D.C. Code § 2-1217.37c: Creation of the Bryant Street TIF Area.

(a)

(b)

As provided under § 2-1217.37b, the Available Tax Increment from the Bryant Street TIF Area shall be deposited in the Bryant Street TIF Fund and may be used for the purposes set forth in § 2-1217.37b.

(c)

(1)

The base year for determination of Available Sales Tax Revenues from locations within the Bryant Street TIF Area shall be the tax year preceding the year in which this subpart becomes effective.

(2)

The base year for determination of Available Real Property Tax Revenues shall be the tax year of the District preceding the year in which act becomes effective and the initial assessed value to be used in making the determination of Available Real Property Tax Revenues shall be the assessed value of each lot of taxable real property in the Bryant Street TIF Area for the preceding tax year in which this subpart becomes effective.

(d)

The Bryant Street TIF Area shall terminate on the earlier of:

(1)

December 31, 2043;

(2)

The date on which the Bonds are paid in full or are defeased and are no longer outstanding; or

(3)

March 1, 2020, if no Bonds are issued.