§ 10-1605.05 — Conditions for the issuance of bonds and the expenditure of bond proceeds.

District of Columbia § 10-1605.05

• Jurisdiction: District of Columbia
• Title 10: Parks, Public Buildings, Grounds, and Space.
• Ch. 16: Sports Facilities.
• Subch. V: Robert F. Kennedy Campus Redevelopment.
• Part A: General.

Text

(a) No bonds may be issued pursuant to this part or the proceeds of those bonds expended, unless the following conditions have been met:

(1) The Transaction Documents shall include terms imposing the following requirements:

(A) Subject to capital reserves described in any capital improvements plan with respect to the Parking Facilities, the District shall have the right to all Net Parking Revenues arising from or related to the use, occupancy, or operation of the Parking Facilities other than during Stadium Event Days;

(B) The Developer and the District shall enter into at least one parking operations agreement regarding operations of the Parking Facilities, including a capital improvements plan;

(C) The Developer shall locate a Team sales office, with senior leadership, in the District by a date set forth in the Transaction Documents;

(D) The Developer shall:

(i) Construct the Stadium using methods and materials in a manner feasibly consistent with the objective of Version 5 LEED Platinum level for New Construction and Major Renovations ("LEED: BD+C v5"), as defined by the U.S. Green Building Council;

(ii) Maintain the Stadium in a manner feasibly consistent with the objective of Version 5 LEED Platinum level for Operations and Maintenance ("LEED: O+M v5"), as defined by the U.S. Green Building Council;

(iii) Construct, or cause to be constructed, the Commercial Development, as defined in the Term Sheet, other than any residential development within the Commercial Development, in a manner feasibly consistent with the objective of Version 5 LEED Gold level for New Construction and Major Renovations ("LEED: BD+C v5"), as defined by the U.S. Green Building Council; and

(iv) Construct, or cause to be constructed, the residential development within the Commercial Development in a manner feasibly consistent with the objective of Version 5 LEED Silver level for New Construction and Major Renovations ("LEED: BD+C v5"), as defined by the U.S. Green Building Council ;

(E) The Developer shall enter into CBE, Apprenticeship, and First Source Agreements with the District that reflect the requirements set forth at § 10-1605.04 ; and

(F) If the Developer fails to complete construction of the required amount of square footage of a stage of development by the outside completion date, all as set forth in the development milestone chart set forth in subsection (b) of this section, then the year in which the rent payable under the Commercial Development Lease, as defined in the Term Sheet, is reset to the Fair Market Rent Amount, as defined in the Term Sheet, shall be accelerated by one year for each missed outside completion date, unless the missed outside completion date is due to force majeure or federal review delays solely due to the reviewing agency (to be defined in the Transaction Documents); provided, that the amount so accelerated shall be equal to the Fair Market Rent Amount multiplied by a percentage determined by dividing the sum of the square footage that the Developer fails to deliver by the applicable outside completion date by the aggregate square footage to be delivered pursuant to the development milestone chart set forth in subsection (b) of this section; provided further, that the acceleration, under this paragraph, from the rent payable under the Commercial Development Lease to the Fair Market Rent Amount rent shall not exceed 10 years; and

(2) The Team, or an affiliate thereof, shall enter into a Community Benefits Agreement with the Mayor, or any District instrumentality or authority designated by the Mayor, and the Council, within 90 days after [September 25, 2025], which shall reflect the terms contained in, and be negotiated, executed, and administered consistent with the provisions of, § 10-1605.08 .

(b) The development milestone chart referred to in subsection (a)(1)(F) of this section is as follows: Stage of Development Required Square Footage Outside Completion Date One 415,000 3 years Two 567,000 5 years Three 342,000 6 years Four 342,000 7 years Five 735,000 8 years Six 885,000 9 years Seven 735,000 10 years Eight 735,000 11 years Nine 960,000 12 years Ten 735,000 13 years

(1) For the purposes of the development milestone chart set forth in subsection (b) of this section, and except as provided in paragraph (2) of this subsection, the outside completion date shall be calculated beginning as of the effective date of the zoning order whereby the Zoning Commission shall have included the Plaza District Commercial Parcel (as defined in the Term Sheet) in the zoning map and regulations for the District. Should the zoning order be judicially challenged, the outside completion date shall be calculated beginning one year after the effective date of the zoning order.

(2) Should the zoning regulation established for the Plaza District Commercial Parcel require design review or further processing by either the Zoning Commission or the Board of Zoning Adjustment, the outside completion date for stage one shall be calculated beginning as of the effective date of the zoning order approving the design review or further processing. Should this zoning order be judicially challenged, the outside completion date for stage one shall be calculated beginning one year after the effective date of this zoning order. In either instance the outside completion date for each subsequent stage of development shall be calculated beginning as of the date applicable to stage one.