Bill > B26-0277

This bill provides targeted support for the Parkside mixed-use economic development project in Washington, D.C. by creating two primary exemptions and tax benefits. First, the bill exempts specific lots (865, 866, 867, 868, and 869 in Square 5056) from heritage tree protection requirements if a first-stage planned unit development was approved before July 1, 2016, which will facilitate easier development of the site. Second, the bill authorizes significant property tax abatements for these lots, offering up to $300,000 per lot annually for 30 years, contingent upon obtaining a final certificate of occupancy by September 30, 2029. Additionally, the bill provides that any fees or deposits paid for developing these lots will be refunded, and any prospective fees will be forgiven. These tax benefits and exemptions are designed to be supplemental to any other existing tax relief or assistance programs, effectively creating a supportive financial environment for the Parkside development project. The bill specifically defines Parcel 9A as Lots 865, 866, and 867, and Parcel 9B as Lots 868 and 869, both located in Square 5056.

Transportation and Infrastructure

https://lims.dccouncil.gov/Legislation/B26-0277