Upon completion of negotiations with the development sponsor, the CFO may certify the project and submit such certification and the proposed resolution referred to in § 2-1217.03(d) to the Mayor. If the Mayor determines that the resolution is consistent with the requirements of this section, the Mayor shall transmit to the Council a proposed resolution to approve the project, the TIF area, the development agreement, and the amount to be financed. The proposed resolution shall define the TIF area for the eligible project, a summary description of the eligible project and its compliance with the criteria, a listing of the public benefits to be derived from the eligible project, portion of real property tax or sales revenues increment to be allocated to the project; and a summary of the terms of the TIF bonds to be issued with respect to the project. The Council shall approve or disapprove the proposed resolution within 45 days.
1981 Ed., § 1-2293.4.
For temporary addition of §§ 1-2293.1 to 1-2293.11 1981 Ed., see note to § 2-1217.01.
For temporary approval of projects by the Council pursuant to this section, see § 5 of the Tax Increment Financing Emergency Amendment Act of 1998 (D.C. Act 12-562, January 22, 1999, 46 DCR 2104).
For temporary (90-day) addition of section, see § 2(b) of the Tax Increment Financing Authorization Emergency Amendment Act of 1999 (D.C. Act 13-134, August 4, 1999, 46 DCR 6788).
Application of Law 12-271: Section 5 of D.C. Law 12-271 provided that the provisions of the act shall apply to any project approved by the Council pursuant to this section after September 11, 1998.
Section 4 of D.C. Law 13-128 provided: “This act shall apply to any project approved by the Council under section 5 of the TIF Act after July 1, 1999.”
Delegation of Authority
Delegation of authority pursuant to D.C. Law 12-143, the “Tax Financing Act of 1998”, see Mayor’s Order 99-197, December 6, 1999 ( 46 DCR 10566).
Resolution 14-257, the “District of Columbia Tax Increment Revenue Bond Downtown TIF Area Emergency Approval Resolution of 2001”, was approved effective November 6, 2001.
Resolution 14-364, the “Tax Increment Revenue Bond Downtown TIF Area Base Year Emergency Approval Resolution of 2002”, was approved effective February 5, 2002.
Resolution 15-192, the “Tax Increment Revenue Bonds NJA Development Partners, LP Project Approval Emergency Resolution of 2003”, was approved effective July 8, 2003.
Resolution 15-197, the “Tax Increment Revenue Bonds Embassy Suites Hotel Inducement Emergency Resolution of 2003”, was approved effective July 8, 2003.
Resolution 15-381, the “Tax Increment Revenue Bonds 1000 K, L.L.C. Project Approval Resolution of 2003”, was approved effective December 16, 2003.
Resolution 15-426, the “Tax Increment Revenue Bonds NJA Development Partners, LP Project Technical Amendment Emergency Resolution of 2004”, was approved effective January 21, 2004.