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Redevelopment Land Agency Disposition Review Amendment Act of 1999
Bill 13-185

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Chairman Linda W. Cropp

A BILL IN THE COUNCIL OF THE DISTRICT OF COLUMBIA

Chairman Cropp introduced the following bill. which was referred to the Committee on Economic Development.

To amend the District of Columbia Redevelopment Act of 1945 to provide for the expiration of Council approval of any offering document or unsolicited offer pertaining to the disposition of urban renewal property if an exclusive right agreement pertaining to the property has not been executed within 2 years after the effective date of Council approval.

BE IT ENACTED BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, That this act may be cited as the "Redevelopment Land Agency Disposition Review Amendment Act of 1999".

Sec. 2. Section 7(c) of the District of Columbia Redevelopment Act of 1945, approved August 2, 1946 (60 Stat.795; D.C. Code §5-806(c)), is amended as follows:

(a) Paragraph (1) is amended by adding a new sentence at the end to read as follows:

"Council approval of an offering document shall expire 2 years after the effective date of approval if an exclusive right agreement pertaining to the property has not been executed.".

(2) Paragraph (2) is amended by adding a new sentence at the end to read as follows: "Council approval of an unsolicited offer shall expire 2 years after the effective date of approval if an exclusive right agreement pertaining to the property has not been executed.".

Sec. 3. Fiscal impact statement.

The Council adopts the fiscal impact statement in the committee report as the fiscal impact statement required by section 602(c)(3) of the District of Columbia Home Rule Act, approved December24, 1973 (87 Stat. 813; D.C. Code §1-233(c)(3)).

Sec. 4. Applicability.

This act shall apply as of July 1, 1995.

Sec. 5. This act shall take effect following approval by the Mayor (or in the event of veto by the Mayor, action by the Council to override the veto), approval by the Financial Responsibility and Management Assistance Authority as provided in section 203(a) of the District of Columbia Financial Responsibility and Management Assistance Act of 1995, approved April 17, 1995 (109 Stat. 116; D.C. Code §47-392.3(a)), a 30-day period of Congressional review as provided in section 602(c)(1) of the District of Columbia Home Rule Act, approved December 24, 1973 (87 Stat. 813; D.C. Code §1 -233(c)(1)), and publication in the District of Columbia Register.

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