§ 10-834 — Subsidies.

District of Columbia § 10-834

• Jurisdiction: District of Columbia
• Title 10: Parks, Public Buildings, Grounds, and Space.
• Ch. 8: Sale of Public Lands.
• Subch. II: Special Disposal Procedures for Certain Properties.

Text

(a) The Mayor may offer a subsidy as part of the RFP for the disposition of a bundle of property to:

(1) Attain a clearly stated affordability component; or

(2) Make feasible the rehabilitation and resale or rental of the property at market price.

(b) If the Mayor offers a subsidy as part of an RFP, the subsidy shall be stated as a maximum available amount. The amount of subsidy requested and the affordability levels achieved shall be weighed when determining the points awarded to an offeror.

(c) There is established, under the authority of the Mayor, a designated and nonlapsing account into which proceeds from the sale of bundled properties may be deposited, which shall remain available until expended and the balance of which shall not exceed one million dollars, that shall be used to:

(1) Finance or subsidize the sale of other bundled properties; and

(2) Acquire additional parcels of property.

Legislative History

Apr. 2, 2003, D.C. Law 14-267, § 5, 50 DCR 420; Nov. 13, 2003, D.C. Law 15-39, § 202, 50 DCR 5668; June 8, 2006, D.C. Law 16-119, § 3(d), 53 DCR 2609