5500.1 The purpose of this chapter is to establish procedures to do the following:

1. (a) Facilitate the establishment of one (1) or more business incubator facilities in the District of Columbia by offering the use of city-owned property, credit support for financing businesses in the incubator, and other incentives to ensure that tenant business costs for space and services are kept at a minimum; and
2. (b) Design business incubator facilities to assist companies through the conceptual, start-up, and early growth stages of their businesses. The business incubator facility is not intended to serve merely as inexpensive quarters for established businesses.

5500.2 Administration of the Program shall be the responsibility of OBED pursuant to Mayor's Order 86-34.

5500.3 The OBED may, at its discretion, contract with a qualified contractor for the operations of a facility, consistent with this chapter. The selection of a contractor is subject to review by Committee on Housing and Economic Development (HED).

5500.4 The OBED may establish other administrative procedures it deems necessary to ensure effective administration of the Program, consistent with this chapter.

5500.5 The Advisory Board, established in §12 of the Act shall advise the Mayor and Council on ways in which the District can best support the incubator development and facilitate the delivery of services and resources to tenant businesses.

AUTHORITY: Unless otherwise noted, the authority for this chapter is §14 of the Business Incubator Facilitation Act of 1985, D.C. Law 6-71, D.C. Code §1-2243 (1981); Mayor's Order 86-34, 33 DCR 1819 (March 21, 1986).

SOURCE: Final Rulemaking published at 34 DCR 3159 (May 15, 1987).