D.C. Mun. Regs. tit. 10, r. 10-B5806

Current through Register Vol. 71, No. 36, September 6, 2024
Rule 10-B5806 - AFFORDABLE FACILITIES LEASE PROGRAM
5806.1

The Mayor may lease real property (or sublease real property which is the subject of a master lease) within the District of Columbia to a Qualified High Technology Company or its sponsor for use in the operation of the Qualified High Technology Company.

5806.2

The Mayor may lease or sublease real property to Qualified High Technology Companies at reasonable below-market rates, as determined by the Mayor.

5806.3

The Mayor may sublease the premises under a master lease for an amount that is less than the rental rate under the master lease.

5806.4

Under no circumstances may the Mayor lease the premises under a master lease for an amount in excess of the rental rate under the master lease.

5806.5

No sublease shall be for a term that is less than 12 months or more than 36 months, including any option to extend the sublease.

5806.6

The application for a lease or sublease shall conform to the requirements of section 5802 of these regulations, except that, in lieu of a proposed lease, the applicant shall submit a statement describing the amount of space desired and the desired lease term.

5806.7

An application for a lease or sublease shall be considered in accordance with the procedure established in section 5803 of these regulations.

5806.8

A Qualified High Technology Company that enters into a lease or sublease pursuant to this section shall be required to make the commitments described in section 5805 of these regulations.

5806.9

No application for a lease or sublease shall be granted if the Mayor determines that there exists a reasonable expectation that the Qualified High Technology Company will not perform the covenants and conditions of the lease, sublease, or any other pertinent agreement.

D.C. Mun. Regs. tit. 10, r. 10-B5806

Final Rulemaking published at 49 DCR 7502(August 2, 2002)