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District of Columbia Anacostia Waterfront Act of 2003
Bill 15-616

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DEC 9 2003

The Honorable Linda W. Cropp Chairman
Council of the District of Columbia
John A. Wilson Building
1350 Pennsylvania Avenue, N.W., Room 504 
Washington, D.C. 20004

Dear Chairman Cropp:

Enclosed for consideration and enactment by the Council is the "District of Columbia Anacostia Waterfront Act of 2003". The purpose of the legislation is to establish the Anacostia Waterfront Corporation ("Corporation") as an independent instrumentality of the District of Columbia government to be the entity primarily responsible for the development, promotion, revitalization, advocacy, representation, and resource aggregation for the lands adjacent to the Anacostia River and associated waterways and adjoining lands.

Over the past couple of months, I have briefed you and other Councilmembers on my proposal in order to solicit your input. These discussions have been productive, and I look forward to continuing our dialogue regarding this bill and the broader vision for strengthening neighborhoods and improving parks along the Anacostia River. In our conversations, there were three key issues that surfaced, which I will address in detail.

What are the benefits of establishing a separate waterfront development corporation versus having the District government undertake the development itself?

A separate waterfront development corporation will operate with a singular and longterm focus on bringing resources, coordination, and energy to the Anacostia Waterfront Initiative ("AWI"). While the corporation will work closely with the Mayor and District Council to achieve the city's shared goals as outlined in approved area plans and projects, it will be able to sustain its long-term mission through any number of changes in political leadership and financial circumstances. A solid foundation for the AWI - with its goal of encouraging healthy, diverse, and sustainable neighborhoods along the river - should be built within a separate and independent waterfront development corporation, rather than within one of the many offices and agencies of the District where the AWI may be forced, in the future, to compete with other short-term priorities.

There is almost universal consensus for the need to build capacity in order to successfully undertake waterfront development in the District. No matter where that capacity is established, there will be associated costs. The benefits of waterfront development, however, will far outweigh the start-up administrative costs required to build capacity and take advantage of current and future market conditions.

The overall Anacostia Waterfront Initiative calls for new residential, commercial, retail, and hotel uses on land currently either underutilized or not utilized at all --- land that has been under District government ownership or control since the establishment of home rule. Over 4,600 units of new housing, over 600,000 square feet of new retail, and over 3,000,000 square feet of new commercial uses are envisioned along the Anacostia River. These new uses are expected to generate up to $1.5 billion in new tax revenues over the next twenty years, in addition to over $4 billion in private investment.

A single-purpose corporation is needed to ensure that this long-term, complex, and important initiative is successful. The Corporation would be dedicated to the sole purpose of advancing, stewarding, and completing this initiative. It would be supported by a professional staff whose complete focus in on projects on the Anacostia River and who can work without distraction from competing projects or changes in leadership. Without the singular and long-term focus of such an entity, it would be difficult to produce any significant and new tax-generating uses over the next five years, much less the next two decades. At a time when the District government is facing lower revenues and higher costs, the city can ill afford to pass up the opportunity for an additional $1.5 billion in tax revenues.

This idea for a distinct waterfront development corporation is not new. Other cities have learned that successful waterfront development first requires building capacity. It also requires coordination between several government agencies - usually involving different state, municipal and federal jurisdictions - over long periods of time in order to complete projects that have physical challenges unique to waterfronts. No existing government agency can handle both waterfront and citywide development projects, and it would go against the experiences of most other cities that have similar and aggressive waterfront development programs. Even in Chicago, where most economic development projects have been run out of the Mayor's office since the 19'h century, the successful Navy Pier development has been the result of a state-chartered corporation - the Metropolitan Pier and Exposition Authority.

The following cities are examples of jurisdictions with successful and thriving waterfronts. They are also examples of areas where a waterfront development corporation or authority has operated separately and distinctly from municipal government in order to advance its mission effectively:

  • Richmond: (Richmond Riverfront Development Corporation and Richmond Renaissance)
  • Chicago: (Metropolitan Pier and Exposition Authority and Department of Planning and Development)
  • Baltimore: (Charles Center-inner Harbor Management Corporation and Baltimore Development Corporation and Mayor's Office of Employment Development)
  • Wilmington: (Riverfront Development Corporation of Delaware and Wilmington Economic Development Corporation)
  • Louisville: (Louisville Waterfront Development Corporation and Greater Louisville, Inc.; Louisville Bancorp, Inc.; and Louisville Central Area, Inc.)
  • New York: (Battery Park City Authority, Hudson River Trust, Queens West Development Corporation and New York City Economic Development Corporation, Empire State Development Corporation, and Lower Manhattan Development Corporation)
  • Memphis: (Memphis Riverfront Development Corporation and Center City Commission, Inc.)
  • San Diego: (Port of San Diego and Centre City Development Corporation and Southeastern Economic Development Corporation)
  • Camden: (Cooper's Ferry Development Association and Camden Redevelopment Agency)
  • Saint Paul: (Saint Paul Riverfront Corporation and Department of Planning and Economic Development)

The proposed corporation is the only structure that can ensure that all the various components of the Anacostia Waterfront Initiative - residential development, maritime uses, recreational uses, transportation infrastructure, commercial and retail development, cultural uses, and more - are coordinated in a way that maximizes the return for the District in the least amount of time and with the greatest impact.

How would the Anacostia Waterfront Corporation Act impact the National Capital Revitalization Corporation's (NCRC) mission and existing projects?

The legislation I am forwarding to you today neither mandates nor even addresses asset transfers from NCRC or any other entity to the Corporation. However, I believe it will be necessary to transfer the Southwest parcels to the Anacostia Waterfront Corporation in order to ensure a comprehensive and coordinated approach to the entire waterfront and its neighborhoods. Some Councilmembcrs have expressed concerns about the impact this would have on the NCRC and it mission.

I believe that the establishment of the Corporation will have an overall positive impact on the NCRC's mission and its existing projects. But I also will assure the Council that I intend to make NCRC whole in any transfer that takes place. Ongoing projects should not be threatened at all by what I am proposing; in fact, it is likely that these projects will be enhanced.

In my meetings with the NCRC Board of Directors, I have made it clear that it is my intent to fairly compensate NCRC for the transfer of the Southwest parcels. My representatives arc in ongoing conversations with NCRC staff about how to fairly compensate NCRC for these parcels in a way that actually strengthens and enhances the ability for the NCRC to fulfill its mission. These discussions are taking place weekly, and I am confident we will reach a positive resolution -- one that may even include a possible transfer of city-owned parcels to NCRC in its target areas.

Today, the NCRC's Southwest parcels are heavily encumbered and virtually impossible to develop without substantial infrastructure and pre-development investment. The transfer of these parcels to the Anacostia Waterfront Corporation - along with appropriate compensation to the NCRC - should allow both entities to be more efficient and streamlined organizations that arc focused in their mission and resources. As a result, the District will see significantly stronger economic development implementation capacity than currently exists.

The mission of NCRC is to be a "catalytic change agent for targeted underdeveloped neighborhoods." This is a critically important function for the District and includes the following major tasks:

  • Developing new retail and restaurants on Georgia Avenue
  • Completing the Request for Proposals for the Wax Museum site and disposition of parcels in Mt. Vernon Triangle
  • Redeveloping the 12-acre Skyland shopping center
  • Developing over 500 units of housing and major retail in Columbia Heights
  • Coordinating the redevelopment off substantial land at Ft. Lincoln
  • Providing life skills training
  • Providing business development advice and financing to small businesses
  • Undertaking a commercial parking initiative
  • Working through a portfolio of hundreds of former RLA properties, including the GPO and Portals sites
  • Many other ambitious and important projects and initiatives.

To be effective in implementing these and future neighborhood revitalization projects in areas such as H Street and East of the River, it is to NCRC's benefit that it maintains a clear focus on the city's neighborhoods. The Corporation will complement NCRC by having a limited geographic area of operations and an exclusive focus on waterfront development, public infrastructure building, maritime activities programming, and intergovernmental relations with Maryland, Virginia and the federal government.

Given the compelling organizational, fiscal and economic reasons for creating distinct, focused economic development entities, best practices from successful cities across the country, and the commitment to strengthening NCRC, it is clear that the establishment of a distinct waterfront development corporation is the most effective and only vehicle capable of ensuring that the enormous benefits of developing the city's long-neglected waterfront areas are realized in a timely manner.

How will the Administration ensure that the Anacostia Waterfront Corporation will be fully operational in a short period of time, should the legislation pass?

I am well aware of the need to avoid any delays in establishing the corporation, should the legislation pass. There are three components of the proposed legislation that will ensure a rapid start-up of the Corporation, once passed by Council.

First, the legislation gives the Mayor the authority to hire the first executive director of the corporation. This avoids inevitable delays that could result from having to wait for the board to be fully installed before having senior staff in place.

Second, the legislation requires that the Corporation be guided by plans approved by Council. The Council has already approved both the Reservation 13/Hill East Plan and the Southwest Waterfront Plan, so on day one the Corporation will have marching orders.

Third, as with other independent entities recently established by Council, the Corporation will be able to used District government employees on a temporary basis. Although it is not expected that the permanent staff of the Corporation would exceed ten or fifteen individuals, the ability to have District employees detailed to the Corporation on a temporary basis will help ensure speedy start-up.

Thank you for relaying your questions and concerns to me and my staff. I look forward to working with you and continuing this dialogue. 1 urge the Council to take prompt and favorable action on the proposed legislation.

Anthony A. Williams


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Chairman Cropp, at the request of the Mayor


Chairman Cropp at the request of the Mayor, introduced the following bill, which was referred to the Committee on Economic Development.

To establish the Anacostia Waterfront Corporation as a body corporate and an independent instrumentality of the District of Columbia government primarily responsible for the development, promotion, revitalization, advocacy, representation and resource aggregation for the lands adjacent to the Anacostia River and associated waterways and adjoining lands, described as all lands including and south of the 1-395 (SE-SW Freeway) to the Washington Channel and the Anacostia River; all federal lands, including those under District control or jurisdiction, along the Anacostia River within the District of Columbia; and all lands including and west of the f-295 and along the Anacostia River (the "Anacostia Waterfront"), before all federal, regional, state and District bodies, both public and private, and to facilitate, direct, and to the extent practicable, manage public and private investment in industrial, commercial, cultural, residential and educational development within such areas.

BE IT ENACTED BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, That this act may be cited as the "District of Columbia Anacostia Waterfront Act of 2003"

See. 2. Definitions.

For the purposes of this act, the term:

(1) "Anacostia Waterfront" means all lands including and south of the I-395 (SE-SW Freeway) to the Washington Channel and the Anacostia River; all federal lands, including those under District control or jurisdiction, along the Anacostia River within the District of Columbia; and all lands including and west of the 1-295 and along the Anacostia River as now existing or as hereafter amended by the Board with the approval of the Mayor and the Council, additionally, for purposes of advocacy, technical assistance and liaison with the federal government only, the area bounded by the Potomac River to the southwest; the Key Bridge to the northwest; Water Street, N.W. to the northeast; and Wisconsin Avenue, NW to the southeast.

(2) "Board" means the Board of Directors of the Corporation.

(3) "Bonds" means revenue bonds, notes, or other obligations, including refunding revenue bonds, notes, or other obligations permitted to be issued by the Corporation pursuant to the provisions of this Act and pursuant to the provisions hereof under (i) section 490 of the Home Rule Act, (ii) the Retail Incentive Act and (iii) other laws of the District enacted to foster economic development.

(4) "Chair" means the chairperson of the Board.

(5) "Chief Financial Officer" or "CFO" means the Chief Financial Officer of the District.

(6) "Code" means the Internal Revenue Code of 1986, as in effect from time to time and any successor thereto.

(7) "Corporation" means the Anacostia Waterfront Corporation established by section 3.

(8) "Council" means the Council of the District.

(9) "Development costs" means all costs and expenses approved by the Corporation relating to the purchase, acquisition, protection, financing, construction, expansion, reconstruction, restoration, rehabilitation, repair, interpretation and the furnishing, equipping, and operating of an eligible project, including without limitation: (i) the purchase or lease expense for land, structures, real or personal property, rights, rights-of-way, roads, franchises, easements, and interests acquired or used for, or in connection with, eligible projects and costs of demolishing or removing buildings or structures on land so acquired; (ii) expenses incurred for acquiring any lands to which buildings may be moved or located; (iii) expenses incurred for utility lines, structures, or equipment charges; (iv) interest prior to, and during, construction and for a period as the Board reasonably may determine to be necessary for the operation of an eligible project; (v) provisions for reserves for principal and interest for extensions, enlargements, additions, improvements, and extraordinary repairs and replacements; (vi) expenses incurred for architectural, engineering, energy efficiency technology, design and
consulting, financial and legal services; (vii) fees for letters of credit, bond insurance, debt service reserve insurance, surety bonds or similar credit, or liquidity, enhancement instruments; (viii) costs and expenses associated with the conduct and preparation of specification and feasibility studies, plans, surveys, historic structure reports, estimates of expenses and of revenues; (ix) expenses necessary or incident to issuing bonds and determining the feasibility and the fiscal impact of financing the acquisition, construction, or development of eligible projects; and (x) the provision of a proper allowance for contingencies, initial working capital, as applicable, and other forms of assistance.

(10)   "District" means the District of Columbia.

(11) "District government" means the government of the District of Columbia.

(12) "Eligible project" means any project eligible for economic assistance under (1) section 490 of the Home Rule Act, approved December 29, 1973 (87 Stat. 809; D.C. Official Code §1.204.90, (ii) the Retail Incentive Act and (iii) any other applicable District law authorizing the issuance of bonds and the making of grants or loans to foster economic development.

(13) "Enhanced services" means with respect to an area within the District, services, including the capital costs and operating expenses related to such services, of a generally public nature supplementing or in addition to those normally performed or provided by the District government within or benefiting the particular areas within the District, which include, but are not limited to, public safety and personal security; fire protection; waste and trash removal; lighting of public rights-of-way and grounds; public transportation; cleaning and clearing of streets, sidewalks, and public grounds; cleaning, painting, repairing and replacing public signage, street and park furniture, fountains, rest areas and rest rooms, kiosks, waste receptacles, barriers, and lighting fixtures; repairing or replacing and marking curbs, gutters, pedestrian ramps and walkways, and parking areas; traffic control; the development of standards and designs for, and assistance with, streetscape and storefront improvements; design, specification, installation, maintenance and replacement of landscaping; planting, removal, and replacement of trees and shrubbery.

(14) "Ex-officio Board member" means a Board member who holds that position by reason of being an officer or employee in another position in the District government.

(15) "Home Rule Act" means the District of Columbia Home Rule Act, approved December 24, 1973 (87 Stat. 777; D.C. Official Code §1-201.01 et seq.).

(16) "Mayor" means the Mayor of the District of Columbia.

(17) "Public citizen Board members" means members of the Board appointed pursuant to section 5(b)(1).

(18) "Retail Incentive Act" means the District of Columbia Retail Incentive Act of 2003, effective   (D.C. Law       ).

Sec. 3. Establishment of the Corporation; purposes; fiscal year.

(a) The Anacostia Waterfront Corporation is established as a body corporate and an independent instrumentality of the District, created to effectuate public purposes provided for in this act, but with a legal existence separate from that of the District government.

(b) The general purpose of the Corporation is to serve as the independent instrumentality of the District primarily responsible for the development, promotion, revitalization, advocacy, representation and resource aggregation for the Anacostia Waterfront, before all federal, regional, state and District bodies, both public and private, and to facilitate, direct, and to the extent practicable, manage public and private investment in industrial, commercial, cultural, residential and educational development within such areas.

(c) The fiscal year of the Corporation shall be the fiscal year of the District government.

Sec. 4. Board of Directors.

(a) The powers of the Corporation shall be vested in, and the Corporation shall be administered by, the Board of Directors.

(b) The Board shall consist of 7 voting members to be appointed as follows:

(1) Five public citizen Board members, appointed by the Mayor with the advice and consent of the Council in accordance with §1-523.01 of the District of Columbia Official Code. The nomination of each public citizen Board member shall be submitted to the Council for a 90-day period of review, excluding days of Council recess. If the Council does not approve the nomination by resolution within this 90-day review period, the nomination shall be 2 deemed disapproved;

(2) Public citizen Board members shall meet the requirements set forth in sec. 4(b)(2)(B) and (C) of the National Capital Revitalization Act of 1998, effective September 11, 1998 (D.C. Law 12-144; D.C. Code § 2-1219.03(b)(2)(B) and (C)) and

(3) Two ex-officio Board members, the Mayor and the Deputy Mayor for Planning and Economic Development.

(c) Board members shall serve the term in office as follows:

(1) Each public citizen Board member shall be appointed to a term of 6 years, except that the terms of the first 5 public citizen Board members shall be staggered so that the term of three such members shall expire 6 years after the date of appointment, the term of one such other member shall expire 5 years after the date of appointment and the term of one such other member shall expire 4 years after the date of appointment. Any public citizen Board  member appointed to fill a vacancy occurring before the end of the term to which that member's predecessor was appointed shall be appointed only for the remainder of the term. A public citizen Board member shall serve after the expiration of the term of office to which that member was appointed until such time as a successor public citizen Board member is appointed. The Mayor may reappoint a public citizen Board member pursuant to subsection (b)(1) of this section, but no public citizen Board member may serve more than 2 full consecutive terms. Any public citizen Board member may resign by filing a notice of resignation with the Corporation. When necessary, the Mayor shall remove a public citizen Board member for inefficiency, neglect of duty, malfeasance in office, or conduct bringing disrespect to, or impugning, the character of the Board or the Corporation.

(2) The District government ex-officio Board members shall serve by virtue of their incumbency in District government offices.

(d) A vacancy on the Board shall he filled in the same manner in which the original appointment was made.

(e) A majority of the number of Board members designated or appointed under this section shall constitute a quorum for the conduct of business; provided, that a quorum shall consist of not less than 4 Board members designated or appointed under this section or such larger number as may he prescribed in the bylaws of the Corporation. No vacancy in any membership of the Board shall impair the right of a quorum to exercise all rights and perform all duties of the Corporation.

(f) The Mayor shall appoint a Chair from among the public citizen Board members. The Chair shall serve for a term of 2 years from the date of appointment and preside over all meetings of the Board. The Board shall elect from among its members a Vice Chair who shall serve for a term of 2 years and preside over meetings of the Board in the absence of the Chair. The Board may appoint such other officers of the Board as it determines appropriate. The officers shall have such duties, not inconsistent with this act, provided in the bylaws and as otherwise determined by the Board.

(g) As soon as practicable after appointment or designation of a majority of its members, the Board shall adopt bylaws, and may adopt guidelines, rules, and procedures for the governance of its affairs and the conduct of its business.

(h) The Board members shall serve without compensation for their membership on the Board and may receive travel, per diem, and other actual, reasonable, and necessary expenses incurred in the performance of their official duties as Board members to the same extent as employees of the District government classified at a Grade 15, Step 1 of the District Services ("DS") Salary Schedule for Nonunion Employees. In no event shall a Board member receive more than $10,000 per annum.

(i) No public citizen Board member who is not an officer of the federal government may delegate their duties as a Board member to any other person.

(j)   The Board shall meet at the times specified in the bylaws, which shall not be less than quarterly each year, and at other times at the call of the Chair or as additionally provided in the bylaws. Notwithstanding any other District law or rule to the contrary, the Board may meet by any electronic means, provided that each Board member may speak, hear, and be heard by the other Board members.

Sec. 5. Meetings of the Board.

(a) All meetings of the Board at which official action is to be taken shall be open to the public, except when the Board is considering matters described in subsection (c) of this section.

(b) Minutes shall be recorded and shall be made reasonably available to all Board members and the Mayor and the Council. All records and minutes of the meetings of the Board shall be available for examination by all Board members, the Mayor, the CFO, and the Council at convenient hours on business days that shall be set and announced for general knowledge. Subject to the provisions of subsection (c) of this section, upon request, any Board member, the Mayor, the CFO, or Council shall be provided a copy of the records and minutes.

(c) Books and records kept by or on behalf of the Board may be withheld from examination or copying by Board members or others to the extent that the records concern:

(1) Personnel matters;

(2) Communications with legal counsel or attorney work-product;

(3) Transactions currently in negotiation and agreements containing confidentiality requirements;

(4) Pending litigation;

(5) Pending matters involving formal proceedings for enforcement of the Board's bylaws, rules, and regulations promulgated pursuant thereto; or

(6) Disclosure of information in violation of law.

Sec. 6. Officers and employees.

(a) The District of Columbia Government Comprehensive Merit Personnel Act of 1978, effective March 3, 1979 (D.C. Law 2-139; D.C. Official Code §1-601.01, et seq.) shall not apply to employees of the Corporation, except as otherwise provided in this act.

(b) The Corporation shall establish a personnel system and adopt written rules and procedures relating to employment matters including without limitation, appointments, compensation, leave policies, injured worker compensation, employee education and training, promotions, retirement programs, voluntary and involuntary separations, and other adverse actions. All matters regarding personnel of the Corporation requiring Board action shall require an affirmative vote of 5/7ths of the members of the Board.

(c) Prior to the appointment of the Board members, as provided in section 5(b) of this act, the Mayor may appoint the initial chief executive officer, who (1) shall direct and supervise the general management and administrative affairs of the Corporation, and (2) may appoint additional officers and employees as he or she determines appropriate, subject to the budget of the Corporation. The chief executive officer shall be a resident of the District or shall become a resident within 6 months of his or her hiring date and shall remain a District resident for the duration of his or her employment by the Corporation. Upon the resignation or termination of the initial chief executive officer, any subsequent chief executive officer may be selected by the Board. The chief executive officer can only be terminated by an affirmative vote 4 of 5/7ths of the members of the Board.

(d) (1) The Mayor shall fix, adjust, and administer the compensation (including benefits) for the initial chief executive officer, and the Board shall fix, adjust, and administer the compensation (including benefits) for any subsequent chief executive officer.

(2) The chief executive officer shall fix, adjust, and administer the compensation including benefits) for all other officers and employees of the Corporation.

(e) The Corporation is authorized to establish and administer its own employment benefits programs for individuals who become employed by the Corporation other than individuals who make an election under subsection (1) of this section.

(f) Each employee of the District government with accrued and vested benefits under health, life, and retirement benefit plans of the District government pursuant to subchapters XXI, XXII, and XXVI of the District of Columbia Government Comprehensive Merit Personnel Act of 1978, effective March 3, 1979 (D.C. Law 2-139; D.C. Official Code §§1-622.01-1.622.15, 1-623.01-1-623.14 and 1-627.01-1-627.14), who becomes and remains continuously employed by the Corporation may elect to be treated, for the purposes of such District benefit programs, as if such employee had remained continuously in the employ of the District government with all attendant rights, benefits, and privileges that have accrued to, and vested in, such employee. Any employee whose employment with the District government is restored, shall be entitled to have that employee's service with the Corporation treated, for purposes of determining the applicable leave accrual rate and other benefits, as if such service with the Corporation had been with the District government.

(g) An election made under subsection (f) of this section shall not be effective unless it is made before the employee separates from prior service with the District government, and the employee's service with the Corporation commences within 30 calendar days after so separating (not counting any holiday observed by the District government). If an employee makes an election, the Corporation shall make the same deductions from pay and the same employer contributions for the corresponding programs as would be made if the Corporation were the agency of the District government that employed the employee.

(h) Any regulations necessary to carry out the provisions of subsections (f) and (g) of this section may be prescribed by the Mayor.

(i) No political test or qualification shall be used in selecting, appointing, assigning, promoting, or taking other personnel actions with respect to officers and employees of the Corporation.

(j) Upon the request of the Corporation, the Mayor, and the governing officer or body of each instrumentality of the District, by delegation, contract, or agreement may direct that personnel or other resources of a District department, office, agency, establishment, or instrumentality be made available to the Corporation on a reimbursable or other basis to carry out the Corporation's duties. Personnel detailed to the Corporation under this subsection shall not be considered employees of the Corporation, but shall remain employees of the department, agency, establishment, or instrumentality from which such employee was detailed.

(k) With the consent of any executive agency, department, or independent agency of the federal government or the District government, the Corporation may utilize the information, services, staff, and facilities of such department or agency on a reimbursable or other basis.

(1) In carrying out the Corporation's duties, the Corporation may utilize, to the maximum extent possible, both contract services and pro bono services, provided that such services are itemized in the annual report of the Corporation.

Sec. 7. Limitations of actions.

Any legal action arising from the application of any rule or procedure adopted by or prescribed by, or with respect to any determination of, the Board pursuant to this act, or after the date that notice of the adoption or prescription of the rule or procedure that is the subject of the action appears in the District of Columbia Register, shall be filed within 90 days after the date of the occurrence of the event that is the subject of the legal proceeding. In any such legal action arising from actions of the Corporation, or from the Corporation's failure to act, the Corporation shall be represented by the counsel of its choosing. Nothing in this section shall be interpreted as authorizing actions or as making a justiciable issue of any action by the Board or Corporation taken within the discretion vested in it by this act.

Sec. 8. Relation to other laws.

(a) No District laws, rules, or orders governing procurement or administrative procedures shall apply to the Corporation, or any subsidiary thereof, its activities, Board members, or officers or employees of the Corporation, or any subsidiary thereof, except as otherwise provided for in this act.

(b) Real property owned by the Corporation, or any subsidiary thereof, shall be exempt from taxation; provided, that when the real property is sold or leased by the Corporation or any subsidiary thereof to a person other than the Corporation or any subsidiary thereof, the real property shall be subject to taxation from the date of transfer by the Corporation thereof.

(c) The Corporation, any not-for-profit subsidiary of the Corporation, and their income, property, transactions, and right to do business shall be exempt from any taxation, direct or indirect, within the District, including, without limitation, any sales, use, franchise, gross sales or receipts, income, personal property, transfer, or excise tax.

(d) The Corporation, its subsidiaries and its contractors shall comply with historic preservation, zoning laws, and permitting processes and procedures.

Sec. 9. Establishment of Enterprise Fund.

(a) There is established the Anacostia Waterfront Corporation Enterprise Fund ("Fund") which shall be operated by the Corporation in accordance with generally accepted 12   accounting principles.

(b) Subject to the provisions made by the Corporation pursuant to this act for security of revenue bonds, all revenues, proceeds, and moneys from whatever source derived which are collected or received by the Corporation shall be credited to the Fund and shall not, at any time, be transferred to, lapse into, or be commingled with the General Fund of the District, the Cash Management Pool, or any other funds or accounts of the District.

Sec. 10. Rules with respect to gifts, procurement of goods and services, property disposition.

The Corporation shall adopt written guidelines or rules and procedures pertaining to the:(1) Solicitation, acceptance, holding, investment, administration, use, and disposition of gifts, grants, or subsidies of money by the Corporation; (2) Procurement of goods and services by the Corporation; and (3) Disposition of property by the Corporation.

Sec. 11. Prohibition on political activity.

The Corporation may not expend any funds to influence legislation, other than in connection with testimony by a Board member or an officer or employee of the Corporation before a committee of Congress or of the Council, or in responding to a written request from a member of Congress of the United States or the Council, or a committee of the Congress or of the Council. This prohibition shall not apply to legislation proffered by, or specifically applicable to, the Corporation. The Corporation shall not expend any funds in connection with political entities of any kind or to support the lobbying efforts of any nonprofit charitable group.

Sec. 12. Conflict of interest; disclosure; waiver of bar against participation by interested party.

(a) Any member, officer, or employee of the Corporation who is interested either directly or indirectly, or who is an officer or employee of, or has an ownership interest in any firm or agency interested directly or indirectly in any transaction with the Corporation including, but not limited to, any bond issuance or financial assistance allowed under this act to any sponsor, builder, or developer, shall disclose this interest to the Corporation. This interest shall be set forth in the minutes of the Corporation, and the member, officer, or employee having the interest shall not participate on behalf of the Corporation in the authorization or implementation of any such interested transaction. The Board shall not be allowed to waive a member's, officer's, or employee's inability to participate in circumstances where the interest falls within guidelines adopted as rules promulgated by the Board.

(b) Members of the Board who hold that position by reason of being an officer or employee in another position in the District government (ex-officio) shall be considered public officials. Any effort to realize personal gain through conduct as an ex-officio Board member shall be a violation of the public trust. Activities of ex officio Board members shall be governed by §§ 601 and 602 of the District of Columbia Campaign Finance Reform and Conflict of Interest Act, approved August 14, 1979 (88 Stat. 465; D.C. Official Code §§1-1106.01 and 1-1106.02)

Sec. 13. Assistance for eligible projects.

Through and in keeping with the delegation of authority provided by the Council pursuant to the Home Rule Act in section 17 of this act:

(a)   The Corporation may provide economic assistance for eligible projects through the issuance of bonds, the making of loans or the making of grants as provided in section 17 of this act. The eligibility criteria, the procedures to be followed as well as the approvals needed, including Council's approval of an eligible project, where applicable, prior to providing such economic assistance will be governed by the applicable District law which provides the authority for such assistance as it relates to a particular eligible project.

(b)   The Corporation may also assist eligible projects in any other manner authorized by this act through the exercise of the Corporation's general powers.

Sec. 14. Corporation's responsibilities related to the Anacostia Waterfront.

In addition to providing assistance for eligible projects under the provisions of section 13, the Corporation shall, consistent with the purposes of this act and pursuant to and in keeping with the general powers granted to the Corporation under this act, (i) serve as the independent instrumentality of the District primarily responsible for the development, promotion and revitalization, advocacy, representation and resource aggregation for the Anacostia Waterfront, before all federal, regional, state and District bodies, both public and private and (ii) take such action as viewed as necessary by the Corporation in furtherance of such duties and responsibilities. Pursuant to this section 14, all plans and projects related to the areas described above that may be developed by the District or any agency or instrumentality thereof (the District and any agency or instrumentality thereof shall be referred to as a "Government Entity") shall be subject to review and comment by the Corporation prior to such Government Entity proceeding with such plans or projects. Thirty days written notice, excluding Saturdays, Sundays and legal holidays, of proposed actions regarding such plans and projects developed by a Government Entity shall be given by first class mail or recognized overnight courier service or by facsimile to the Corporation. The Corporation may review such action or actions. The recommendations of the Corporation, if any, shall be in writing and articulate the basis for its decision. At the close of business after which the thirty-day notice period concludes, the affected Government Entity may proceed to make its decision. The issues and concerns raised by the Corporation shall be given great weight during the deliberations by the affected Government Entity. Great weight requires acknowledgement of the Corporation as the source of the recommendations and explicit reference to each of the Corporation's issues and concerns. In all cases the affected Government Entity is required to articulate its decision in writing. The written rationale of the decision shall articulate with particularity and precision the reasons why the Corporation does or does not offer persuasive advice under the circumstances. In so doing, the affected Government Entity must articulate specific findings and conclusions with respect to each issue and concern raised by the Corporation. Further, the affected Government Entity is required to support its position on the record. The affected Government Entity shall promptly send to the Corporation and the affected Ward Councilmember a copy of its written decision. The Corporation shall not have the power to initiate a. legal action in the courts of the District of Columbia or in the federal courts regarding the actions of a Government Entity pursuant to this section, provided that this limitation does not apply to or prohibit any Board member from bringing suit as a citizen.

Sec. 15. General powers.

(a)   Notwithstanding any other provision of District law, the Corporation shall 6   have the power to:

(1) have succession until dissolved as provided in section 23;

(2) sue and be sued and to complain and defend, in its own name;

(3) make and from time to time amend and repeal by-laws, rules and regulations;

(4) establish subsidiary corporations in accordance with section 18 of this act and consistent with the purposes of this subsection;

(5) adopt, alter and use a corporate seal which shall be judicially noticed, provided that the absence of such seal on any contract or other document shall not affect its validity;

(6) maintain offices at the place or places in the District as it determines appropriate;

(7) undertake (or cause to be undertaken) studies and plans necessary or desirable to (i) determine the feasibility of development or redevelopment and (ii) to facilitate development or redevelopment in connection with an eligible project;

(8) cooperate with any federal or District governmental or quasi-governmental authority;

(9) act as agent of the District or federal government or their instrumentalities or agencies to undertake development or redevelopment as delegated by such governmental entities;

(10) contract with the District or federal government, and take all actions required for the furnishing, planning, replanning, constructing, installing, opening or closing of streets, roads, roadways, alleys, sidewalks or other places or facilities, or for the acquisition by the District or the federal government of property options or property rights or for the furnishing of property or services in connection with an eligible project;

(11) contract with the District or the federal government, and take all actions required (1) to provide and maintain parks, recreational centers, schools, sewerage, transportation, water and other municipal facilities adjacent to or in connection with an eligible project; and (2) contract with the District or the federal government and take all actions required to plan, replan, zone or rezone any part of the District in connection with any plan or study of the Corporation;

(12) assemble, purchase, obtain options upon, acquire by gift, grant, bequest, devise or otherwise any real or personal property or any interest therein from any person, firm, authority, municipality or government;

(13) acquire by eminent domain pursuant to the provisions herein, any 19 real property included as a part of an eligible project, including improvements and fixtures, for the public purpose of redevelopment;

(14) own, hold, clear, improve, redevelop, rehabilitate, alter and manage real property;

(15) pursuant to the provisions herein., sell, lease or otherwise transfer any real property included as a part of an eligible project;

(16) procure insurance or guarantees from the District or federal government of the payments of any debts or parts thereof incurred by the Corporation, and to pay premiums in connection therewith;

(17) borrow from private lenders, from the District or federal government, or any other person, funds as may be necessary for the operation and work of the Corporation;

(18) invest any funds held in reserves or sinking funds or any funds not required for immediate disbursement, in such investments as may be lawful for executors, administrators, guardians, trustees and other fiduciaries;

(19) make and execute contracts and other instruments necessary or convenient to the exercise of the powers of the Corporation;

(20) hire employees necessary or desirable to fulfill the purposes of the Corporation or to contract with the District or federal government for the services of either of their employees and to fix and adjust their compensation;

(21) engage experts, including, without limitation, advisers, consultants, legal counsel, accountants, general agents, and fiscal agents to aid the Corporation in carrying out the purposes of this act, and to fix and adjust their compensation;

(22) receive grants, appropriations, pledged revenues or other funds from the District or federal government or instrumentality thereof;

(23) pursuant to the provisions herein, make, directly or indirectly, secured or unsecured loans to any purchaser or owner of an eligible project for the purpose of financing the purchase, construction, rehabilitation, demolition or equipping of an eligible project;

(24) pursuant to the provisions herein, make loans to or deposits with, without requiring collateral security therefore, any financial institution, in order to enable that financial institution to finance the acquisition, construction, rehabilitation or equipping of an eligible project, receive interest on such deposits as may be agreed to with the financial institution, purchase and hold notes or other obligations secured by mortgages, deeds of trust or security interests in eligible projects or property used as additional security, sell, assign, pledge or encumber any security, including mortgages or other security agreements, held by or granted or received in connection with the financing of eligible projects and grant to any trustee, in addition to any other rights or remedies contained therein or in any documents granting such security;

(25) pursuant to the provisions herein, provide grants for eligible projects;

(26) charge and collect fees or charges as determined by the Corporation to be appropriate in connection with assistance and enhanced services provided by the Corporation;

(27) pursuant to the provisions herein, issue bonds and secure the payment of such bonds or any part thereof by pledge, mortgage or deed of trust of all or any part of its property and of its revenues and receipts, and to make such agreements with the purchasers or holders of such bonds, or with others in connection with any such bonds, whether issued or to be issued, and in general to provide for the security for said bonds by mortgage, pledge or otherwise and for the rights of the holders thereof;

(28) settle, adjust, and compromise, and with or without consideration 2 or benefit to the Corporation, release or waive in whole or in part, in advance or otherwise, any claim, demand, or right of, by, or against the Corporation;

(29) indemnify or insure Board members and officers of the Corporation as it determines appropriate;

(30) reimburse for their reasonable expenses of removal, any persons (including families, business concerns and others), who have been displaced as a result of any other government activities related to the development or redevelopment of an eligible project or any activities of the Corporation in accordance with section 1 of "An Act to Authorize Commissioners of the District of Columbia to Pay Relocation Costs Made Necessary by Actions of the District of Columbia Government or for Other Purposes", approved October 6, 1964 (78 Stat. 1004; D.C. Official Code §6-333.01).

(31) purchase insurance or self-insure against any loss in connection with its property and other assets or other risks, in such amounts and from such insurers as it deems appropriate

(32) establish advisory committees or working task groups of Board members, professionals, and citizens to aid the Corporation in carrying out the purposes of this act.

(33) solicit, apply for, accept, receive, hold, administer, use, and dispose of gifts, bequests, donations, grants, trusts, or subsidies of money, services, or property (real, personal, or mixed) from any source to aid the Corporation in carrying out the purposes of this act;

(34) provide assistance to the District government through the provision of information, advice, guidelines, and suggestions for implementing, reorganizing, realigning, or improving programs and services of the District government;

(35) prepare, publish, and distribute, with or without charge, studies, reports, bulletins, manuals, maps, data, solicitations, promotional products, management software, and other materials as it deems appropriate;

(36) form or join associations, partnerships, or joint ventures;

(37) provide enhanced services in connection with eligible projects;

(38) provide, by vote of the Board, assistance in connection with development costs of eligible projects directly or in participation with any applicant, financial institution, fund, person, or other source of financing, private or public, including any department, agency, establishment, or instrumentality of the federal or District government, and enter into any contract, agreement, or commitment assistance that the Board determines appropriate;

(39) take all actions and do all things that it determines necessary or 16 convenient to carry out the functions of the Corporation under this act that are not inconsistent with applicable federal or District laws; and

(40) exercise any other power usually possessed by, and incident to, public enterprises performing similar functions or private business organizations organized under the business laws of the District, respectively, to the extent that the exercise of such powers is not inconsistent with applicable federal or District law or the purposes of this act.

(b) The Corporation may, in accordance with section 6 of the District of Columbia Administrative Procedure Act, approved October 21, 1968 (82 Stat. 1209; D.C. Code §1-1506) promulgate reasonable rules, regulations, or orders as are necessary or appropriate to carry out and effectuate the provisions of this act.

(c) The powers conferred by this act are for public uses and purposes for which public powers may be employed, public funds may be expended, and the power of eminent domain and the police power may be exercised. The granting of such powers are necessary and in the public interest.

Sec. 16 Revolving funds.

(a)   The Corporation may establish one or more revolving funds for, or in connection with, providing any one or more types of assistance authorized by this act, including, without limitation, the administration of capital development, programs and other activities.

(b) Payments received by the Corporation as returns on investment from assistance provided by the Corporation from any revolving fund may be deposited into the revolving fund from which assistance was made or into any other revolving fund established by the Corporation as the Corporation determines appropriate, and may be transferred between revolving funds as the Board determines appropriate. Funds received by the Corporation from any other source which are not required to be otherwise disposed of may be deposited into any revolving fund established by the Corporation and transferred between revolving funds as the Board determines appropriate. Funds deposited into any revolving fund established by the Corporation shall be available to the Corporation for assistance under this act, including the involvement of the Corporation in partnerships, joint ventures, or other equity arrangements, and to pay all expenses of the Corporation necessary and incident to furthering the purposes of this act.

(d) The Corporation may establish one or more special or reserve funds in furtherance of its authority under this act. The Corporation may manage its special or reserve funds.

(e) All authority with respect to funds, revolving funds, and accounts shall be subject to any special provisions made in documents pertaining to outstanding bonds of the Corporation.

(f) Subject to provisions contained in the financing documents pertaining to bonds issued by the Corporation and, notwithstanding other laws, all funds and revenues of the Corporation received by the Corporation from any source that is not required to be disposed of shall be held, administered, and invested by the Corporation as the Board shall direct, or deposited with, and invested by, an institution, trustee, fiduciary, or other custodian designated by the Corporation and disbursed as the Corporation shall direct.

(g) The Corporation shall have the power to contract with the holders of its bonds as to the custody, collection, security, investment, and payment of any monies of the Corporation and of any monies held in trust or otherwise for the payment of bonds.

Sec. 17. Revenue bonds, notes, or other obligations; loans and grants.

(a) In accordance with § 490 of the Home Rule Act, the Council authorizes the Corporation to approve, by resolution of the Board, the issuance of taxable and tax-exempt revenue bonds, including refunding revenue bonds at or before maturity, to provide assistance in financing, refinancing, and reimbursing development costs of eligible projects, and all undertakings authorized pursuant to §490 (a)(1) of the Home Rule Act, that are in furtherance of, and not inconsistent with, the purposes of this act. For those authorized purposes, the Council delegates to the Corporation its authority to issue bonds under § 490, including the powers thereunder to provide for the authorization, security, sale and issuance of such bonds consistent with this act. Notwithstanding the above, the Corporation shall submit to the Council a resolution of eligible project approval accompanied by a summary description of the proposed project and a listing of the public purpose benefits to be derived from the proposed undertaking for a 45-day period of Council review excluding days of Council recess. The Council shall approve or disapprove a proposed project by resolution within 45 days after the Corporation transmits to the Council the information set forth in this subsection. Additionally, the Council, by delegation of its authority, authorizes the Corporation, by resolution of the Board, to issue taxable and tax-exempt bonds, make loans and grants and exercise any other authority granted under the Retail Incentive Act or the provisions of any other applicable District law authorizing economic assistance to foster development or redevelopment provided that the provisions of such laws are complied with prior to the Corporation taking any action to authorize such assistance including the securing of Council approval of eligible projects, when required, pursuant to the provisions of such laws. The delegations contained within this subsection are not exclusive and do not restrict, impose or supercede that authority otherwise vested by law in any District instrumentality. All matters with respect to the bonds issued and the loans or grants made by the Corporation as provided in this section shall be governed by the applicable District law pursuant to which the Corporation is exercising its authority. A Board resolution authorizing economic assistance of the Corporation, including the issuance of bonds, shall require a majority vote of the Board.

(b) The Board may delegate to the chief executive officer, chief financial officer, or any one or more officers of the Corporation the authority to prescribe the terms and conditions of the bonds, but the Board by its resolution shall provide for the available revenues to be pledged to secure the bonds.

(c) No member of the Board, officer or employee of the Corporation shall be personally liable by reason of the issuance of bonds.

(d) A pledge by the Corporation of available revenues collected by or on behalf of the Corporation as security for an issue of bonds shall be valid and binding from the time such pledge is made. The available revenues and receipts pledged shall immediately be subject to the lien of the pledge without physical delivery or further act, and the lien of any pledge shall be valid and binding against any person having any claim of any kind in tort, contract, or otherwise against the Corporation or the District government irrespective of whether the person has notice. Notwithstanding any other law, the filing or recording of any resolution, trust, agreement, management agreement, financing statement, continuation statement, or other instrument adopted or entered into by the Corporation in any public record is not required in order to perfect the lien against third persons.

(e) The signature of any officer of the Corporation that appears on a bond, including bonds not yet issued or delivered, shall remain valid notwithstanding that person has ceased to hold that office.

(f) The Corporation may secure bonds by a trust agreement between the Corporation and a corporate trustee. A trust agreement of the Corporation may contain provisions for protecting and enforcing the rights and remedies of holders of bonds in accordance with the provisions of the resolution authorizing the sale of bonds, and any other provision which may be included in the bond authorizing resolution under this section.

(h) Subject to preexisting agreements with the holders of bonds, the Corporation may redeem or purchase its own bonds which may then be canceled or reissued.

(i) The Corporation may enter into agreements with agents, banks, insurers, or others for the purpose of enhancing the marketability of or security for its bonds.

(j) Bonds of the Corporation are legal investments in which public officers and public bodies of the District, insurance companies and associations and other persons carrying on an insurance business, banks, bankers, banking institutions, including savings and loan associations, investment companies and other persons carrying on a banking business, administrators, guardians, executors, trustees and other fiduciaries, and other persons authorized to invest in bonds or in other obligations of the District, may legally invest funds, including capital, in their control. The bonds are also securities which legally may be deposited with and received by public officers and public bodies off the District or any agency of the District for any purpose for which the deposit of bonds or other obligations of the District is authorized by law.

(k) Bonds of the Corporation shall not constitute an indebtedness of the District. The bonds of the Corporation are not general obligations of the District and are not secured by a pledge of the full faith and credit of the District and the holders of the Corporation's bonds may not require the levy or imposition by the District of any taxes or, except as provided in the applicable District law, the application of any District tax receipts, revenues or funds to the payment of those bonds. All bonds issued by the Corporation shall contain on their faces a statement setting forth the qualifications of this subsection.

(l) Bonds issued pursuant to this act, as it may be amended from time to time, shall be special obligations of the Corporation payable and secured solely from and by the sources, property, and assets provided for the purpose pursuant to this act and any related District law and to the extent provided for in the financing documents relating to the bonds.

(m) Regardlcss off their form or character, bonds off the Corporation are negotiable instruments for all purposes of Subtitle I of Title 28 of the District of Columbia Official Code, subject only to the provisions of the bonds for registration.

(n) Bonds issued by the Corporation and the interest thereon are exempt from District taxation except, estate, inheritance, and gift taxes.

(o) The Corporation may cause any resolution of the Board authorizing bonds referred to in this subsection as a bond resolution, to be filed for public inspection and may thereupon cause to be published in a newspaper of general circulation in the District a notice stating the fact and date of such bond resolution and the place where such bond resolution has been filed for public inspection and also the date of the first publication of such notice. The notice shall also state that any suit, action, or proceeding of any kind or nature in any court questioning the validity or proper authorization of bonds provided for by the bond resolution or the validity of any covenants or agreements provided for by said bond resolution or any financing document securing the bonds authorized by said bond resolution shall be commenced within 20 days after the first publication of such notice. If after the notice is published no suit, action, or proceeding is brought questioning the validity or proper authorization of bonds provided for by the bond resolution referred to in said notice, or the validity of any covenants or agreements provided for by said bond resolution or any financing documents securing the bonds authorized by said notice, then all persons shall be forever barred and foreclosed from instituting or commencing any proceeding questioning the validity or proper authorization of such bonds, or the validity of any such covenants and agreements, and the Corporation shall be conclusively deemed to have been authorized to exercise the powers delegated to the Corporation under this act, and said bonds, covenants, and agreements shall be conclusively deemed to be valid and binding obligations of the Corporation as provided in this act.

Sec. 18. Subsidiaries.

(a) The Corporation may establish one or more for-profit or not-for-profit corporate 6 subsidiaries for, or in connection with, providing any one or more types of assistance authorized 7 by this act, including, without limitation, the administration of capital development, programs, and other activities. No subsidiary of the Corporation may have any power that the Corporation does not have. Any contemplated provision of assistance to any person by a subsidiary of the Corporation shall require the approval of the Board.

(b) In respect of establishing subsidiaries, their operations, and applications of their income or the Corporation's income from them, the Corporation shall have regard for avoiding the disqualification of the Corporation as an organization exempt under §501 of the Code, or as an issuer of bonds the interest on which is intended to be excluded from gross income under §103 of the Code in respect of the basic activities of the Corporation.

Sec. 19. Eminent domain.

(a) The Corporation may acquire and assemble land, real property, easements, and other interests in real property through condemnation of property by eminent domain in furtherance of the public purposes of this act, in accordance with the provisions of subchapter 11 of Chapter 13 of Title 16 of the District of Columbia Official Code. Any exercise of eminent domain powers by the Corporation shall require the affirmative vote of at least a majority of the authorized number of Board members. The condemnation proceedings shall be brought in the name of the Corporation, and title to the properties shall he taken in the name of the Corporation. The Corporation may not delegate the power of eminent domain to any subsidiary. Any property acquired through eminent domain under this section must be acquired in connection with an eligible project.

(b) Before condemnation proceedings may be brought by the Corporation, any exercise of eminent domain powers that is approved by an affirmative vote of the Corporation shall be submitted to the Council for a 30-day period of review excluding days of Council recess. The Council shall approve or disapprove the exercise of eminent domain powers by the Corporation by resolution within 30 days of the date it is transmitted to the Council. If the Council does not approve or disapprove of the proposed exercise of eminent domain powers, in whole or in part, by resolution within the 30-day period, the proposed resolution shall be deemed approved.

Sec. 20. No taxing power.

Notwithstanding any other provision of this act, the Corporation shall not have any power to impose, assess and levy any taxes.

Sec. 21. Intragovernmental cooperation.

(a) To the extent practicable and as pertaining to the economic development of the District, the Corporation shall work cooperatively with the development of annual workplans and budgets for the following:

(1) National Capital Revitalization Corporation;

(2) Small Business Administration;

(3) Washington Convention and Visitors Association;

(4) District of Columbia Chamber of Commerce;

(5) D.C. Committee to Promote Washington;

(6) Greater Washington lbero American Chamber of Commerce;

(7) Board of Trade committees;

(8) Metropolitan Washington Council of Governments;

(9) National Capital Planning Commission;

(10) Office of Motion Pictures and Television Development;

(11) Community Development Corporations;

(12) Business Improvement Districts;

(13) Department of Housing and Community Development; and

(14) The District agency, department, office or instrumentality responsible for real property assets management and disposition.

(b) The Mayor, the departments, commissions, agencies and offices of the District government, and the hoards of independent District agencies, commissions, establishments, and instrumentalities shall give expedited consideration to applications for licenses, permits, financing and other approvals of eligible projects for which the Corporation acts primarily responsible or to which the Corporation has provided or proposes to provide assistance. Approvals of such licenses, permits, financing, and other applications shall not be denied, withheld or delayed unreasonably. If, in the judgment of the Corporation, such approvals are unreasonably denied, withheld, or delayed, the Corporation, by vote of the Board, may cause the issuance to the Mayor or the Council of a request that such agency, commission, establishment, or instrumentality be compelled to demonstrate good cause for such delay, withholding, or denial, and if good cause not be shown, to act expeditiously with respect thereto g   or as directed by the Mayor or Council.

Sec. 22. Annual report.

Not later than 180 days after the end of each fiscal year of the Corporation, the Corporation shall submit a report regarding its activities during the prior fiscal year to the Mayor, the CFO and the Council. The annual report shall include financial statements audited by an independent auditor.

Sec. 23. Dissolution; termination of affairs.

(a)   Upon dissolution of the Corporation or any subsidiary of the Corporation, title to property filed in the name of the Corporation and its subsidiaries, and all property under the control of the Board shall vest in the District. No property assets or earnings of the Corporation shall at any time inure to any private person or entity.

(b) The Corporation may be dissolved by vote of a majority of the Board and approval by act of the Council provided that all bonds of the Corporation have been discharged or their discharge has been provided for fully, and adequate provision has been made for all other debts and obligations of the Corporation.

Sec. 24. Liberal construction.

This act shall be liberally constructed to affect the purposes stated herein. 

Sec. 25. District Pledges.

The District pledges to the holders of outstanding bonds issued by the Corporation that the District will not limit or alter the rights in the Corporation to fulfill agreements made with holders of the bonds until the bonds, together with the interest thereon, with interest on any unpaid installments of interest, and all costs and expenses in connection with any action or proceeding by or on behalf of the holders of the bonds are fully met and discharged or fully provided for. The Corporation is authorized to include this pledge of the District in any agreement with the holders of the bonds.

Sec. 26. 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 December 24, 1973 (87 Stat. 813; D.C. Official Code § 1-206.02(c)(3)). 

Sec 27. Effective date.

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), 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. Official Code §1-206.02(c)(1)), and publication in the District of Columbia Register

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