The bill establishes a lease agreement between the District of Columbia and DC Strategic Value Property Investor I LLC for 38,677 square feet of office space at 1325 G Street, NW, designated for the Public Service Commission (PSC). The lease will commence on December 22, 2025, for a primary term of 12 years and 8 months, with an option for a 5-year extension. The initial annual rent is set at $1,929,208.76, which includes net rental, operating costs, and real estate taxes. The Department of General Services (DGS) conducted a competitive solicitation process, ultimately negotiating favorable terms, including a rent abatement of approximately $4,096,000, ensuring the PSC's operational needs are met within budgetary constraints.

The bill outlines various provisions related to the lease, including definitions of key terms, maintenance responsibilities, and financial obligations. It specifies the District's exclusive rights to use the premises, prohibits certain activities, and mandates compliance with environmental regulations. Additionally, the bill addresses alterations to the premises, insurance requirements, and the handling of defaults by either party. It emphasizes nondiscrimination in facilities and employment, establishes guidelines for contractor compliance with labor standards, and modernizes existing legal frameworks to enhance operational efficiency. Overall, the legislation aims to formalize the leasing arrangement while ensuring clarity in the rights and responsibilities of both the District and the landlord.