District Of Columbia § 2-1227.05(Perm) - Walter Reed Reinvestment Fund.
Full text of District Of Columbia D.C. Code § 2-1227.05(Perm) — Walter Reed Reinvestment Fund., with citation guidance and answers to common questions.
§ 2-1227.05(Perm). Walter Reed Reinvestment Fund.
2-1227.05(Perm)*NOTE: This codification is the most current. To see the current law, click this link *
There is established as a special fund the Walter Reed Reinvestment Fund ("Fund"), which shall be administered by the Office of the Deputy Mayor for Planning and Economic Development and used solely for the purposes set forth in subsection (c) of this section.
The Chief Financial Officer shall deposit into the Fund all proceeds from the sale, lease, or equivalent use of the Walter Reed Redevelopment Site, including the Administration Payments, except for:
Proceeds that are used to pay the Army consideration due under the EDC Agreement; and
Funds received from the Developer to reimburse the District for payments to the Army made pursuant to the EDC Agreement.
The Fund shall be used solely:
To support job creation and economic development of, or related to, the Walter Reed Redevelopment Site, including to pay for:
Road construction;
Transportation management facilities;
Storm and sanitary sewer construction;
Police and fire protection facilities and other public facilities;
Utility construction;
Building rehabilitation;
Historic property preservation;
Pollution protection equipment or facilities;
Demolition;
Disposal of hazardous materials and hazardous waste generated by demolition;
Landscaping, grading, and other site or public improvements; and
Planning for or the marketing of the redevelopment or use of the Walter Reed Redevelopment Site;
For other purposes permitted by the EDC Agreement; and
To make payments due to the Army required under the EDC Agreement during the first 7 years after the date the District acquires the Walter Reed Redevelopment Site from the Army and thereafter for the purposes stated in this section and the economic development goals or activities of the District.
The Office of the Deputy Mayor for Planning and Economic Development shall have the authority to make grants from the Fund to recipients in furtherance of the purposes set forth in subsection (c) of this section
The money deposited into the Fund, and interest earned, shall not revert to the unrestricted fund balance of the General Fund of the District of Columbia at the end of a fiscal year, or at any other time.
Subject to authorization in an approved budget and financial plan, any funds appropriated in the Fund shall be continually available without regard to fiscal year limitation.
Source: official District Of Columbia text · Last verified 2026-08-27
Frequently Asked Questions About District Of Columbia § 2-1227.05(Perm)
What does D.C. Code § 2-1227.05(Perm) cover?
Section 2-1227.05(Perm) ("Walter Reed Reinvestment Fund.") is part of the D.C. Code, the codified statutory law of District Of Columbia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite District Of Columbia § 2-1227.05(Perm)?
A common citation format is "D.C. Code § 2-1227.05(Perm)" (District Of Columbia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of District Of Columbia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the District Of Columbia official source linked on this page or consult a licensed District Of Columbia attorney.
How does District Of Columbia § 2-1227.05(Perm) apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in District Of Columbia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in District Of Columbia.