Walter Reed Development Assistance Emergency Amendment Act of 2024

This emergency bill amends the Walter Reed Development Omnibus Act of 2016 to change how money from the developer is handled after October 1, 2023. Instead of keeping the funds in the city's reinvestment fund, the bill requires that these payments be issued as grants back to the developer. The developer must use these funds to cover specific costs related to creating jobs and promoting economic development at the Walter Reed redevelopment site. The legislation is designed to take effect immediately upon approval and will remain in force for no more than 90 days.