Section 10-B5502. TENANT ADMISSION CRITERIA

 

5502.1Tenant admission into an incubator facility shall be by application on a form to be provided by OBED.

 

5502.2In reviewing applications for eligibility, OBED shall place priority, but not limit its review to such factors as size, age and financial status of the business.

 

5502.3The OBED may consider eligible businesses for admission into the incubator facility; Provided, that the following conditions are met:

 

(a)The business in operation or ready to start operations;

 

(b)A business plan which details the financial, marketing and operating aspects of the business and which shows the financial viability of the business has been submitted; and

 

(c)A potential for success and identification of markets for its goods or services has been demonstrated.

 

5502.4The OBED may rank eligible businesses for incubator space by the type and composition of businesses in each incubator facility.

 

5502.5The OBED shall give priority for admission of a business as a tenant in an incubator facility to businesses that meet the following requirements:

 

(a)Make major contributions to job creation efforts for District residents. Examples of this priority include businesses such as light industrial, research and development, and business service companies; and

 

(b)Are owned by persons who are residents of the District.

 

source

Final Rulemaking published at 34 DCR 3159, 3160 (May 15, 1987).