Learn About the Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 01, 2024 | Updated by FindLaw Staff
(a) For the purposes of this section, the term:
(1) ‘Development Sponsor‘ means Portals Hotel Site, LLC, a Delaware limited liability company, and its successors and assigns.
(2) ‘Mandarin Oriental Hotel Project‘ means the acquisition and initial development, construction, equipping, and furnishing of a Mandarin Oriental hotel within the Portals project, located on Square 299, Lot 831, consisting of a 400-room hotel with approximately 33,000 square feet of associated meeting and banquet space, 2 restaurants, a health spa and fitness center totaling approximately 10,000 square feet, and approximately 90,000 square feet of public parking space for approximately 200 cars.
(3) ‘Mandarin TIF Bonds‘ means the tax increment financing bonds issued in connection with the Mandarin Oriental Hotel Project pursuant to the Tax Increment Revenue Bonds Mandarin Hotel Project Emergency Approval Resolution of 2000, effective March 7, 2000 (Res. 13-510; 47 DCR 2133), and the Mandarin Hotel Project Modification Approval Resolution of 2000, effective December 19, 2000 (Res. 13-745; 48 DCR 83).
(b) All fees to be paid, and any deposits to be made, by or on behalf of the Development Sponsor in connection with the initial development, construction, equipping, and furnishing of the Mandarin Oriental Hotel Project under § 6-661.01, are hereby deferred until the Development Sponsor sells the Mandarin Oriental Hotel Project, as evidenced by the recordation of a deed conveying title to Square 299, Lot 831, at which time such amounts shall be due and payable without penalty or interest.
(c) The amount of all taxes, fees, and deposits deferred under subsection (b) of this section, §§ 42-1102(25), 47-902(19), 47-1002(27), and 47-2005(33), shall not exceed, in the aggregate, $4 million.
(d) This section shall apply upon the closing of the sale of the Mandarin TIF Bonds.
Cite this article: FindLaw.com - District of Columbia Code Division I. Government of District. § 2-1217.32. Mandarin Oriental Hotel Project fee deferral. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-i-government-of-district/dc-code-sect-2-1217-32/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)