D.C. Code § 2-1227.06: Walter Reed Redevelopment Fund.

(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)

Any money remaining available in the Fund at the end of a fiscal year, as determined by the Chief Financial Officer in the fiscal year-end close, shall be transferred to the unassigned fund balance of the General Fund of the District of Columbia as part of the fiscal year-end close.