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Board affirms standard lease terms: 10-year term and COLA tied to federal CPI unless lending need arises
3807946 · June 5, 2025
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Summary
The board discussed tenant requests about lease ceilings and term length and affirmed continuing the current approach: standard 10-year leases with cost-of-living adjustments tied to the federal CPI; longer terms may be considered case‑by‑case for lending needs and require board approval.
The board discussed requested clarifications to lease language after a tenant raised two questions: whether there is a ceiling on cost-of-living increases and whether the authority offers lease terms longer than 10 years.
Board members and staff said the cost-of-living adjustments (COLA)…
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