CSSB 178(FIN): "An Act stating legislative intent regarding parking, maintenance, leasing, and other requirements for a certain building acquired by the state in downtown Anchorage; giving notice of and approving a lease-purchase agreement by the Department of Administration for an office building in Anchorage; relating to the financing of the lease-purchase agreement; and providing for an effective date."
00CS FOR SENATE BILL NO. 178(FIN) 01 "An Act stating legislative intent regarding parking, maintenance, leasing, and 02 other requirements for a certain building acquired by the state in downtown 03 Anchorage; giving notice of and approving a lease-purchase agreement by the 04 Department of Administration for an office building in Anchorage; relating to the 05 financing of the lease-purchase agreement; and providing for an effective date." 06 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 07 * Section 1. LEGISLATIVE INTENT. (a) It is the intent of the legislature that 08 (1) after the lease-purchase agreement that is the subject of sec. 2 of this Act 09 is entered into, the building that is the subject of that agreement will continue to be 10 maintained in compliance with existing leases; 11 (2) the leases existing in the building when the agreement is entered into under 12 sec. 2 of this Act will be honored in accordance with their terms, including any renewal 13 options and parking as indicated under (5) of this section, but the state may not enter into new 14 leases for space in the building or offer existing tenants more space in the building if the new
01 leases or additional space might conflict with the state's ultimate goal of fully occupying the 02 building with tenants from state government; 03 (3) if there are opportunities to accommodate the needs of existing tenants 04 during the transition to the ultimate occupancy goal, the state will work with the existing 05 tenants of the building to accommodate their needs to the extent feasible without jeopardizing 06 the ultimate occupancy goal; 07 (4) the state provide at least 40 free parking spaces for public access to state 08 offices in the building, that the parking spaces be located in an area that provides a gate or 09 other method to control motor vehicle entry into the area and that if the parking spaces are 10 not located in the office building, they must be located as close as possible to the building and 11 managed to maximize public access to state offices; 12 (5) to the extent existing parking is provided under existing tenant leases, the 13 state will abide by those parking agreements, and, if opportunities exist during the transition 14 to the ultimate occupancy goal to accommodate additional tenant parking needs without 15 jeopardizing the ultimate occupancy goal, the state will work with tenants on a case-by-case 16 basis to accommodate these needs. 17 (b) In this section, 18 (1) "agreement" means the lease-purchase agreement that is authorized under 19 sec. 2 of this Act; 20 (2) "building" means the Bank of America building that is located in downtown 21 Anchorage and that is the subject of the lease-purchase agreement under sec. 2 of this Act; 22 (3) "ultimate occupancy goal" means the state's ultimate goal of fully 23 occupying the building with tenants from state government. 24 * Sec. 2. NOTICE AND APPROVAL OF LEASE-PURCHASE AGREEMENT. The 25 Department of Administration is authorized to enter into a lease-purchase agreement to acquire 26 an office building in Anchorage, Alaska. The state bond committee created under 27 AS 37.15.110 shall oversee the financing and is authorized to provide for issuance of 28 certificates of participation for the lease-purchase agreement. The total construction, 29 acquisition, and other costs of the project shall be less than $38,950,000. The annual amount 30 of the rental obligation shall be less than $4,070,000. The total lease payments for the full 31 term of the agreement shall be less than $81,400,000. The state shall own the office building
01 at the end of the lease term. This section constitutes the notice and approval required by 02 AS 36.30.085. 03 * Sec. 3. This Act takes effect immediately under AS 01.10.070(c).