D.C. Mun. Regs. tit. 10, r. 10-B6103

Current through Register Vol. 71, No. 36, September 6, 2024

Rule 10-B6103 - DOWNTOWN RETAIL COTNMITTEE

6103.1

The Mayor shall create the Downtown Retail Committee for the Downtown Retail Priority Area for the purpose of evaluating and recommending to the Mayor proposed Retail Development Projects for the Downtown Retail Priority Area as well as the allocable portion of Bond proceeds for each Retail Development Project.

6103.2

The Downtown Retail Committee shall consist of not less than 3 nor more than 15 members. The Downtown Retail Committee shall be comprised of the Mayor, retail brokers and property owners in the Downtown Retail Priority Area and such other persons as the Mayor shall designate. The Mayor shall designate the members of the Downtown Retail Committee and may designate the Chairperson and Vice Chairperson of the Committee

6103.3

Members of the Downtown Retail Committee may not participate in connection with the evaluation of a Retail Development Project in which they may have any ownership or financial interest in either the entity serving as the Retail Project Developer or the retail tenant.

6103.4

Each Downtown Retail Committee member serves at the pleasure of the Mayor and the Mayor may replace any member at any time for any reason.

6103.5

The duties of the Downtown Retail Committee are to:

(a) Apply the rating system (Rating System) provided in Appendix 2 for proposed Retail Development Projects; review and revise the Rating System from time to time as necessary to respond to market conditions;

(b) Compute the Bond allocation (Bond Allocation Amount) based on a numeric formula (Bond Allocation Formula) for each Retail Development Project and adjust the Bond Allocation Formula, as necessary or appropriate, to maximize the use of Bond proceeds to achieve the purposes of the Act;

(c) Recommend Retail Development Projects to the Mayor for designation as TIF Areas in the Downtown Retail Priority Area;

(d) Review Downtown Retail Development Projects applications and recommendations of the Office of the Deputy Mayor for Planning and Economic Development (DMPED) as prescribed in section 6106.6 and vote whether to recommend to the Mayor (i) the Retail Development Project in the Downtown Retail Priority Area for designation as a TIF Area and (ii) a Bond Allocation Amount with respect to such Retail Development Project;

(e) In the event that the Downtown Retail Committee votes to recommend to the Mayor (i) the Retail Development Project for designation as a TIF Area and (ii) a Bond Allocation Amount with respect to such Retail Development Project, direct DMPED, subject to the Mayor's approval and certification of the Retail Development Project, to send a written approval letter (Approval Letter) to the Applicant, as further described in section 6106.7;

(f) Take such other actions as the Mayor may consider necessary or appropriate to facilitate the selection and funding of TIF Areas in the Downtown Retail Priority Area.

6103.6

A simple majority shall constitute a quorum for any meeting or for purposes of any vote. All recommendations to the Mayor with respect to any Retail Development Project shall be by a two-thirds vote of the Downtown Retail Committee.

6103.7

All meetings shall take place in person or by teleconference.

6103.8

Voting may be evidenced in person during a meeting or orally during a teleconference. No member may vote on any issue that was considered at any meeting that such member did not attend.

6103.9

The Chairperson or Vice Chairperson of the Downtown Retail Committee or their designee is to provide prior written notice to each member at least three (3) business days prior to any meeting of the Downtown Retail Committee. Such notice may be provided by e-mail, telecopy (provided the sender receives confirmation that such notice was received), hand delivery, or by United States first-class, certified mail, postage prepaid. Notice shall be deemed received:

(1) on the date the e-mail or telecopy is transmitted (provided the sender has electronic or telegraphic evidence of successful transmission) or on the date of hand delivery (with a signed receipt); or

(2) two (2) business days following receipt of proof of service by United States first class certified mail.

6103.10

The Downtown Retail Committee may request technical assistance from DMPED at any time for any reason, including but not limited to, the evaluation of any Application or any proposed revision of the Rating System or the Bond Allocation Formula.

D.C. Mun. Regs. tit. 10, r. 10-B6103

Final Rulemaking published at 51 DCR 9326 (October 1, 2004); as amended by Final Rulemaking published at 53 DCR 825 (February 10, 2006)