In the case of the Downtown Retail Priority Area, Retail Development Projects shall include, on a demonstration project basis, one or more restaurants; provided, that the total amount of Bonds available for such demonstration projects shall not be greater than 3% of the aggregate principal amount of Bonds authorized pursuant to § 2-1217.72(a). Notwithstanding the defined boundaries of the Downtown Retail Priority Area, the Mayor shall use best efforts to ensure that at least one demonstration project is located in Ward 7 or 8. Not later than 3 years from the issuance of Bonds for demonstration projects, the CFO shall report to the Mayor and the Council regarding the economic effects on the District of such projects.
(Sept. 8, 2004, D.C. Law 15-185, § 4a; as added Sept. 24, 2010, D.C. Law 18-223, § 7112(d), 57 DCR 6242.)
This section is referenced in § 2-1217.71.
For temporary (90 day) addition, see § 7112(d) of Fiscal Year 2011 Budget Support Emergency Act of 2010 (D.C. Act 18-463, July 2, 2010, 57 DCR 6542).
Structure District of Columbia Code
Title 2 - Government Administration
Chapter 12 - Business and Economic Development
Subchapter IX-A - Tax Increment Financing For Retail Development
§ 2–1217.72. Limitations on issuance of Bonds
§ 2–1217.73. Retail Priority Areas
§ 2–1217.73a. Downtown retail priority area-demonstration project
§ 2–1217.73b. Retail Priority Area corridor revitalization programs
§ 2–1217.74. Rules of operation
§ 2–1217.75. Use of Bond proceeds; funding agreement
§ 2–1217.76. Allocation of Tax Increment Revenues
§ 2–1217.77. Issuance of Bonds
§ 2–1217.79. Security for Bonds
§ 2–1217.82. Prior legislation