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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) The District's contribution to the Stadium budget and the expenditure of funds for the construction of the Stadium shall not exceed $500 million.
(b) The contribution from the District and its instrumentalities to the purchase of the parking garages and the expenditure of funds for the purchase of the parking garages shall not exceed $175 million from the District and $181 million from EventsDC.
(c) The District's contribution to Stadium maintenance, repairs, and capital expenses shall be limited to the amount of funds available in the Stadium Maintenance Fund.
(d) The District shall not provide additional tax abatements, tax exemptions, or subsidies for development of the remainder of the Development Site; provided, that the foregoing prohibition shall not be deemed to restrict the utilization of tax-exempt bond financing, federal low-income housing tax credits, or housing vouchers for the Development Site.
Cite this article: FindLaw.com - District of Columbia Code Division I. Government of District. § 10-1605. Cap on District obligations. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-i-government-of-district/dc-code-sect-10-1605-06/
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