18.40.020 Negotiated leases.
A. The assembly may approve by resolution the issuance of a negotiated lease for a period not to exceed five years if the annual rental value of the property is $500.00 or less and no competitive interest for the property is apparent.
B. The assembly may approve by resolution the issuance of a negotiated lease for a period not to exceed 25 years to a nonprofit corporation or public utility at a reasonable rental rate taking into consideration the purpose for which the real property is to be used.
C. A nonprofit corporation applying for a negotiated lease in subsection B of this section may be required to provide the following:
1. A copy of its articles of incorporation in the state of Alaska;
2. Verification that it is exempt from paying federal and state income tax;
3. A use plan to verify the need of the real property requested; and
4. A statement of public service being provided to the community and its availability for enjoyment by all citizens of the borough.
D. No lease issued as provided in subsection B of this section may be assigned or subleased except with the consent of the assembly, and in any case may only be transferred to an applicant eligible under subsection B of this section. If the real property is devoted to a use other than that for which it was leased without consent of the assembly, the lease automatically terminates. [Ord. 79-19-O, 1979; Ord. 78-7-O §2, 1978].