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Board approves annual land lease to longtime tenant at $200 per acre
Summary
The Stewartville school board approved renewal of a year-to-year lease covering about 20 acres to tenant Larry Peterson at $200 per acre; the district said it uses lease receipts only to cover property taxes and cannot treat the land lease as a profit source.
The Stewartville Public School District board unanimously approved an annual land-lease agreement renewing cash rent to a longtime tenant, board members said.
Superintendent Ms. Silvers told the board the lease covers roughly 20 acres and is billed at $200 per acre; the tenant, Larry Peterson, has agreed to the renewal. She said the district pays the property taxes on the leased parcel and described the lease…
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