§ 47–1099.06. 5601 East Capitol, LLC; Lot 153, Square 5283.

(a) The real property located at 5601 East Capitol Street, S.E., and described as Lot 153 in Square 5283, ("real property") shall be exempt from real property taxation and possessory interest taxation so long as the real property continues to be owned or leased by 5601 East Capitol, LLC, and is used, or, if vacant, held for use, by one or more District of Columbia public charter schools, the University of the District of Columbia, or the Capital Area Food Bank.

(b) Any transfer, assignment, or other disposition of all or any portion of the real property, including a lease of the real property to 5601 East Capitol, LLC, or an assignment or sublease of the leasehold interest in the real property by 5601 East Capitol, LLC, to a District of Columbia public charter school or Charter School Incubator Initiative, or a deed of trust or other security instrument with respect to the real property granted by 5601 East Capitol, LLC, to a lender, shall be exempt from the tax imposed by § 42-1103 and § 47-903.