New Convention Center Hotel project-deed and recordation tax exemption.
(a)For the purposes of this section, the term:#
(a) For the purposes of this section, the term:
(1) “New Convention Center Hotel TIF Area” means the real property located in Lots 18, 21, 22, 24, 801 through 806, 830 through 839, 843, and 845, Square 370, bounded by 9th Street, N.W., 10th Street, N.W., L Street, N.W., and Massachusetts Avenue, N.W.
(2) “Project” means the financing, refinancing, or reimbursing of costs incurred for the acquisition, construction, installing, and equipping of a hotel having approximately 1,100 rooms and suites, meeting and ballroom space, and other ancillary facilities customarily found in convention center hotels.
(b)All transfers of real property in the New Convention…#
(b) All transfers of real property in the New Convention Center Hotel TIF Area pursuant to the project and through the date that is 6 months after the effective date of the lease authorized under [ part C of subchapter I of Chapter 12 of Title 10 ] and any transfer by the District of Lot 45 in Square 374 in connection with the project shall be exempt from the taxes imposed by §§ 42-1103 and 47-903 .