5336957 Resolution 20-773, 125 O Street, S.E. and 1402 1st Street, S.E. Property Disposition Emergency Approval Resolution of 2014

A RESOLUTION

                                                        

20-773

 

IN THE COUNCIL OF THE DISTRICT OF COLUMBIA

 

December 17, 2014         

 

 

To approve, on an emergency basis, the disposition of District-owned real property, located at 125 O Street, S.E. and 1402 1st Street, S.E., and known for tax and assessment purposes as a portion of Lot 805 in Square 744S and a portion of Lot 801 in Square 744SS. 

 

 

            RESOLVED, BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, That this resolution may be cited as the “125 O Street, S.E. and 1402 1st Street, S.E. Property Disposition Emergency Approval Resolution of 2014”.

 

Sec. 2.  Definitions.

For the purposes of this resolution, the term:

            (1)  “CBE Agreement” means an agreement governing certain obligations of the Transferee under the Small, Local, and Disadvantaged Business Enterprise Development and Assistance Act of 2005, effective October 20, 2005 (D.C. Law 16-33; D.C. Official Code § 2-218.01 et seq.) (“CBE Act”), including the equity and development participation requirements set forth in section 2349a of the CBE Act (D.C. Official Code § 2-218.49a). 

            (2)  “Certified Business Enterprise” means a business enterprise or joint venture certified pursuant to the CBE Act.

            (3)  “First Source Agreement” means an agreement with the District governing certain obligations of the Transferee 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, dated November 9, 1983, regarding job creation and employment generated as a result of the construction on the Property.

            (4)  “Property” means the real property located at 125 O Street, S.E. and 1402 1st Street, S.E., known for tax and assessment purposes as a portion of Lot 805 is Square 744S and a portion of Lot 801 in Square 744SS. 

                        (5)  “Transferee” means the Forest City Washington, Inc., a District of Columbia corporation located at 301 Water Street, S.E., Suite 201, Washington D.C. 20003, its successor, or one of its affiliates or assignees approved by the Mayor.

 

Sec. 3. Findings.

(a)  The Property is located at 125 O Street, S.E. and 1402 1st Street, S.E., and consists of approximately 235,130 square feet of land. The Property is currently improved with several low-scale structures and surface parking that are used by DC Water for light industry uses in connection with their fleet services and sewer services operations.

(b)  The intended use of the Property (the “Project”) is a mixed-use residential and retail development with parking and any ancillary uses allowed under applicable law.

(c)  The Project will also contain affordable housing as described in the term sheet submitted with this resolution.

(d)  The Transferee will enter into an agreement that shall require the Transferee to, at a minimum, contract with Certified Business Enterprises for at least 35% of the contract dollar volume of the Project, and shall require at least 20% equity and 20% development participation of Certified Business Enterprises.

(e)  The Transferee will enter into a First Source Agreement with the District that shall govern certain obligations of the Transferee 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, dated November 9, 1983, regarding job creation and employment as a result of the construction on the Property.

(f)  Pursuant to An Act Authorizing the sale of certain real estate in the District of Columbia no longer required for public purposes, approved August 5, 1939 (53 Stat. 1211; D.C. Official Code § 10-801 et seq.) (“Act”), the proposed method of disposition is (i) a public or private sale to the bidder providing the most benefit to the District under section 1(b)(8)(F) of the Act for a portion of the Property and (ii) a lease for a period of greater than 20 years under section 1(b)(8)(C) of the Act for a portion of the Property.

(g)  All documents that are submitted with this resolution pursuant to section 1(b-1) of the Act shall be consistent with the executed Memorandum of Understanding or term sheet transmitted to the Council pursuant to section 1(b-1)(2) of the Act.

 

Sec. 4. Approval of disposition.

(a)  Pursuant to section 1(b)(8)(C) and section 1(b)(8)(F) of the Act, the Mayor transmitted to the Council a request for approval of the disposition of the Property to the Transferee.              

(b)  The Council approves the disposition of the Property.

 

Sec. 5. Transmittal.

The Council shall transmit a copy of this resolution, upon its adoption, to the Mayor.

 

Sec. 6. Fiscal impact statement.

The Council adopts the fiscal impact statement of the Chief Financial Officer 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. 7. Effective date.

This resolution shall take effect immediately.