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District of Columbia Code Division I. Government of District. § 2-1225.11. Transfer of NCRC assets and liabilities.

Current as of January 01, 2024 | Updated by FindLaw Staff

(a) On October 1, 2007:

(1) Legal and equitable title to all real property, personal property, capital, and intangible assets of the NCRC, the RLARC, the EDFC, and any of their subsidiaries, shall transfer, vest, and be titled, in the name of the District, and the Mayor may exercise any disposition authority related to the property that was previously approved by the Council.

(2) All property, records, and unexpended balances of appropriations, allocations, income, and other funds available to the NCRC, the RLARC, the EDFC, and any of their subsidiaries, shall transfer to the District.

(3) The unexpended balances of appropriations, allocations, income, and other funds available to the NCRC, the RLARC, the EDFC, and any of their subsidiaries, shall transfer to the Economic Development Special Account pursuant to § 2-1225.21 [repealed] or to the capital accounts pursuant to § 2-1225.22.

(4) All lawful existing contractual rights and obligations, except employment contracts, of the NCRC, the RLARC, the EDFC, and any of their subsidiaries, shall transfer to the District, which shall assume all rights, duties, liabilities, and obligations as a successor in interest.

(5) All other existing rights and obligations, including all lawful contractual rights and obligations, and all causes of actions of the NCRC, the RLARC, the EDFC, and any of their subsidiaries, shall transfer to the District.

(b) Any existing contracts transferred to the District under this section or § 2-1225.02(a) shall not be subject to Unit A of Chapter 3 of this title.

(b-1) Any contract between the Deputy Mayor for Planning and Economic Development and a developer for the development of Square 3128 related to Zoning Commission Order No. Z.C. 13-14, or amendment to that order, shall not be subject to subchapters IV, V, VI, and §§ 2-357.02 and 2-361.01 of Chapter 3A of this title.

(c) All real property and other assets transferred pursuant to this section or § 2-1225.02 that are subject to a Community Development Block Grant (“CDBG”) subrecipient agreement with the Department of Housing and Community Development shall continue to be subject to the applicable subrecipient agreement and CDBG regulations.

(d) No existing lawful contract or other lawful legal obligation of the NCRC, the RLARC, the EDFC, and their subsidiaries transferred pursuant to subsection (a) of this section or pursuant to § 2-1225.02 shall be abrogated or impaired by the repeal of subchapter X of this chapter.

(e) Nothing in this section or § 2-1225.02 shall impair the obligations, commitments, pledges, covenants, or the security made or provided by the NCRC, the RLARC, the EDFC, or any or their subsidiaries, the Chief Financial Officer, or the Department of Housing and Community Development.

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Cite this article: FindLaw.com - District of Columbia Code Division I. Government of District. § 2-1225.11. Transfer of NCRC assets and liabilities. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-i-government-of-district/dc-code-sect-2-1225-11/

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