COUNCIL OF THE DISTRICT OF COLUMBIA

COMMITTEE OF THE WHOLE

1350 Pennsylvania Avenue, NW

Washington, DC 20004

 

             

TO:                  Nyasha Smith, Secretary to the Council

              

FROM:            Phil Mendelson, Chairman

                                                     

DATE:             December 13, 2018

 

 

The following measures are placed on the agenda for the December 18, 2018 Additional Legislative Meeting:

 

§  PR 22-1149, “University of the District of Columbia Lease Agreement with BDC Van Ness LLC Emergency Declaration Resolution of 2018”

§  PR 22-1150, “University of the District of Columbia Lease Agreement with BDC Van Ness LLC Emergency Approval Resolution of 2018”

 

This legislation is necessary to approve a three-year lease between UDC and BDC Van Ness LLC for property located at 4250 Connecticut Avenue, NW.  It also provides for the option of two three-year renewal terms.  Further, the lease includes a purchase option that may be exercised at any time during the lease term.  If UDC purchases the property by December 31, 2020, the purchase price will be $35,000,000.

 

               Over the past few months, the University has moved students and classes out of Building 41, its largest academic building on its Van Ness campus, as the building needs to be renovated to make it safe for individuals to use.  Additionally, other buildings at UDC’s Van Ness campus need to be renovated, but UDC needs swing space during these renovations.  Since the building at 4250 Connecticut Avenue is right next to UDC’s Van Ness campus, leasing this building provides the University with the flexibility it needs with minimal disruption to its students, faculty, and staff.  Thus, it is desirable that this lease be approved by the Council, and that this be done expeditiously.

 

Notably, since UDC will be inhabiting several buildings along the Van Ness retail corridor, it agreed on December 4, 2018 to a non-binding letter of intent with Van Ness Main Streets to make a good-faith effort to activate retail spaces at UDC’s Connecticut Avenue properties.  Leasing 4250 Connecticut pursuant to this emergency lease approval will facilitate this promise.  Given that the emergency legislation was introduced on November 27, 2018 but that the letter of intent was not signed until December 4, 2018, the emergency declaration has been amended to reflect the letter of intent