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Chairman Linda W. Cropp at the request of the Mayor
A PROPOSED RESOLUTION IN THE COUNCIL OF THE DISTRICT OF COLUMBIA
Chairman Linda W. Cropp, at the request of the Mayor, introduced the following resolution, which was referred to the Committee on _____.
To approve a request for additional time for the disposition of property located in Square 272, Lot 45, to Donatelli & Klein, Inc.
RESOLVED, BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, That this resolution may be cited as the "Extension of Time to Dispose of Square 272, Lot 45 to Donatelli & Klein, Inc. Approval Resolution of 1998".
Sec. 2. The Council of the District of Columbia has reviewed and approved additional time for the Department of Housing and Community Development to dispose of Square 272, Lot 45, to Donatelli & Klein, Inc.
Sec. 3. The Secretary to the Council of the District of Columbia shall transmit a copy of this resolution, upon its adoption, to the Mayor of the District of Columbia.
Sec. 4. This resolution shall take effect immediately.
DISTRICT OF COLUMBIA
PROJECT PROPOSAL SUMMARY
I. DESCRIPTION OF PROPERTY
II. DESCRIPTION OF PROPOSAL
Donatelli & Klein proposes to acquire the property for mixed-use development, including housing, retail, office and parking uses. The project will be developed in three phases over the next 5 years.
III. PROPOSAL BENEFITS
Development of this larger property will have a major impact on the redevelopment of the U Street corridor. What was once a major eyesore and off the District's tax roles for 13 years, will be a major tax and job generator. In addition, the infusion of new homeowners and workers into the area will generate spin-off benefits for local commercial establishments.
IV. REQUIRED PUBLIC ACTION
The public actions required for disposition are: 1 ) approval by the D.C. Financial Responsibility and Management Assistance Authority; 2) public hearing; and 3) execution of sales documents.
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