§ 1–306.37. Housing trust fund requirement where existing housing removed.

If the applicant agrees to contribute funds to a housing trust fund, and if the additional commercial office space is located on a development site that is improved with 1 or more housing units that are removed, either after the application or within 1 year prior to the application to facilitate the commercial development, the amount of funds to be contributed shall be no less than the total of the assessed value of the housing units that are removed plus 1/2 of the assessed value of the total square footage of additional commercial office space.