › § 2–1217.39a. Definitions

§ 2–1217.39a. 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 Title VII of the Fiscal Year 2018 Budget Support Act of 2017 (D.C. Law 22-33; 64 DCMR 7652)(the Revised Revenue Contingency List Act of 2017), and § 9-1111.15(b)(2)(A).
(5) "Available Tax Increment" means the sum of the Available Sales Tax Revenues and Available Real Property Tax Revenues generated in the Rhode Island Avenue ("RIA") TIF Area in any fiscal year of the District minus the sum of the base amount of the Available Sales Tax Revenues and the base amount of the Available Real Property Tax Revenues generated in the RIA 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" 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 subpart. Unless otherwise specified, the term "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 established by § 1-204.24a(a).
(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 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).
(14) "Development Sponsor" means Mid City Financial Corporation, a corporation qualified to do business in the District of Columbia, or any other entity or entities 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 effected 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 for certain infrastructure and site development within the RIA TIF Area and adjoining parcels.
(18A) "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 the bonds.
(19) "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.
(20) "TIF" means tax increment financing.
(Mar. 22, 2019, D.C. Law 22-263, § 2, 66 DCR 1378; Sept. 11, 2019, D.C. Law 23-16, § 2014(a), 66 DCR 8621.)
Applicability
Applicability of D.C. Law 22-263: § 7165 of D.C. Law 23-16 repealed § 16 of D.C. Law 22-263. Therefore the creation of this section by D.C. Law 22-263 has been implemented.
Applicability of D.C. Law 22-263: § 16 of D.C. Law 22-263 provided that the creation of this section by § 2 of D.C. Law 22-263 is subject to the inclusion of the law’s fiscal effect in an approved budget and financial plan. Therefore that amendment has not been implemented.
Emergency Legislation
For temporary (90 days) amendment of this section, see § 2014(a) of Fiscal Year 2020 Budget Support Congressional Review Emergency Act of 2019 (D.C. Act 23-112, Sept. 4, 2019, 66 DCR 11964).
For temporary (90 days) repeal of applicability provision of D.C. Law 22-263, see § 7165 of Fiscal Year 2020 Budget Support Congressional Review Emergency Act of 2019 (D.C. Act 23-112, Sept. 4, 2019, 66 DCR 11964).
For temporary (90 days) amendment of this section, see § 2014(a) of Fiscal Year 2020 Budget Support Emergency Act of 2019 (D.C. Act 23-91, July 22, 2019, 66 DCR 8497).
For temporary (90 days) repeal of applicability provision of D.C. Law 22-263, see § 7165 of Fiscal Year 2020 Budget Support Emergency Act of 2019 (D.C. Act 23-91, July 22, 2019, 66 DCR 8497).