5.10.120 Fair annual lease value.
(1) No lease shall be approved for less than the present fair annual lease value as set forth in the appraisal, except as follows:
(a) The lease is in the development period;
(b) The department is providing an incentive for business to locate on tribal trust lands, and must provide lease concessions, lease improvement credits, and lease abatements to attract such businesses; or
(c) The department determines such action is in the best interest of the tribe.
(2) A lease may be structured at a flat lease rate.
(3) A lease may be structured at a flat lease rate plus a percentage of gross receipts, if the lessee is a business located in a shopping center or mall, or the lessee generates over $1,000,000 annually in gross receipts.
(4) A lease may be structured based on a percentage of gross receipts, or based on a market indicator, as determined by the business council.
(5) Unless otherwise provided in the lease, payments may not be made or accepted more than one year in advance of the due date.
(6) The lease may provide for periodic review and such review may give consideration to the economic conditions, exclusive of improvement or development required by the contract or the contribution value of such improvements.
(7) Leases may be structured to allow for lease rate adjustments. The lease shall specify how adjustments will be made, who will make such adjustments, when adjustments will go into effect, and how disputes shall be resolved.
(8) Leases may be amended to allow for lease rate adjustments.
(9) The department shall keep written records of the basis used in determining the fair annual lease value, as well as the basis for adjustments. These records shall be presented to the lessee for its review and acceptance or nonacceptance and included in any lease file. [Ord. 05-31-2018-B § 2(22.03.070), 2018.]