Delaware Administrative Code
Title 2 - Transportation
2000 - Department of Transportation
2300 - Division of Planning and Policy
2311 - Long-Term Lease Policies and Practices
Section 2311-1.0 - Long-Term Leases
Universal Citation: 2 DE Admin Code 2311-1.0
Current through Register Vol. 28, No. 3, September 1, 2024
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.
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