D.C. Mun. Regs. tit. 10, r. 10-B3203

Current through Register Vol. 71, No. 44, November 1, 2024

Rule 10-B3203 - OFFERING PROCEDURES

3203.1

Each offering shall be announced publicly, and the notices shall be given as widespread a dissemination as is practicable.

3203.2

All announcements shall be published one (1) or more times in the local press. Announcements shall also be distributed to all parties on record with the Department as desiring to receive announcements of site offerings, including Project Area Committees ("PAC"), directly-affected ANC's, community development corporations and other community organizations, as considered appropriate by the Department.

3203.3

If, under the conditions set forth in § 3204, the Department authorizes an offering other than by prospectus, that offering shall be set forth in the public announcement of site availability.

3203.4

The public announcement of site availability shall contain the following:

(a) The parcel being offered;

(b) The use to which the parcel may be put;

(c) The price of the site as determined by the assessed value or a recent appraisal, if available;

(d) The material that must be submitted as part of a qualified proposal;

(e) Where and when the offering documents may be secured;

(f) The length of time the offering will be kept open and the deadline for submission of the proposals;

(g) The cost, if any, of securing the offering document and supporting materials;

(h) The criteria the Department will use in evaluating the proposals;

(i) The procedure the Department will follow to determine an acceptable proposal, including the time limits applicable to the procedure; and

(j) The procedure which will be used following acceptance of a proposal until execution of a disposition agreement.

3203.5

If final designation takes place more than six (6) months after the appraisal required under § 3203.4(c), a new price shall be determined by an updated appraisal.

3203.6

An announcement shall be published in the local press when the offering documents and supporting materials are available for public distribution.

3203.7

Normally each offering document shall consist of a prospectus and supporting material.

3203.8

Each prospectus shall be reviewed and approved by the Director of the Department before it is made available for public distribution. The Director shall approve the prospectus and authorize its publication.

D.C. Mun. Regs. tit. 10, r. 10-B3203

Final Rulemaking published at 41 DCR 7048, 7051 (October 28, 1994)