1996 US Code
Title 40 - PUBLIC BUILDINGS, PROPERTY, AND WORKS
CHAPTER 22 - FEDERAL TRIANGLE DEVELOPMENT
Sec. 1105 - Lease of building by GSA
View Metadata| Publication Title | United States Code, 1994 Edition, Supplement 2, Title 40 - PUBLIC BUILDINGS, PROPERTY, AND WORKS |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 40 - PUBLIC BUILDINGS, PROPERTY, AND WORKS CHAPTER 22 - FEDERAL TRIANGLE DEVELOPMENT Sec. 1105 - Lease of building by GSA |
| Contains | section 1105 |
| Date | 1996 |
| Laws in Effect as of Date | January 6, 1997 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Pub. L. 100-113, §6, Aug. 21, 1987, 101 Stat. 740. |
| Statutes at Large Reference | 101 Stat. 740 |
| Public Law Reference | Public Law 100-113 |
§1105. Lease of building by GSA (a) Entry into agreement
Before the development agreement is entered into under section 1104 of this title, the Administrator shall enter into with the person selected to construct the building under section 1104 of this title an agreement for the lease of such building for Federal office space and the international cultural and trade center space.
(b) Terms of agreementThe agreement entered into under this section shall include at a minimum the following terms:
(1) The Administrator will lease the building for the term that the person selected to construct the building owns the building.
(2) The rental rate per square foot of occupiable space for all space in the building will be in the best interest of the United States and carry out the objectives of this chapter, but in no case may the aggregate rental rate for all space in the building produce an amount less than the amount necessary to amortize the cost of development of the Federal Triangle property over the term of the lease.
(3) Obligations of funds from the Federal Building Fund shall only be made on an annual basis to meet lease payments.
(4) The Administrator will be permitted to sublease to the Commission for establishment, operation, and management of the international cultural and trade center under section 1107 of this title.
(c) Accounting systemThe Administrator shall maintain an accounting system for operation and maintenance of the building to be constructed under section 1104 of this title which will permit accurate projections of the dates and the costs of major repairs, improvements, reconstructions, and replacements of such building and other capital expenditures on such building. The Administrator shall take such action as may be necessary to assure that funds are available to cover such projected costs and expenditures.
(d) Obligation of fundsObligation of funds to make lease payments under this section may only be made on an annual basis and from amounts in the fund established by section 210(f) of the Federal Property and Administrative Services Act of 1949 (40 U.S.C. 490(f)).
(Pub. L. 100–113, §6, Aug. 21, 1987, 101 Stat. 740.)
Section Referred to in Other SectionsThis section is referred to in sections 1103, 1104, 1107 of this title.
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