If an Equity Participant or Development Participant loses its LSDBE certification during the course of a Covered Project resulting in less than the minimum Equity Participation or Development Participation requirement under Section 2349a of the Act, the Department shall evaluate on a case-by-case basis whether:

1. (a) Another Equity Participant or Development Participant can participate in the Covered Project without causing any detriment to the overall project or the Master Developer, so that the 20% Equity Participation and 20% Development Participation requirements are met;
2. (b) To modify or waive some or all of the EDP Program requirements for the Covered Project; or
3. (c) After assessing the circumstances, some other appropriate action is warranted.

SOURCE: Final Rulemaking published at 56 DCR 8439 (October 23, 2009), incorporating by reference text of Proposed Rulemaking published at 56 DCR 5622, 5653 (July 10, 2009).