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Torrance council asks staff to research safeguards for long-term ground leases
Summary
Councilmembers debated codifying minimum market-value thresholds for long-term ground leases and directed staff to research best practices and bring options to the Finance and Government Operations Committee for further consideration.
During general discussion the council considered whether the city should embed safeguards in code to prevent long-term ground leases from being set well below market value.
Councilmember Metucci proposed that long-term ground leases be set “within at least the top 90 of the market value” to protect public assets and prevent decades-long underperforming leases. He said the…
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