Section 10-B6104. RATING SYSTEM FOR RANKING RETAIL DEVELOPMENT PROJECTS FOR DOWNTOWN RETAIL PRIORITY AREA

 

6104.1The Application will be scored in conformance with the Rating System as provided in Appendix 2. The Rating System is based on the following objective criteria:

 

(a)Likelihood of Bond repayment based on projected Tax Increment Revenues from the Retail Development Project;

 

(b)Uniqueness of the retailer(s) (i.e. type of product, anticipated demand, likelihood of success based on market or feasibility study, experience and public recognition of "brand name" or product(s)) that will be in the Retail Redevelopment Project;

 

(c)The market position of each retailer and whether each retailer is first in its market to locate in the Downtown Retail Priority Area;

 

(d)Likelihood that each retailer will attract other retailers to locate nearby (i.e. confidence of other retailers in success and stability of the retailer(s), "draw" factor of the retailer(s), hours and days of operation);

 

(e)Extent to which each retailer will promote the Downtown Retail Priority Area in its advertising (each retailer to submit a marketing plan for first two years of operation, including prototype of marketing materials (print and radio/TV), types of window displays, etc.);

 

(f)Vertical integration of retailer(s) (the portion of the product mix that is sold under the retailer's brand);

 

(g)Intention of each retailer in a given Retail Development Project to locate on more than one level of the building in which it is located;

 

(h)Extent to which each retailer's storefront is expressive (quality of architecture, "draw" of signage and display windows, extent to which store appearance enhances and upgrades the area);

 

(i)The location of the ownership of the retailer, i.e. whether the retailer is a District-owned business;

 

(j)Square footage of retail space; and

 

(k)Whether the retailer(s) in the Downtown Retail Priority Area is one of multiple retailers that co-locate in the Downtown Retail Priority Area (i.e. is retailer part of a group of retailers that is willing to locate in the Downtown Retail Priority Area).

 

6104.2The Downtown Retail Committee may revise the Rating System at any time and from time to time by a two-thirds vote, but may not revise the Rating System for any Application that has been submitted to DMPED.

 

source

Final Rulemaking published at 51 DCR 9326 (October 1, 2004); as amended by Final Rulemaking published at 53 DCR 825 (February 10, 2006).