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 (DYRS) currently occupies this space, and the amendment includes provisions for an annual rental amount of $1,898,263.80 for the first year, with scheduled escalations in subsequent years. Notably, the District will not have the right to further extend the lease or an option to purchase the property. The amendment also provides for a rent credit of $88,053.49 and an Extended Initial Term Tenant Improvement Allowance of $850,000 for necessary upgrades, including HVAC improvements.

Additionally, the bill outlines specific responsibilities regarding tenant improvements, including compliance with the Davis-Bacon Act and the requirement for 50% participation from Small Business Enterprises and Certified Business Enterprises in the improvement projects. It updates notice requirements and clarifies service procedures for official communications. The bill also emphasizes that the liability of multiple property owners is joint and several, allowing the District to pursue claims against any owner for lease-related breaches. Overall, the bill aims to ensure that the lease extension meets the operational needs of DYRS while maintaining compliance with financial and regulatory standards.