Local hiring, equity, and subcontracting requirements

(a) §§ 2-219.01, 2-219.03(a), (b), (c), (e)(1), (1C), (2), (3), (4), and (5), and 2-219.03a, shall apply to the construction obligations of the Stadium Project and the Commercial Development (collectively "the Project"); provided, that good faith efforts will be required to ensure that 51% of all new hires for the Project are District residents; provided further, that residents of Wards 7 and 8 receive a hiring preference for at least 20% of the new jobs created in connection with the Project. (b) § 32-1431 shall apply to the construction obligations of the Project; except, that 10%, with a goal of 35%, of all apprenticeship hours performed pursuant to apprenticeship programs required by § 32-1431(a) shall be performed by District residents and the Department of Employment Services may only impose fines for a failure to achieve the 10% requirement. (c) Subchapter IX-A of Chapter 2 of Title 2 shall apply to the construction obligations of the Project, including professional services rendered in furtherance of the Project; except, that: (1)(A) The equity and development participation requirements of § 2-218.49a, shall not apply to the Stadium Project; and (B) The Developer shall require at least 20% equity, excluding debt financing, mezzanine financing, or other equity contributions by limited or institutional investors, and 20% development participation from certified business enterprises in the Commercial Development. (2) Forty percent, with a goal of 50%, of the adjusted development budget, as defined in the CBE Agreement referenced in § 10-1605.05(a), shall be subcontracted to small business enterprises, with a preference for at least 10% of the small business enterprises to be located in, by order of priority, Wards 7, 8, 5, and 6; or, if there are insufficient qualified small business enterprises to completely fulfill the 40% requirement or the 50% goal, then the subcontracting requirement or goal may be satisfied by subcontracting the 40% requirement or 50% goal of the adjusted development budget to any qualified certified business enterprises, with a preference for at least 10% of the certified business enterprises located in, by order of priority, Wards 7, 8, 5, and 6; provided, that all reasonable efforts shall be made to ensure that qualified small business enterprises are significant participants in the overall subcontracting work.