(1) Subject to subsection (d) of this section, the amount of the real property tax imposed by this chapter on a property in an eligible area shall be abated, in an amount calculated pursuant to subsection (b) of this section, for the period [of] time set forth in subsection (c) of this section; [provided], that:
(A) The property is undergoing or planning to undergo a repositioning, as determined by the Mayor;
(B) The property meets any other eligibility requirements established by the Mayor by rules or through a selection process established by the Mayor pursuant to paragraph (2) of this subsection;
(C) The property is selected by the Mayor through a selection process to receive a temporary tax abatement; and
(D) The property is certified by the Mayor to receive the temporary tax abatement provided by this subsection.
(A) The Mayor may establish a selection process under which properties shall apply to be selected to receive the temporary tax abatement under this subsection. The characteristics of the selection process shall be determined by the Mayor and may include competitive scoring, time-limited application periods, selection priority based on the date on which a complete application is received, a prioritization for a certain type of repositioning or a specific portion of the eligible area, a limitation based on the expected dollar amount of the tax abatements associated with the properties selected for certification, and such other factors as the Mayor considers appropriate.
(B) When establishing a selection process pursuant to subparagraph (A) of this paragraph, the Mayor shall not limit eligibility for a tax abatement to certain types of repositioning or, for a tax abatement for a property located in Square 485, Lots 3, 30, 42, 43, 44, and 48, to existing properties utilized only for office use.
(C) Within 60 days after receiving an applicant's submission for a temporary tax abatement under this section, the Mayor shall:
(i) Determine whether the project meets the eligibility requirements of this section, any rules issued by the Mayor pursuant to paragraph (1)(B) of this subsection, and any criteria set forth in the selection process; and
(ii) If the project is selected for a tax abatement by the Mayor, transmit an eligibility and reservation letter to the applicant, subject to such conditions as may be imposed by the Mayor, and subject to the abatement caps in subsection (d) of this section.
(D) The eligibility and reservation letter shall set forth the expected base year for the property, the actual or estimated dollar amount of the real property taxes imposed or to be imposed on the property during the base year, the real property tax years during which the temporary tax abatement provided under this section is expected to apply to the property, and any conditions the project must meet for the property to receive a certification from the Mayor of the temporary tax abatement.
(E) After the repositioning of the property is complete and any conditions of certification have been satisfied, the Mayor shall issue a certification letter to the property owner setting forth the base year, the dollar amount of the real property taxes imposed on the property during the base year, the real property tax years during which the temporary tax abatement provided under this section shall apply to the property, and any conditions imposed on the property's receipt of the temporary tax abatement. The Mayor shall transmit a copy of the certification letter to the Office of Tax and Revenue.
(F) The Mayor may cancel an eligibility and reservation letter for a property if the property has not begun a repositioning within 3 years after the date of the Mayor's eligibility and reservation letter, or within such a period of time as the Mayor may set forth in the eligibility and reservation letter.
(G) No new properties may be selected to receive a temporary property tax abatement after September 30, 2030.
(H) The Mayor shall publicly post online a list of every property that is selected for a temporary tax abatement under this section, with the expected initial dollar amount of the temporary property tax abatement associated with the property.
(b) For each property selected to receive a tax abatement pursuant to subsection (a) of this section, the dollar amount of the temporary tax abatement that the Mayor has certified for a property in a real property tax year shall be equal to the amount by which the real property tax imposed on the property would have increased between the base year and the relevant real property tax year absent the temporary tax abatement provided by this section.
(c) The period of the temporary tax abatement certified by the Mayor for a property under this section shall be 15 real property tax years. The first year of the tax abatement shall be the real property tax year after the repositioning of the property is complete or, if requested by the property owner, the real property tax year during which the repositioning of the property is complete.
(d) The total dollar amount of temporary tax abatements the Mayor may certify for a real property tax year pursuant to this section, including amounts certified in prior years, shall not exceed the following amounts, subject to the availability of funding:
(1) For real property tax years 2025 and 2026, $0;
(2) For real property tax year 2027, $5 million;
(3) For real property tax year 2028, $6 million;
(4) For real property tax year 2029, $8 million; and
(5) For real property tax year 2030 and each subsequent real property tax year, 104% of the prior year's cap.
(1) The Mayor shall certify semiannually to the Office of Tax and Revenue ("OTR"), in a form and medium prescribed by OTR, each property or portion thereof eligible to receive a temporary tax abatement pursuant to this section, as well as the period of time for which the property is eligible for a temporary tax abatement under this section.
(2) The certification required by paragraph (1) of this subsection shall be accompanied by a statement from the Mayor specifying the amount of temporary tax abatements available under subsection (d) of this section for the properties identified pursuant to paragraph (1) of this subsection.
(f) If the amount of tax to be abated for any half tax year for all properties certified under subsection (e)(1) of this section exceeds the total dollar amount of temporary tax abatements available as certified under subsection (e)(2) of this section, the available dollar amount shall be allocated pro rata among all properties certified under subsection (e)(1) of this section.
(g) Any property owner issued a tax abatement pursuant to this subchapter after October 1, 2025, for a property located in Square 485, Lots 3, 30, 42, 43, 44, and 48, shall:
(1) For the duration of the time in which the property owner receives a tax abatement pursuant to this subchapter, lease space to or operate at least one space in the redeveloped property to be leased to or operated by a business or nonprofit entity that maintains or enhances the cultural heritage of the Chinatown neighborhood;
(2) For the duration of the time in which the property owner receives a tax abatement pursuant to this subchapter, lease space to or operate an Asian market open to the public as part of the redeveloped property and, prior to opening, consult with the Chinatown Revitalization Initiative, ANC 2C, and residents of the Wah Luck House to identify products that may be of interest to sell in the market; and
(3) In the first year that a tax abatement is issued pursuant to this subchapter, donate a minimum of $300,000 to the District of Columbia, which shall be made available in full to the Office of the Deputy Mayor for Planning and Economic Development for the purposes of supplementing the funding available for grants issued pursuant to [§ 1-328.04(ii)] , in the next Chinatown Long-Term Lease Grant program cycle following the date of the donation.