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Council directs staff to build a consolidated lease policy emphasizing market rates and periodic review
Summary
Councilmembers instructed staff to consolidate scattered lease guidance into a citywide policy that generally charges market rates, limits long-term below-market deals, and includes exceptions and monitoring for nonprofits and caretaker units; staff will draft policy language for future council action.
City staff told the council on Feb. 25 that more time is required to develop a consolidated citywide lease policy and asked for direction on key principles. Council members provided several.
Councilman Moore and others said the city should be 'good stewards' of taxpayer assets by charging market rates and avoiding preferential treatment for private businesses. Several council members recommended routine contract reviews (suggested every five years) and contract escalators to keep pace with…
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