Pennsylvania Code
Title 12 - COMMERCE, TRADE AND LOCAL GOVERNMENT
Part III - Business Financing
Subpart C - Loans
Chapter 73 - PENNSYLVANIA INDUSTRIAL DEVELOPMENT AUTHORITY
Subchapter B - STATEMENT OF POLICY
MISCELLANEOUS
Section 73.311 - Subleasing

(1) No portion of the project may be leased to unrelated third parties without the prior written consent of PIDA and the following apply:

(2) The total square footage to be subleased may not exceed 49%.

(3) If PIDA consents to the lease, the lessor may be required to pay or cause to be paid to PIDA as a prepayment on the loan a portion of the gross rentals.

(1) No portion of the project may be used for an ineligible activity, such as commercial, service or retail, without the prior written consent of PIDA. If the industrial development agency or investor-developer is leasing to a private firm that is providing support services, such as accounting, legal and general office services to most of the eligible tenants or occupants, a lease of up to 20% of the total square footage may be approved by PIDA. If the industrial development agency or investor-developer is leasing to a nonrelated ineligible activity, a lease of no more than 15% of the total square footage may be approved by PIDA.

(2) Leases for eligible activities including, without limitation, manufacturing, industrial, and the like shall continue to be at the discretion of the industrial development agency or investor-developer.