(a) There is established as a special fund the Walter Reed Redevelopment Fund ("Fund"), which shall be administered by the Office of the Deputy Mayor for Planning and Economic Development and used solely for the purposes set forth in subsection (c) of this section.
(b) The Chief Financial Officer shall deposit into the Fund all funds received pursuant to § 47-1005.01 attributable to the Developer’s lease of the Walter Reed Redevelopment Site for the period ending on the last day of the tax year that is 10 years after the date on which the Developer commences the demolition of Building 2 on the Walter Reed Redevelopment Site in accordance with the requirements of the LDA.
(c) The Fund shall be used solely to support the maintenance, operation, and construction activities on the Walter Reed Redevelopment Site.
(d) Notwithstanding § 1-328.13, the Office of the Deputy Mayor for Planning and Economic Development shall have the authority to make grants from the Fund for the purposes set forth in subsection (c) of this section.
(e)(1) The money deposited into the Fund, and interest earned, shall not revert to the unrestricted fund balance of the General Fund of the District of Columbia at the end of a fiscal year, or at any other time.
(2) Subject to authorization in an approved budget and financial plan, any funds appropriated in the Fund shall be continually available without regard to fiscal year limitation.
(May 18, 2016, D.C. Law 21-119, § 7, 63 DCR 4678; Oct. 8, 2016, D.C. Law 21-160, § 2032, 63 DCR 10775; Oct. 30, 2018, D.C. Law 22-168, § 2032, 65 DCR 9388.)
Emergency LegislationFor temporary (90 days) amendment of this section, see § 2032 of Fiscal Year 2019 Budget Support Congressional Review Emergency Act of 2018 (D.C. Act 22-458, Oct. 3, 2018, 65 DCR 11212).
For temporary (90 days) amendment of this section, see § 2032 of Fiscal Year 2019 Budget Support Emergency Act of 2018 (D.C. Act 22-434, July 30, 2018, 65 DCR 8200).