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Extension of Time to Dispose of Square 272, Lot 45 to Donatelli & Klein, Inc., Approval Resolution of 1998
PR 12-722

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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.

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DISTRICT OF COLUMBIA
DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT

PROJECT PROPOSAL SUMMARY
FOR
A PROPOSAL TO SELL PROPERTY LOCATED IN SQUARE 272, LOT 45, AT THE INTERSECTIONS OF 13TH STREET, N.W., 12TH STREET, N.W., V STREET, N.W. and W STREET, N.W.

I. DESCRIPTION OF PROPERTY

A. SQUARE 272, Lot 45
B. WARD 1
C. SIZE 105,480
D. ZONING CR/Arts Overlay
E. VALUE $2,000,000

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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