The proposed bill amends the In-Lease Agreement between the District of Columbia and HGIT 1015 Half Street LLC for the property at 1015 Half Street, SE, extending the primary lease term by 11 years, from June 1, 2029, to May 31, 2040. The District will occupy 136,819 rentable square feet of office space, including 10,601 square feet on the seventh floor. The amendment is expected to yield significant financial benefits, such as approximately $9.7 million in rent abatement and a $15.5 million tenant improvement allowance for enhancing facilities used by various District agencies. The bill also clarifies the terms of rental and tenant improvement allowances, ensuring that calculations for Annual Rental and Additional Rent for both the Original and Expansion Premises are kept separate.

Additionally, the bill outlines the responsibilities related to tenant improvements, including the approval process for proposed budgets and schedules, compliance with security and IT requirements, and participation of Small Business Enterprises. It mandates adherence to the Davis-Bacon Act for wage standards in construction work and establishes penalties for non-compliance. The bill also emphasizes the importance of maintaining accurate payroll records and compliance with labor standards, ensuring that contractors and subcontractors are held accountable for fair compensation of laborers, apprentices, and trainees. Overall, the amendments aim to streamline the lease agreement's operational and financial terms while ensuring compliance with labor laws and enhancing oversight of the construction process.