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National Capital Revitalization Corporation
Performance Plan for 2001
April 18, 2001




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DRAFT - APRIL 18, 2001

National Capital Revitalization Corporation
Performance Plan for 2001

I. Background

Pursuant to Section 14 of the National Capital Revitalization Corporation Act of 1998 (D.C. Law 12-144, referred to herein as the "NCRC Act" and codified at D.C. Code §1- 2295.13), the Board of Directors for the National Capital Revitalization Corporation ("NCRC" or the "Corporation") has adopted this Performance Plan for the period of January 18, 2001 through January 18, 2002. NCRC is an independent corporate instrumentality of the District of Columbia that has been charged with a specific mission: improving District businesses, promoting real estate development, and infusing economic development into the District of Columbia. The corporation's main goals include fostering economic growth and employment opportunities in the District; retaining and expanding businesses located within the District; and attracting new businesses to the District. Thus, the three-pronged focus of NCRC is real estate development, business development and increasing the District's employment base.

The Corporation's Board of Directors approved a Revitalization Plan on January is, 2001 and submitted it to the District of Columbia Council for consideration on January 24,2001. Since the Council did not act within forty-five days it is deemed approved. The Revitalization Plan is broad in scope and general in approach. It serves as a framework for the operations of NCRC.

The NCRC Act provides that the Corporation "shall prepare an annual performance plan for the operations of the Corporation during the 5-year period that begins on the date of the Board's adoption of a Revitalization Plan." As the Revitalization Plan was adopted on January 18, 2001, this Performance Plan covers the first annual period from January 18, 2001 through January 17, 2002. This Performance Plan is also intended to serve as the basis for the future Performance Plans, and it outlines the Corporation's strategic objectives over the next five (5) years. As required by the NCRC Act, the Corporation will prepare a new Performance Plan each year.

This Performance Plan consists of three Sections, namely: (1) Annual performance goals for the Corporation; (2) Performance benchmarks to be used in measuring or assessing the extent to which the Corporation has met the annual performance goals; and (3) Methodologies for comparing the performance results of the Corporation with the established annual performance goals.

II. Annual Performance Goals

This Section sets forth the Corporation's annual performance goals for January 18, 2001 to January 18, 2002. This Section also provides a more general plan for the first five years of the Corporation. A number of the Corporation's goals are long-term and cannot be completed within the first year; however, this Performance Plan contemplates that progress will be made toward these long-term goals. As such, these long-term goals are included in this Section even though the Corporation does not anticipate that such activities can be completed during the first year of its operations.

Within six months, NCRC will develop specific criteria to be used in underwriting projects for financing and making final decisions on which projects to fund. As a first step, NCRC has prepared the attached Project Screening Guidelines that will be used for the purposes of preliminary review. Projects meeting these guidelines will be considered for feasibility review. NCRC also will develop, within six months, a clear process for how projects will come to NCRC for consideration, and the process for review and final approval. The Project Screening Guidelines may be modified during this process. In the meantime, NCRC will consider projects on a case-by-case basis, including projects brought to NCRC from outside sources and/or generated from within NCRC. During this period, outside groups with projects they believe meet the attached Project Screening Guidelines, should contact the NCRC President and CEO.

A. PERFORMANCE PLAN - YEAR ONE - January 18,2001- January 17,2002

NCRC's annual goals for its first year of operation are as follows:

1. Identify and complete feasibility studies of two or more projects that have a high probability of being able to be brought to fruition and/or to demonstrate significant progress within the first year. These will be projects, typically brought to NCRC by outside entities that, although relatively limited in scope and complexity, if implemented would have a major impact on a neighborhood.

2. Starting no later than July, 2001, undertake a six month effort to develop a Business/Employment Development Program, in coordination with existing public and private resources, which will bring together those resources to focus on a few key employment sectors, to be determined through this effort. Sectors currently identified for concentrated focus include technology, "back-of-office," tourism, biomedical research, political campaign support; and government procurement. NCRC will work in close cooperation with the D.C. Marketing Center, the Tech Council, the District of Columbia Department of Employment Services, and such trade organizations as may be appropriate, the Superintendent of Schools, procurement agencies of the Federal and City governments, the D.C. Banking Commissioner, local colleges and universities, other appropriate city agencies, etc.

3. Transfer the powers, duties and responsibilities of the RLA Board to the NCRC Board, as well as the assets, in an orderly manner chat will allow NCRC to effectively manage the assets and maximize income and potential return, given public purpose goals.

4. Transfer the powers, duties, and responsibilities of the Board of Directors of the Economic Development Finance Corporation, along with its assets to the Board of Directors of NCRC.

5. Assume development management responsibility for RLA parcels with active Exclusive Negotiating Rights Agreements and/or RFP's previously issued by RLA, such as Columbia Heights and Wax Museum sites. Expedite the implementation of such projects.

6. Hire core skilled staff with expertise in real estate development and finance, along with operational and administrative support staff as needed for effective operation such as Chief Financial Officer, General Counsel and administrative assistants and secretarial staff; and contract with outside entities for specialized services, as appropriate, related to business development and finance, asset and property management, communications, and the like.

7. Starting no later than July, 2001, undertake a six-month effort to prepare a corporate business development plan for implementation by the end of the first year. The business plan will focus on NCRC strategies for financial self-sufficiency and maximizing leverage of its resources.

8. Fully launch the operations of NCRC, including securing, through a competitive process, consultants and other professionals to support the work of the corporation, such as legal counsel, accountants, real estate advisory services, etc.; and finalizing NCRC policies and procedures, such as ethics rules, procurement rules, employee handbooks and detailed criteria for assistance.

9. Determine the optimal structure of NCRC, given its overall mission, for example, whether to form a holding company with subsidiary corporations to manage large scale developments.


The Corporation's long-term objectives are generally described in this Section II.B. During the first year of operations, the Corporation intends to advance these long-term goals. The Corporation does not intend to complete these activities during the first year of operations, but will make demonstrable progress toward implementing these goals.

1. Explore development opportunities and, where appropriate, undertake feasibility analyses, of at least five real estate development projects that have a high probability of being able to be brought to fruition within 5 years, if demonstrated to be feasible. Projects in this category currently under consideration include: Skyland Shopping Center and other development opportunities East of the River; economic development of areas surrounding relocated municipal facilities and metro stops; development in connection with Howard University's redevelopment efforts; Howard Theater/Shaw Cultural area, implementation of projects generated by The Office of Planning's Waterfront Planning Initiative, and related to the Office of Planning's targeted neighborhood strategy, etc.

2. Commence exploration, feasibility analyses and predevelopment work on at least five major redevelopment projects critical to the overall economic health of the District that will take more than five years to complete. Projects in this category include redevelopment of the Southwest Waterfront and the St. Elizaheth's Hospital site, the South Capitol Gateway, NOMA, Poplar Point, H Street Gateway, Georgia Avenue, Buzzard Point redevelopment, Southeast Waterfront redevelopment, McMillan Reservoir redevelopment.

3. NCRC's five-year plan is to have caused the implementation of the projects identified during its first year of operation as economically feasible. On each real estate development project, LSDBE goals and employment diversity will have been accomplished. A minimum of 50% of the jobs created through these projects will have gone to D.C. residents.

4. NCRC will operate an effective Business/Development Program, in coordination with identified public and private entities that will have significantly increased business and employment opportunities in the District for new and existing businesses and residents. At the beginning of each year, starting in year two, NCRC will establish specific goals for employment and business development, against which it will be measured.

5. As requested by the City and approved by the Board, assume development management responsibility for major City projects with high priority and visibility where NCRC's expertise will benefit the City, such as the redevelopment of the former Convention Center sire.

III. Performance Measures

The Corporation intends to measure its performance against the performance goals established in Section II and, as mentioned above, NCRC will establish specific goals at the beginning of year two, and each year thereafter, for employment and business development. The Corporation's stated goal is to have completed items 1 through 7 of Section II.A. With regard to those items, the Corporation's performance can be measured by whether NCRC has completed these activities by January 17, 2002. With regard to these items, the Corporation's performance will be measured with regard to the extent that these activities have been completed. All of these items provide a general description of the time frame in which these objectives are to be completed. In evaluating the Corporation's performance, it is the Corporation's intent to measure its performance based on the degree to which the activity has been advanced as compared with the desired time frame for such an activity.

Items 1 and 2 of Section II.B can be measured on the basis of the number of projects reviewed for feasibility and identified for implementation. Typical In the real estate development industry, for every project that ultimately proceeds to fruition, many are explored for feasibility. The situation faced by NCRC, is somewhat unique, however, in that projects which come to NCRC already will be have been identified initially as promoting the public purpose and benefiting the city and neighborhoods in which they are located. The challenge to NCRC will be to identify all resources available, and to determine whether the financial and other resources required and the potential economic return to NCRC merit implementation.

IV. Methodologies for Assessing Performance

The Corporation intends to use a three-step process in order to evaluate its performance at the end of the first year of operations. As required by the NCRC Act, the Corporation will arrange for an auditor to prepare an assessment of the Corporation's completion of the goals described in this Performance Plan. First, the Corporation's CEO on behalf of NCRC shall prepare a self-assessment that sets forth the goals and the efforts that the Corporation has made toward these goals. Second, the self-assessment shall be provided to the independent auditor. The auditor will review the self-assessment and conduct a review of the Corporation's files. Based on this analysis, the auditor shall prepare a report for the Corporation's Board of Directors that shall set forth the auditor's independent assessment of the Corporation's progress. Finally, the Board of Directors shall review both the self-assessment and the auditor's assessment and shall perform its own self-assessment, which shall be in the nature of comments to the auditor's assessment.

Once this process is complete, the assessments shall be forwarded to the appropriate recipients as required by the NCRC Act.

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