D.C. Mun. Regs. tit. 10, r. 10-B6504

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

Rule 10-B6504 - CERTIFICATION OF QUALIFICATIONS

6504.1

Within forty-five (45) days of receipt of the application, the Development Zone Administrator shall give an applicant written notice of the Administrator's decision as to whether to recommend that the Mayor seek Council approval of the incentive sought.

6504.2

The Development Zone Administrator shall submit findings to the Mayor. At a minimum the Administrator shall make findings as follows:

(a) That an applicant qualifies for named real property tax incentives, specified as to amount and tax year(s) because of the following:

(1) Ownership of real property located in a designated economic development zone;

(2) The subject real property is either Class III or Class IV real property;

(3) The subject real property conforms with zoning regulations;

(4) Rehabilitation of the subject real property began after October 20, 1988;

(5) Costs of rehabilitation exceed fifty percent (50%) of assessed value of property; or

(6) Construction of the subject property began after October 20, 1988;

(b) That an applicant qualifies for a franchise tax credit, in a stated amount, because of the following:

(1) The applicant is a business entity;

(2) The business is located in the District of Columbia; and

(3) The applicant has entered into a First Source Agreement with the District; or

(c) That a proposed area qualifies for designation as a new economic development zone because of the condition of the proposed economic development zone when compared with the District as a whole, based on the following factors:

(1) The unemployment rate;

(2) The poverty rate;

(3) The level of income;

(4) The population decline;

(5) The degree of commercial or industrial development;

(6) The rate of owner-occupied housing;

(7) Job opportunities;

(8) The strength of neighborhood support; and

(9) Private sector commitments. 6504.3

The Development Zone Administrator shall furnish a copy of the Development Zone Administrator's findings, a proposed council resolution, and related documents to the Mayor, so that the Mayor may decide, at the Mayor's discretion, whether or not to submit the proposed resolution to the Council.

D.C. Mun. Regs. tit. 10, r. 10-B6504

Final Rulemaking published at 40 DCR 8626 , 8631 (December 17, 1993)