§ 37–107. Right of first refusal for existing inside operations.

(a) Any individual, association or corporation having a lease, contract, agreement, or legally binding understanding to operate one or more stalls in the South Hall, a breakfast or lunch restaurant in the Center and South Hall, a pottery studio in the Center Hall, a community- and arts-related space in the North Hall as of August 1, 1997, shall be offered the right of first refusal to sub-lease under substantially similar terms, except that:

(1) The terms shall incorporate the provisions of this chapter and any regulations promulgated pursuant to it; and

(2) Rents or other financial arrangements shall reflect fair market rents and practices, but rents and fees for the operator of the North Hall shall take into account that certain activities will be charged only nominal fees.

(b) Annual rent increases for any operators shall be limited to 102% of the Consumer Price Index (“CPI”), or to an additional amount to reflect the cost of additional services provided, except that in no instance shall the annual increase exceed 110% of the CPI.