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Square 37 Excess Property Disposition Emergency Approval Resolution of 2007
PR 17-393

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Chairman Vincent C. Gray at the request of the Mayor

A PROPOSED RESOLUTION IN THE COUNCIL OF THE DISTRICT OF COLUMBIA

To approve, on an emergency basis, the disposition of real property situated in Squares 37 and 50, less and except certain air rights parcels reserved for the construction and operation of a new public library and fire station, to Eastbanc, Inc., or an affiliate or assignee of such company approved by the Mayor.

RESOLVED, BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, That this resolution may be cited as the "Square 37 Excess Property Disposition Emergency Approval Resolution of 2007".

Sec. 2. (a)(1) Pursuant to section 1(b)(6) of An Act Authorizing the sale of certain real property in the District of Columbia no longer required for public purposes, approved August 5, 1939 (53 Stat. 1211; D.C. Official Code §10-801(b)(6)), the Mayor transmitted to the Council a request for approval of the proposed disposition of all of that certain real property identified for assessment and taxation purposes as lots 836 and 837 in Square 37 and lot 822 in Square 50, less and except certain air rights parcels reserved for the construction and operation of a new public library and fire station (such lots less and except said reservation being the "Property"). The Property is intended to be disposed of to Eastbanc, Inc., or an affiliate or assignee of such company approved by the Mayor ("Purchaser"). The Property is further intended to be developed by Purchaser, in combination with adjoining and other parcels in proximity to the Property, in a mixed-use residential and commercial development (the "Project"). The disposition shall be subject to the following terms and conditions, in addition to such other terms and conditions as the Mayor deems necessary and appropriate:

(A) Purchaser shall pay consideration equal to fair market value less the amounts stated in subparagraph (B) of this paragraph ("Purchase Price") for the Property conveyed, as determined in accordance with an appraisal process that values the Property for purposes of determining highest and best use and as otherwise acceptable to the Mayor.

(B) The Purchase Price shall be calculated by making the following deductions from the appraised value:

(i) Subject to authorizing appropriations, a fixed cost for constructing a new library to replace the existing West End Library in accordance with plans and specifications approved by the Board of Library Trustees;

(ii) Subject to authorizing appropriations, a fixed cost for constructing a replacement fire station in accordance with plans and specifications approved by the Chief of Fire and Emergency Services; and

(iii) The value of the public benefits provided by Purchaser through development of Affordable Units and Work Force Housing Units, provided that in the event the public benefits deduction would result in a negative Purchase Price, the numbers of residential units required to be developed by Purchaser as Affordable Units or Work Force Housing Units shall be reduced or the required AMI income levels for such units shall be adjusted as necessary to ensure a positive Purchase Price.

(C) The District shall reserve to itself:

(i) Air rights as necessary for the construction and maintenance of a new library to replace the existing West End Library in accordance with plans and specifications approved by the Board of Library Trustees; and

(ii) Air rights as necessary for the construction and maintenance of a replacement fire station in accordance with plans and specifications approved by the Chief of Fire and Emergency Services.

(D) The District shall reserve such easements, covenants and other rights in the Property as are necessary and convenient for the operation of the new library and new fire station and shall grant such easements, covenants and other rights in, to or over the air rights which the District has reserved as are necessary and convenient for the support and operation of the Project. The District shall be granted easements, covenants and other rights in, to or over the Project as are necessary and convenient for the operation of the new library and new fire station, such rights to be on terms and conditions to be negotiated by the Mayor.

(E) Subject to statutory authorization, Purchaser shall construct the new library and fire station in accordance with plans and specifications approved by the Board of Library Trustees or Chief of Fire and Emergency Services, as applicable, on terms and conditions to be negotiated by the Mayor.

(F) Purchaser shall prepare a planned unit development ("PUD") application to implement the Project, which shall include the locations of the library, fire station and affordable and workforce housing uses as negotiated by the Mayor, and Purchaser shall develop the Project in accordance with said PUD application as filed and approved by the D.C. Zoning Commission.

(G) Purchaser shall deliver a completion guaranty for its construction obligations, the terms and conditions of which shall be negotiated by the Mayor.

(H) All predevelopment costs shall be Purchaser’s responsibility and cost, including, but not limited to, environmental reviews, assessments, or impact statements, transit and traffic related studies, security analysis, engineering analysis, and technical feasibility studies as may be required to obtain any necessary local or federal approval for the disposition, development or construction of the Property.

(I) Purchaser and any developer or developers of the Project selected by Purchaser shall execute a CBE Agreement acceptable to the Mayor and as required by law. The CBE Agreement shall, require Purchaser and/or any developer or developers of the Property selected by Purchaser to contract with and procure from Certified Business Enterprises (each, a "CBE") for at least 35% of the contract dollar volume of the Project; and require at least 20% equity and development participation of local, small and disadvantaged business enterprises. The equity and/or development participants shall include, but not be limited to, CS Partners, The Jarvis Company, Spectrum Management, and RJB Consulting Group Inc., or such affiliated special purpose entities created by the aforementioned equity and/or development participants, unless otherwise approved by the Mayor. Purchaser and any developer or developers of the Property selected by Purchaser shall establish a Quick Pay Program for all CBE contractors on this project. Quick Pay Program shall mean the following: (1) the Purchaser or developer shall hold a meeting with the CBE within 10 calendar days after receiving an invoice from the CBE to discuss any disputed items and to agree on a final invoice; (2) within 30 days after the meeting, the CBE participant shall be paid the full amount of the undisputed portion of the invoice; and (3) if the Purchaser or developer does not pay the undisputed portion of the invoice within the 30-day period, the unpaid, undisputed portion shall be subject to a late fee of 1% per month, calculated on a daily basis, for every day over said 30-day period that the CBE participant is not paid the unpaid, undisputed amount. Changes to the requirements set forth in this paragraph (I) may be made if agreed upon by the Mayor.

(J) Purchaser and/or any developer or developers of the Property selected by Purchaser shall execute a First Source Agreement acceptable to the Mayor.

(K) Purchaser shall cause to be developed on the Property Affordable Units, and Work Force Housing Units that together shall comprise not less than 30% of all residential units constructed on the Property, to be made available exclusively to Qualified Purchasers; provided, that in the event the public benefits deduction would result in a negative Purchase Price, the numbers of residential units required to be developed by Purchaser as Affordable Units or Work Force Housing Units shall be reduced or the required AMI income levels for such units shall be adjusted as necessary to ensure a positive Purchase Price.

(2) For the purposes of this subsection, the term:

(A) "Affordable Unit" means a unit to be made available to a household the income of which is equal to, or less than, the maximum area median income ("AMI"), with AMI being the periodic AMI calculation provided by the United States Department of Housing and Urban Development ("HUD") as a direct calculation without taking into account any adjustments made by HUD for the program it administers, or as otherwise consistent with regulations enacted pursuant to the Inclusionary Zoning Implementation Act of 2006, effective March 14, 2007 (D.C. Law 16-275; D.C. Official Code § 6-1041 et seq.).

(B) "CBE Agreement" means an agreement with the District governing certain obligations of Purchaser and any developer of the Property under the Small, Local, and Disadvantaged Business Enterprise Development and Assistance Act of 2005, as amended (D.C. Law 16-33; D.C. Official Code § 2-218.01 et seq.)("CBE Act"), including, but not limited to, the equity and development participation requirements set forth in § 2-218.49a of the CBE Act. "Certified Business Enterprise" means a business enterprise or joint venture certified pursuant to the Small, Local and Disadvantaged Business Enterprise Development and Assistance Act of 2005, as amended (D.C. Law 16-33; D.C. Official Code § 2-218.01 et seq.).

(C) "First Source Agreement" means an agreement with the District governing certain obligations of Purchaser and any developer of the Property pursuant to section 4 of the First Source Employment Agreement Act of 1984, effective June 29, 1984 (D.C. Law 5-93; D.C. Official Code § 2-219.03), and Mayor’s Order 83-265 (November 9, 1983) regarding job creation and employment generated as a result of the construction on the Property.

(D) "Work Force Housing Unit" means a unit to be made available to a household the income of which is equal to, or less than maximum AMI pursuant to law or regulation promulgated by the District, or otherwise as determined by the Mayor.

(E) "Qualified Purchaser" means a household consisting of one or more individuals that purchases or rents an Affordable Unit or Work Force Housing Unit as a primary residence, meets the income requirements of an Affordable Unit or Work Force Housing Unit, as such income requirements are determined by the Mayor and certifies that he, she, or they intend(s) to use such unit as his, her, or their primary residence.

(b) The Council finds that the Mayor’s analysis of economic and other policy factors supporting the disposition of the Property justifies the conveyance proposed by the Mayor.

(d) The Council, finding that the Property is no longer required for public purposes, approves the proposed disposition of the Property pursuant to the terms of this resolution.

Sec. 3. Council approval of land disposition agreement resolution.

The Mayor will submit to Council a Resolution (the "LDA Resolution") with a copy of the land disposition agreement negotiated based on the terms set forth in this Resolution authorizing the disposition of the Property. If the Council does not approve or disapprove of the proposed LDA Resolution within 45 days from the date of its submission, the proposed resolution shall be deemed approved.

Sec. 4. Fiscal impact statement.

The Council adopts the attached fiscal impact statement 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. 5. The Secretary to the Council shall transmit a copy of this resolution, upon its adoption, to the Mayor.

Sec. 6. This resolution shall take effect immediately.

Square 37 Excess Property Disposition Emergency Approval Resolution of 2007 PR 17-393

Square 37 Excess Property Disposition Emergency Approval Resolution of 2007
PR 17-393