D.C. Mun. Regs. tit. 10, r. 10-B2103

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

Rule 10-B2103 - OFFERING PROCEDURES

2103.1

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

2103.2

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.

2103.3

If, under the conditions set forth in § 2104, the Board authorizes an offering other than by prospectus, that offering shall be set forth in the public announcement of site availability.

2103.4

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 recent appraisal;

(d) The materials 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;

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

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

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

(j) If appropriate, a date by which proposals must be submitted; and

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

2103.5

If final designation takes place more than six (6) months after the appraisal required under § 2103.4(c), a new price shall be determined by an updated appraisal.

2103.6

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

2103.7

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

2103.8

Each prospectus shall be reviewed and approved by the Board by a duly adopted resolution before it is made available for public distribution. The resolution shall approve the prospectus and authorize its publication.

D.C. Mun. Regs. tit. 10, r. 10-B2103

Final Rulemaking published at 29 DCR 5410, 5412 (December 10, 1982)