§ 22-824 Requirements for a contracted entity administering economic development benefits.
AC § 22-824
a. In each covered contract with a contracted entity executed on or after the effective date of this section, the commissioner shall require, for any project that must be reported on in the annual report required by section 22-823, that: 1. where such contracted entity administers assistance, as such assistance is described in subparagraph (b) of paragraph 1 of subdivision b of section 22-823, to a person in connection with such project, such contracted entity, no later than 30 days before the commencement of such assistance, submit to the department and the speaker of the council an impact statement including, at a minimum, an estimate of the fiscal impact of such assistance upon the revenues and expenditures of the city during (i) the fiscal year in which such assistance commences, (ii) the succeeding fiscal year, and (iii) the first fiscal year in which the full fiscal impact of the economic development project is expected to occur, and job creation estimates for the first fiscal year in which the full fiscal impact of the economic development project is expected to occur; and 2. on the first business day of every second month, such contracted entity deliver to the mayor and speaker of the council and post on the website of such contracted entity, or, if no such website is maintained, the commissioner shall post on the department's website, a report on projects for which assistance, as such assistance is described in subparagraph (b) of paragraph 1 of subdivision b of section 22-823, has been administered by such contracted entity and which are in default of one or more material terms of the project agreement under which such assistance was provided, which report shall contain: (i) descriptions of enforcement actions taken with regard to events of default as defined in such agreements, (ii) the persons against which enforcement actions have been undertaken, (iii) the number of ongoing projects outstanding, (iv) the percentage of projects with respect to which enforcement actions are being undertaken as compared against the number of ongoing projects outstanding, (v) events of default under such agreements for which no enforcement actions are currently contemplated, and (vi) the amounts recovered through enforcement actions. b. Information provided to the department pursuant to subdivision a of this section shall constitute a public data set for purposes of chapter 5 of title 23 of the code. (L.L. 2017/220, 12/1/2017, eff. 1/15/2018; Am. L.L. 2017/221, 12/1/2017, eff. 1/15/2018) Editor's note: For related unconsolidated provisions, see Appendix A at L.L. 2017/220 and L.L. 2017/221.
