§ 1-05 Term of Concession.
RCNY § 1-05
No agency shall enter into a concession agreement for a term of more than 20 years (including option periods). Notwithstanding the foregoing, in extraordinary circumstances described in a detailed written statement to the Committee, an agency may issue a solicitation for a concession with a term in excess of 20 years upon the unanimous approval of the Committee. Thereafter, an agency may enter into a concession agreement with the successful bidder / proposer. (Amended City Record 10/29/2025, eff. 11/28/2025)
