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District proposes raising minimum lot lease after sale of improvements; projects long-term revenue gain
Summary
Manager recommended increasing minimum lot lease to $1,537.50 for leases renewed after sale of improvements, projecting a rise from $191,683.28 to about $524,000 annually over a 10–20 year phase-in. Board discussed legal contingency that a revised rate requires a new 50-year lease.
District Manager Brandon Powell told the board the district has authority to adjust lot-lease amounts after the sale of improvements provided a new 50‑year lease is signed by the purchaser. He recommended raising any lot lease below $1,537.50 to that floor once the property transfers; the proposal is contingent on each new owner signing the long-term lease.
Manager Powell reported current annual lot-lease receipts are $191,683.28 and estimated that, “By increasing all lot leases to this amount after the sale of the improvement by the time all have been increased, the total revenue would increase to approximately $524,000 a year.” The manager characterized the change as a long-term plan that could take 10–20 years to fully phase in. The board tabled further action to the September meeting for additional review.
