Plain English Breakdown
Checked against official source text during the last sync.
Temporary Change to Lease Rules for Rhode Island Avenue Grants
This law temporarily lowers the minimum lease length required to get a grant in the Rhode Island Avenue area from ten years to five years.
What This Bill Does
- Changes section 2032 of the Deputy Mayor for Planning and Economic Development Limited Grant-Making Authority Act of 2012.
- Reduces the long-term lease requirement for grant eligibility from 10 years to no fewer than 5 years.
- Requires that any existing lease must have at least 3 years remaining on it by the time applications close.
- Sets a specific expiration date of 225 days after the law takes effect.
Who It Names or Affects
- Applicants seeking funds from the Rhode Island Avenue Support Grant Program
- Property owners or tenants with leases in the Rhode Island Avenue Corridor
Terms To Know
- Rhode Island Avenue Support Grant Program
- A funding program for projects along the Rhode Island Avenue corridor.
- Long-term lease adjustment
- The change in rules that shortens how long a property must be leased to qualify for money.
Limits and Unknowns
- This law expires automatically after 225 days of being effective.
- The text does not state the exact dollar amount or number of grants available under this change.