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Senate committee approves WSTA lease; three Subbase redevelopment leases held for further review
Summary
The committee approved a 20-year lease for WSTA Radio (bill 36-0089) with a $30,000 annual base rent and $100,000 in lessee improvements. Three larger Subbase lease proposals (36-0199, 36-0204, 36-0205) proposing multi-year terms, phased rent abatements and millions in capital investment were held in committee for additional information and parity checks.
The Senate Committee on Budget, Appropriations and Finance voted to approve a 20-year lease for PEO Productions LLC (doing business as WSTA Radio) covering three Submarine Base parcels and forwarded bill 36-0089 to Rules and Judiciary. The committee held three other Subbase lease proposals for additional review and requested parity checks and more detailed revenue and remediation plans from the Department of Property and Procurement.
WSTA lease approved
PEO Productions (WSTA) will operate under a 20-year lease with two five-year renewal options; the agreed base rent is $30,000 annually (with a reduced permitting/construction rent during an initial two-year…
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