2 Del. Admin. Code § 2311-1.0

Current through Register Vol. 28, No. 7, January 1, 2025

Section 2311-1.0 - Long-Term Leases

Any future lease of Department-owned property for a term of five (5) years or more inclusive of any renewal option shall be deemed a "long-term lease", and DelDOT shall follow the regulation below to determine the value of the leasehold interest. This regulation shall not apply to any leaseback transactions; i.e. any lease by and between DelDOT and the owner /tenant in legal occupancy on the date the property was originally acquired by DelDOT.