§ 7-1. "Business with the City" defined.

(a) In general.

In this subtitle, "business with the City" means any 1 or combination of sales, purchases, leases, or contracts:

(1) that are made:

(i) to, from, or with the City or an agency of the City; or

(ii) to, from, or with another person in connection with or in furtherance of a contract that is being negotiated or has been entered into by the other person with the City or an agency of the City; and

(2) involve consideration of $5,000 or more on a cumulative basis.

(b) Determining consideration.

For purposes of this section, the total consideration committed to be paid as of the award or execution of a contract or lease, to the extent then ascertainable, is included, regardless of the period over which payments are to be made.