Title 42 — Real Property.

For the purposes of this chapter, the term: (1)(A) “Area median income” means: (i) For a household of 4 persons, the area median income for a household of 4 persons in the Washington Metropolitan Statistical Area as set forth in the periodic calculation provided by the United Sta…

(a) There is established the Housing Production Trust Fund as a permanent revolving special revenue fund within the Governmental Funds of the District apart from the General Fund consisting of identifiable, renewable, and segregated capital, which shall be administered by the Dep…

(a) There is hereby established a Housing Production Trust Fund Board. The Board shall advise the Mayor on the development, financing, and operation of the Fund and other matters related to the production of housing for low-income, very low-income, and extremely low-income househ…

(a) A rental unit constructed pursuant to this chapter shall remain affordable for a period of 40 years or a longer period selected by the developer. (b)(1) Except as provided in subsection (c) of this section, a for-sale unit constructed pursuant to this chapter shall remain aff…

(a) The Department shall establish a one-stop center to: (1) Assist nonprofit housing developers; (2) Assist housing developers and commercial developers in housing production for targeted populations; and (3) Provide to potential housing developers easy and adequate access to in…

No later than April 1 of each fiscal year, the Mayor shall transmit to the Council a Housing Production Trust Fund Annual Report. The report shall include the following information: (1) The amount of money expended from the Housing Production Trust Fund during the fiscal year; (2…

Rules to implement this chapter shall be promulgated by the Mayor pursuant to subchapter I of Chapter 5 of Title 2, and submitted to the Council within 90 days after March 16, 1989 for a 45-day review period, excluding Saturdays, Sundays, legal holidays, and days of Council reces…

For the purpose of this subchapter, the term: (1) “Allocated Fund” means the portion of the Fund established pursuant to § 42-2802 that equals the amount that is deposited in the Fund from the real property transfer tax imposed by § 47-903 and the deed recordation tax imposed by …

The Council finds that: (1) Section 1-204.90 provides that the Council may, by resolution, authorize the issuance of District revenue bonds, notes, or other obligations (including refunding bonds, notes, or other obligations) to borrow money to finance, refinance, or reimburse an…

(a) Pursuant to § 1-204.90 and this subchapter, the Mayor is authorized to issue bonds to assist in financing, refinancing, or reimbursing costs of undertakings by the District to accomplish the purposes of the New Communities Initiative. Subject to Council approval by resolution…

(a) The Mayor is authorized to take any action reasonably necessary or appropriate in accordance with this subchapter in connection with the preparation, execution, issuance, sale, delivery, security for, and payment of the bonds of each series, including, but not limited to, det…

(a) The bonds of any series may be sold at negotiated or competitive sale at, above, or below par, to one or more persons or entities, and upon terms that the Mayor considers to be in the best interests of the District. (b) The Mayor or an Authorized Delegate may execute, in conn…

(a) Except as otherwise provided in § 42-2812.03(b), the principal of, premium, if any, and interest on, the bonds shall be payable solely from proceeds received from the sale of the bonds, income realized from the temporary investment of those proceeds, receipts and revenues rea…

(a) The Mayor is authorized to prescribe the final form and content of all Financing Documents and all Closing Documents to which the District is a party that may be necessary or appropriate to issue, sell, and deliver the bonds. Each of the Financing Documents and each of the Cl…

To the extent permitted by District and federal laws, the Mayor may delegate to any Authorized Delegate the performance of any function authorized to be performed by the Mayor under this subchapter.

(a) The bonds shall be special obligations of the District. The bonds shall be without recourse to the District. The bonds shall not be general obligations of the District, shall not be a pledge of or involve the faith and credit or the taxing power of the District (other than re…

(a) Except as otherwise provided in § 42-2812.09(e), the elected or appointed officials, officers, employees, or agents of the District shall not be liable personally for the payment of the bonds or be subject to any personal liability by reason of the issuance of the bonds, or f…

Copies of the specimen bonds and of the final Financing Documents and Closing Documents shall be filed in the Office of the Secretary of the District of Columbia.

Within 3 days after the Mayor’s receipt of the transcript of proceedings relating to the issuance of the bonds, the Mayor shall transmit a copy of the transcript to the Secretary to the Council.