40 U.S.C. § 6734

Current through P.L. 118-107 (published on www.congress.gov on 11/21/2024)

Section 6734 - Ronald Reagan Building and International Trade Center

(a) ESTABLISHMENT AND DESIGNATION.-The building constructed on the Federal Triangle property shall be known and designated as the Ronald Reagan Building and International Trade Center.

(b) TITLE.-The person selected to develop the Federal Triangle property may own the Building for not more than 35 years from the date construction of the Building began. The title to the Building shall be in the Administrator of General Services from the date title to the Federal Triangle property reverts to the Administrator.

(c) LIMITATIONS.-

(1) SIZE OF BUILDING.-The Building (including parking facilities) may not exceed 3,100,000 gross square feet in size.

(2) HEIGHT OF BUILDING.-The height of the Building shall be compatible with the height of surrounding Federal Government buildings.

(3) DESIGN.-The Building shall-

(A) be designed in harmony with historical and Government buildings in the vicinity;

(B) reflect the symbolic importance and historic character of Pennsylvania Avenue and the Nation's Capital; and

(C) represent the dignity and stability of the Government.

(d) CONSTRUCTION STANDARDS.-The Building shall meet all standards applicable to construction of a federal building.

(e) ACCOUNTING SYSTEM.-The Administrator shall maintain an accounting system for operation and maintenance of the Building which will allow accurate projections of the dates and cost of major repairs, improvements, reconstructions, and replacements of the Building and other capital expenditures on the Building. The Administrator shall act as necessary to ensure that amounts are available to cover the projected cost and expenditures.

(f) LEASE OF BUILDING.-

(1) LEASE AGREEMENT.-Under an agreement with the person selected to construct the Ronald Reagan Building and International Trade Center, the Administrator shall lease the Building for federal office space and the international cultural and trade center space.

(2) MINIMUM REQUIREMENTS OF LEASE AGREEMENT.-The agreement includes at a minimum the following:

(A) LIMIT ON LENGTH OF LEASE.-The Administrator will lease the Building for the period of time that the person selected to construct the Building owns the Building.

(B) RENTAL RATE.-The rental rate per square foot of occupiable space for all space in the Building will be in the best interest of the Government and will carry out the objectives of this subchapter and the Federal Triangle Development Act (Public Law 100-113 101 Stat. 735). The aggregate rental rate for all space in the Building shall produce an amount at least equal to the amount necessary to amortize the cost of development of the Federal Triangle property over the life of the lease.

(C) OBLIGATION OF AMOUNTS.-Obligation of amounts from the Federal Building Fund shall only be made on an annual basis to meet lease payments.

(3) AUTHORIZATION TO OBLIGATE AMOUNTS.-Amounts may be obligated as described in paragraph (2)(C).

40 U.S.C. § 6734

Pub. L. 107-217, 116 Stat. 1199.

HISTORICAL AND REVISION NOTE
Revised Section	Source (U.S. Code)	Source (Statutes at Large)
6734(a)	40:1101 note.	Pub. L L 104-68, §1, Dec. 22, 1995, 109 Stat. 766.
6734(b)	40:1102(a)(2) (last sentence).	Pub. L. 100-113, §§3(a)(2) (last sentence), 4(b), 5(b)(2)(B), (d), 6, Aug. 21, 1987, 101 Stat. 736, 737, 739, 740.
	40:1104(b)(2)(B).
6734(c)	40:1103(b).
6734(d)	40:1104(d).
6734(e)	40:1105(c).
6734(f)(1)	40:1105(a).
6734(f)(2)	40:1105(b).
6734(f)(3)	40:1105(d).

In subsection (b), the words "Ownership of such property and building will be by the United States" in 40:1104(b)(2)(B) are omitted as unnecessary.In subsection (d), the text of 40:1104(d) (last sentence) is omitted as obsolete.Subsection (f)(1) is substituted for 40:1105(a) to eliminate obsolete words. In subsection (f)(2), the text of 40:1105(b)(4) is omitted as obsolete.Subsection (f)(3) is substituted for 40:1105(d) to eliminate unnecessary words.

EDITORIAL NOTES

REFERENCES IN TEXTThe Federal Triangle Development Act, referred to in subsec. (f)(2)(B), is Pub. L. 100-113, Aug. 21, 1987, 101 Stat. 735, which was classified to chapter 22 (§1101 et seq.) of former Title 40, Public Buildings, Property, and Works, prior to repeal, omission, and reenactment as this subchapter by Pub. L. 107-217, §§1, Aug. 21, 2002, 6, Aug. 21, 2002, 116 Stat. 1062, 1304. For complete classification of this Act to the Code, see Tables.

STATUTORY NOTES AND RELATED SUBSIDIARIES

REFERENCE TO RONALD REAGAN BUILDING AND INTERNATIONAL TRADE CENTER Pub. L. 104-68, §2, Dec. 22, 1995, 109 Stat. 766, provided that: "Any reference in a law, map, regulation, document, paper, or other record of the United States to the building referred to in section 1 [now 40 U.S.C. 6734(a)] shall be deemed to be a reference to the 'Ronald Reagan Building and International Trade Center'."