Legislature(2011 - 2012)BELTZ 105 (TSBldg)
04/05/2012 03:30 PM Senate COMMUNITY & REGIONAL AFFAIRS
Audio | Topic |
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Start | |
HB314 | |
HB9 | |
Adjourn |
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
= | HB 9 | ||
+ | HB 264 | TELECONFERENCED | |
+ | HB 314 | TELECONFERENCED | |
+ | TELECONFERENCED |
HB 314-ALASKA RAILROAD LAND LEASES 4:09:52 PM CHAIR OLSON announced the consideration of HB 314. 4:10:06 PM ANNA LATHAM, Staff for Representative Kurt Olson, Alaska State Legislature, said HB 314 would extend the time period for which the Alaska Railroad Corporation (ARC) may lease land without reserving the right to terminate the lease. She said the bill would extend the maximum ARC property lease terms from 55 years to 95 years. She said railroads have historically owned large parcels of land which they lease to generate revenue. She said ARC owned approximately 36,000 acres with 260 long-term leases accounting for 2,000 leased acres. She said out of the 36,000 acres, 38 percent of the land was devoted to right-of-way, 12 percent was used for operations and the remaining 50 percent was available for lease. She said ARC was a state owned entity with an economic mandate for statewide development and longer lease terms would be in line with that directive. She said longer leases would encourage high value building construction by assuring developers and financers that developments would retain their value for future buyers. She said standard leases would not be 95 years and extending terms was at the discretion of the ARC board of directors. She said HB 314 had received wide spread support from lease holders and multiple municipalities, such as Anchorage, Valdez, Seward and Whittier. 4:12:40 PM JIM KUBITZ, Vice President, Real Estate and Facilities, Alaska Railroad Corporation, said he had no comments and was available to answer questions. 4:12:55 PM CHAIR OLSON said HB 314 would be set aside.
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