Shafter Municipal Code Ch. 2.74 Leasing City Property for Longer Than Fifty-Five Years

By resolution, the city may adopt a lease relating to city property for a period greater than fifty-five years and up to ninety-nine years if the city council makes the following findings:

A. The lease has been made subject to periodic review by the city council at an open meeting thereof; provided that the city council shall from time to time determine when such review shall be conducted.

B. The lease has taken into consideration current market conditions.

C. The public interest is served by the execution of the lease.

D. The consideration obtained in exchange for the lease is reasonable, appropriate, and proportionate to the value of the property.

E. A lease for a shorter period is not feasible under the circumstances.

For purposes of considering current market conditions and valuing the consideration received by the city in exchange for the lease, the city council may exercise reasonable discretion to determine the benefits received by the city from entering into the lease, and to place upon such benefits the city council's reasonable estimate of their value to the city and the public.

(Ord. No. 653 § 3, 11-5-13; Ord. No. 654, § 2, 12-3-13)

Section 2.74.010 shall not apply to leases of property acquired for park purposes; to leases for the purpose of producing mineral, oil, gas, or other hydrocarbon substances; nor to leases of tidelands or submerged lands or improvements thereon.

(Ord. No. 653 § 3, 11-5-13; Ord. No. 654, § 2, 12-3-13)