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D.C. Municipal Regulations (Last Updated: September 13, 2017) |
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Title 10. PLANNING AND DEVELOPMENT |
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SubTilte 10-B. PLANNING AND DEVELOPMENT |
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Chapter 10-B58. SECURITY DEPOSIT AND AFFORDABLE FACILITIES ASSISTANCE FOR QUALIFIED HIGH TECHNOLOGY COMPANIES |
Section 10-B5806. AFFORDABLE FACILITIES LEASE PROGRAM
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5806.1The 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.
5806.2The Mayor may lease or sublease real property to Qualified High Technology Companies at reasonable below-market rates, as determined by the Mayor.
5806.3The Mayor may sublease the premises under a master lease for an amount that is less than the rental rate under the master lease.
5806.4Under 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.
5806.5No sublease shall be for a term that is less than 12 months or more than 36 months, including any option to extend the sublease.
5806.6The 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.
5806.7An application for a lease or sublease shall be considered in accordance with the procedure established in section 5803 of these regulations.
5806.8A 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.
5806.9No 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.