2001 District of Columbia Act Amending Municipal Code to Establish a Special Assessment District

The District of Columbia needed a mechanism to fund the construction of a new Metro-rail station without relying solely on general taxation or stretching citywide finances. This Act created a special assessment district in the area surrounding the planned station. Properties within this district that would benefited from the station are subject to a special annual assessment, calculated proportionally to their assessed property value. Revenues from this assessment go into a dedicated fund to repay debt on bonds issued to finance the station.