The proposed bill is a Third Amendment to the In-Lease Agreement between the District of Columbia and 450 H. Street, LLC, which seeks to extend the lease for approximately 31,340 square feet of office space at 450 H Street, NW for an additional five years, from July 1, 2025, to June 30, 2030. The Department of Youth Rehabilitation Services currently occupies this space, and the amendment allows them to continue their operations there. The financial terms include a first-year rental amount of $1,898,263.80, with annual escalations based on the Consumer Price Index and real estate taxes. The amendment also provides for $88,000 in rent abatement and a $850,000 tenant improvement allowance for necessary upgrades to the premises.

Additionally, the bill outlines responsibilities for both parties regarding tenant improvements, including timelines for completion and the process for handling excess costs. It mandates compliance with the Davis-Bacon Act for any work performed under the lease and updates notice requirements for the District. The bill also clarifies the joint and several liability of multiple property owners and emphasizes that the lease does not create a partnership or third-party beneficiaries. Overall, the amendments aim to clarify responsibilities, ensure compliance with legal standards, and streamline communication between the District and the landlord.