Linda Cropp, at the request of the Mayor
PROPOSED RESOLUTION IN THE COUNCIL OF THE DISTRICT OF COLUMBIA
declare the existence of an emergency with respect to the need to adopt
legislation authorizing the waiver of sales and use taxes during
construction and certain employment tax credits to CareFirst, Inc. in
connection with the acquisition and construction of a new headquarters
building in the District of Columbia.
BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, That this resolution may be
cited as the "CareFirst, Inc. Economic Assistance Act Emergency
Declaration Resolution of 2002".
2. (a) CareFirst, Inc. has agreed to construct a new headquarters building
to be located at 840 First Street, NE, designated as Square 675, Lot 848
(Record Lot 297) (the "CareFirst Project") at which
approximately 1,200 persons will be employed.
Development of the CareFirst Project will keep jobs in the District, will
provide employment opportunities for District residents and will result in
additional real property, franchise, personal property, sales and personal
income taxes to the District.
CareFirst anticipates commencing construction on the CareFirst Project
within the next 60 days.
It is essential that the economic assistance pledged by the District to
encourage CareFirst to keep its headquarters building in the District be
approved prior to the start of construction of the CareFirst Project.
3. The Council of the District of Columbia determines that the
circumstances enumerated in section 2 constitute emergency circumstances
making it necessary that the CareFirst, Inc. Economic Assistance Emergency
Act of 2002 be adopted after a single reading.
4. This resolution shall take effect immediately.