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Kodiak assembly directs manager to pursue $1.30-per-square-foot lease for North Star with annual CPI
Summary
After a lengthy debate about building upkeep and childcare needs, the Kodiak Island Borough Assembly directed the borough manager to negotiate a North Star school lease at $1.30 per square foot plus an annual CPI adjustment, with a three-year term to be revisited for maintenance costs.
The Kodiak Island Borough Assembly on March 26 directed the borough manager to pursue a lease at $1.30 per square foot, plus an annual consumer-price-index adjustment, for the North Star school building while negotiating terms with prospective tenants.
The manager presented a proposal from a nonprofit seeking roughly 10,746 square feet — about 62% of the building — for a daycare and social-service offices. The borough’s estimated monthly rent at the previously used rate of $1.20 per square foot would have been about $12,895.20; assembly members raised concerns that figure would not cover foreseeable maintenance and a pending boiler and roof-related work.
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