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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 Economic Development.
To approve the negotiated Land Disposition Agreement (Sales Contract for Lots 90, 91, 92, 105, and 106 and air rights over Lot 125 and Lease Agreement for Lot 125) for the disposition of property (Lots 90, 91, 92, 105, 106 and 125) located in Square 2560, to Adams Morgan Development Limited Partnership.
RESOLVED, BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, that this resolution may be cited as the "Disposition of Lots 90, 91, 92, 105, 106, and 125 in Square 2560 to Adams Morgan Development Limited Partnership Approval Resolution of 1998."
Sec. 2. The Council of the District of Columbia has reviewed and approved the proposed Land Disposition Agreement concerning the lease and sale of Lots 90, 91, 92, 105, 106, and 125 in Square 2560 by the Department of Housing and Community Development to the Adams Morgan Development Company Limited Partnership.
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
A PROPOSAL (LAND DISPOSITION AGREEMENT) TO SELL PROPERTY LOCATED IN SQUARE 2560 (LOTS 90, 91, 92, 105, 106 AND AIR RIGHTS OVER LOT 125) AND LEASE PROPERTY LOCATED IN SQUARE 2560, LOT 125, BETWEEN 18TH STREET, COLUMBIA ROAD, CHAMPLAIN STREET, AND KALORAMA ROAD, IN NORTHWEST.
I. DESCRIPTION OF PROPERTY
II. DESCRIPTION OF PROPOSAL
Adams Morgan Development Company proposed to acquire Lots 90, 91, 92, 105, 106 and the air rights over Lot 125 and to lease for 40 years Lot 125 for the purpose of building a mixed-use development consisting of a 350 space public parking garage (entered from 18th Street, N.W.) approximately 70 market rate condominium apartments and 4,400 square feet of retail space. At the end of the lease period, the District will own the public parking garage.
III. PROPOSAL BENEFITS
Development of this property will greatly relieve the chronic parking shortage in the Adams Morgan commercial area thereby assuring the continued vitality of the many businesses in Adams Morgan. What was once a major eyesore will now produce many market rate housing units, provide much needed public parking and generate much tax revenue. The infusion of new apartment owners into the area will generate spin-off benefits for the local commercial area businesses.
IV. REQUIRED PUBLIC ACTION
The public actions required for disposition are: 1) approval by the D.C. Financial Responsibility and Management Assistance Authority; 2) holding of a public hearing; and 3) execution of the sales contract and lease agreement documents.
The printed legislation also includes District of Columbia Contract No. DC-DHCD-97-35 and Lease Agreement DC-DCHD-97-14 with the Adams Morgan Development Company Limited Partnership.
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