Meridian International Center.

(a)

(1) Beginning on the effective date of this section, the real property designated as Lots 806, 808, and 809 in Square 2568, known as the Meridian House and the White-Meyer House, and Lots 2369 through 2401, 2413 through 2417, 2423, 2441, and 2442 in Square 2567, together with any improvements and furnishings (“Property”) shall be exempt from all taxation; provided, that the Property is:

(A) Owned by the Meridian International Center, a District of Columbia nonprofit corporation;

(B) Used for the purposes and activities of the Meridian International Center; and

(C) Not used for any commercial purposes, except as provided in subsection (b) of this section.

(2) Use of the premises by agencies of the United States of America or by any organization exempt from federal income taxation shall not affect the exemption from taxation provided for in this section.

(b) Section 47-1005 shall apply with respect to the Property; provided, that a portion of the Property may be rented out to another person or entity as long as the rent or other income generated shall be used for the maintenance and preservation of the Property.