4409637 Resolution 20-151, “Justice Park Property Term Sheet Amendment Emergency Approval Resolution of 2013”

 

A RESOLUTION

 

20-151

 

IN THE COUNCIL OF THE DISTRICT OF COLUMBIA

 

June 4, 2013

 

           

To approve, on an emergency basis, an amendment to the term sheet for District-owned real property located at 1421 Euclid Street, N.W., known for tax and assessment purposes as Lot 0811 in Square 2665.

 

            BE IT ENACTED BY THE COUNCIL OF THE DISTRICT OF COLUMBIA, That this resolution may be cited as the “Justice Park Property Term Sheet Amendment Emergency Approval Resolution of 2013”.

 

Sec. 2. (a) The Council approved the Justice Park Disposition Approval Resolution of 2011, effective April 5, 2011 (Res. 19-77; 58 DCR 3199), 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”), which was accompanied by a term sheet dated November 10, 2010 that was executed by the Deputy Mayor for Planning and Economic Development and the proposed developer.  The term sheet outlined certain terms and conditions of the disposition of real property located at 1421 Euclid Street, N.W, as required by section 1(b-1)(2) of the Act.

            (b)  Pursuant to section 1(b-1)(6) of the Act, the Mayor has submitted an amended term sheet along with this resolution, in redline form, that reflects a change in the scale of the project and a few revisions to the term sheet requested by the developer to facilitate the financing and development of the property.

            (c)  The Council hereby approves the amended term sheet submitted with this resolution and authorizes the disposition of real property located at 1421 Euclid Street, N.W., in accordance with the terms and conditions set forth therein.

 

Sec. 3. Transmittal.

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

 

 

 

Sec. 4. 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. 5. Effective date.

This resolution shall take effect immediately.