The proposed bill seeks to amend the existing in-lease agreement between the District of Columbia and 250 E Street LLC for office space currently occupied by the Department on Disability Services (DDS). The amendment extends the lease term by an additional 15 years, from April 1, 2028, to March 31, 2043, with an annual rental amount of $5,427,142.10 for the first year. It maintains the option for the District to extend the lease for an additional 5 years and introduces a provision for the District to receive a proportionate share of any real estate tax refunds received by the Landlord, which will be applied as a rent abatement. The bill also outlines financial responsibilities related to tenant improvements, including a Landlord Credit that will abate a total of $8,440,572.57 in rental payments starting March 1, 2025, and a tenant improvement allowance of $10,198,200.00.

Additionally, the bill includes provisions to ensure compliance with labor standards for public construction projects, emphasizing the classification of laborers and mechanics under the Davis-Bacon Act. It mandates that contractors maintain payroll records for at least three years and outlines wage requirements for apprentices and trainees. The bill also clarifies compliance obligations for subcontractors, reinforcing accountability within the contracting process. Overall, the amendments aim to streamline the management of the lease agreement and enhance compliance with legal and financial obligations while ensuring fair compensation for workers involved in federally funded projects.