D.C. Mun. Regs. tit. 10, r. 10-B5013

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

Rule 10-B5013 - PRIORITY ALLOCATION OF VOLUME CAP

5013.1

The OBED shall give first priority for purposes of allocation under the District's 1986 Volume Cap to industrial development bond financings for which bond acts have been enacted by the Council and which were awaiting completion of the Congressional layover period required by § 602 of the Act, D.C. Code § 1-233(c)(1) (1985 Supp.) on January 1, 1986.

5013.2

The OBED shall give second priority for purposes of allocation under the District's 1986 Volume Cap to Allocation Applications and Existing Bond Applications that meet the objectives and eligibility requirements of § 5001 as well as the requirements of federal tax law and pending legislation and which propose the financing of facilities to be located in the following geographic areas:

(a) Wards 6, 7, and 8;

(b) Capital City Business and Industrial Park: For purposes of this section, the land within the following boundary descriptions shall be the Capital City Business and Industrial Park:

(1) Beginning at the intersection of New York Avenue, N.E., and 9th Street, N.E.; Northeast on New York Avenue, N.E., to Montana Avenue, N.E.;

(2) North on Montana Avenue, N.E., to W Street, N.E.;

(3) West on W Street, N.E., to 13th Street, N.E.;

(4) Northwest on 13th Street, N.E., to Brentwood Road; N.E.;

(5) Southwest on Brentwood Road, N.E., to 9th Street, N.E.; and

(6) South on 9th Street, N.E., to New York Avenue, N.E.;

(c) Capital City Market: For purposes of this section, the land within the following boundary descriptions shall be the Capital City Market:

(1) Beginning at the intersection of Florida Avenue, N.E., and 5th Street, N.E.; Southwest on Florida Avenue, N.E., to 6th Street, N.E.;

(2) Northwest on 6th Street, N.E., to Penn Street, N.E., including square 3594;

(3) Northwest on Penn Street, N.E., to New York Avenue, N.E.;

(4) Southwest on New York Avenue, N.E., to railroad tracks;

(5) Southwest on railroad tracks to Delaware Avenue, N.E.;

(6) South on Delaware Avenue, N.E., to M Street, N.E.;

(7) East on M Street, N.E., to 4th Street, N.E.; and

(8) North on 4th Street, N.E., to Florida Avenue, N.E.;

(d) Shaw Neighborhood: For purposes of this section, the land within the following boundary descriptions shall be the Shaw Neighborhood:

(1) Beginning at the intersection of 13th Street, N.W., and M Street, N.W.; East on M Street, N.W., to New York Avenue, N.W.;

(2) Northeast on New York Avenue, N.W., to North Capitol Street, N.W.;

(3) North on North Capitol Street, N.W., to Florida Avenue, N.W.;

(4) Northwest on Florida Avenue, N.W., to Bohrer Street, N.W.;

(5) Northeast on Bohrer Street, N.W., to 5th Street, N.W.;

(6) North on 5th Street, N.W., to W Street, N.W.;

(7) East on W Street, N.W., to 4th Street, N.W.;

(8) North on 4th Street, N.W., to Harvard Street, N.W.;

(9) West on Harvard Street, N.W., to 15th Street, N.W.;

(10) South on 15th Street, N.W., to N Street, N.W.;

(11) East on N Street, N.W., to 13th Street, N.W.; and

(12) South on 13th Street, N.W., to M Street, N.W,

(e) Upper Georgia Avenue Corridor: For purposes of this section, any square located on or abutting Georgia Avenue, N.W., beginning at the intersection of Spring Road, N.W. and North on Georgia Avenue, N.W., to Eastern. Avenue, N.W., shall be the Upper Georgia Avenue Corridor; and

(f) Adams Morgan Neighborhood: For purposes of this section, the land within the following boundary descriptions shall be the Adams Morgan Neighborhood:

(1) Beginning at the intersection of Florida Avenue, N.W., and 16th Street, N.W., North on 16th Street, N.W., to Argonne Place, N.W.;

(2) Southwest on Argonne Place, N.W., to Lanier Street, N.W.;

(3) Southwest on Lanier Street, N.W., to Calvert Street, N.W.;

(4) Southeast on Calvert Street, N.W., to Columbia Road, N.W.;

(5) Southwest on Columbia Road, N.W., to Connecticut Avenue, N.W.;

(6) South on Connecticut Avenue, N.W., to Florida Avenue, N.W.; and

(7) Northeast on Florida Avenue, N.W., to 16th Street, N.W.

5013.3

In the event that Allocation Applications and Existing Bond Applications, reviewed by OBED pursuant to § 5013.2, request bond financing in an aggregate amount that exceeds the District's 1986 Volume Cap remaining after allocation of a portion of the District's 1986 Volume Cap to industrial development bonds pursuant to § 5013.1, OBED shall do the following:

(a) Evaluate and rank the Allocation Applications and Existing Bond Applications to determine which best satisfy the objectives of the District's revenue bond program as set forth in § 5000.6; and

(b) Make its findings for allocations under the District's 1986 Volume Cap based on the rankings.

5013.4

In the event that Allocation Applications and Existing Bond Applications, reviewed by OBED pursuant to § 5013.2, request bond financing in an aggregate amount that is less than the District's 1986 Volume Cap remaining after allocation of a portion of the District's 1986 Volume Cap to industrial development bonds pursuant to § 5013.1, OBED shall do the following:

(a) Evaluate and rank all remaining applications for bond financing to determine which best satisfy the objectives of the District's revenue bond program as set forth in § 5000.6; and

(b) Make its findings for additional allocations under the District's 1986 Volume Cap based on the rankings.

5013.5

The OBED shall submit its findings to the Deputy Mayor for Economic Development.

5013.6

The Deputy Mayor for Economic Development shall furnish a copy of OBED's findings to the Mayor.

5013.7

The Mayor, or his or her designee, shall review the findings, and may, in his or her discretion, direct bond counsel to draft a proposed bond act and related documents.

5013.8

After the proposed bond act and related documents are drafted, the Mayor may, in his or her discretion, submit them to the Council.

D.C. Mun. Regs. tit. 10, r. 10-B5013

Final Rulemaking published at 33 DCR 4438, 4440 (July 25, 1986)