District of Columbia § 6-1502 Requirements for new economic development zones.

District of Columbia Statutes

§ 6-1502 — Requirements for new economic development zones.

District of Columbia·Title 6 Housing and Building Restrictions and Regulations.·Ch. 15 Economic Development Zone Incentives.

(a)The Mayor may recommend as an economic development zone eligible for tax and other development incentives any area within the District of Columbia in which exists pervasive poverty, unemployment, or general economic distress as evidenced by 1 or more of the following factors:

(1)The unemployment rate of the area is equal to at least 150% of the annual average unemployment rate in the District of Columbia for the immediately preceding calendar year, as determined by the District of Columbia Department of Employment Services.

(2)The poverty rate for families in the area is at least 20% , as determined by the United States Census Bureau.

(3)The income of at least 70% of the residents of the area is not more than 80% of the median income of residents of the District of Columbia

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(a) The Mayor may recommend as an economic development zone eligible for tax and other development incentives any area within the District of Columbia in which exists pervasive poverty, unemployment, or general economic distress as evidenced by 1 or more of the following factors:

(1) The unemployment rate of the area is equal to at least 150% of the annual average unemployment rate in the District of Columbia for the immediately preceding calendar year, as determined by the District of Columbia Department of Employment Services.

(2) The poverty rate for families in the area is at least 20% , as determined by the United States Census Bureau.

(3) The income of at least 70% of the residents of the area is not more than 80% of the median income of residents of the District of Columbia, as determined by the United States Census Bureau.

(4) The population of the area has decreased at least 20% between the 2 most recent decennial census dates, as determined by the United States Census Bureau.

(b) Before recommending any area as an economic development zone, the Mayor shall make the following findings:

(1) That commercial or industrial development is significantly lacking in the area, but that there is a likely prospect of development if the incentives established by this chapter are available; and

(2) That there is a lack of owner-occupied housing in the area.

(c) Before recommending any area as an economic development zone, the Mayor shall also consider the following factors:

(1) The degree to which the residents of the area may benefit from the job opportunities of an economic development zone;

(2) The strength of neighborhood support for development efforts; and

(3) The level of private sector commitments to an economic development zone.

District of Columbia § 6-1502 (Requirements for new economic development zones.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.