Notwithstanding any other law, no governing board of a community college district shall do either of the following:
(a) Make a gift of district real property to any entity that is not established by the district pursuant to Article 6 (commencing with Section 72670) of Chapter 6 of Part 45.
(b) Lease real property for less than fair rental value, as defined in paragraph (2) of subdivision (c) of Section 82542, to any entity unless the entity meets one of the following conditions:
(1) It is established by the district pursuant to Article 6 (commencing with Section 72670) of Chapter 6 of Part 45.
(2) It is described in Section 82537.
(3) It is described in Section 72682.
(4) It was in existence on August 31, 1980, and has been or is subsequently recognized by the governing board of a community college district as having a formal relationship with, and working on behalf of, the district or a constituent college thereof.