City of Longmont Allow for 30 Year Leases Ballot Question 3D
Charter Amendment to Allow for 30 Year LeasesShall the City of Longmont Home Rule Charter be amended by revising Section 12.4 of the Charter to allow for leases of city property up to 30 years? Major Provisions Referred to the voters by City Council, the proposal is to amend the City Charter so that the term of leases on city-owned property can be up to 30 years. BackgroundAs required by the city’s charter, this ballot question has been referred to the voters by City Council. The proposal would expand the term of leases of city property from 20 years 30 years. Although voted down last year, the proposal has acquired greater support in the community. The proposal has the support of City Council, the Longmont Chamber of Commerce, the Longmont Downtown Development Authority, and the Longmont Economic Development Partnership.
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Yes - For the Measure
No - Against the Measure
• City services are often provided more cheaply by private business, such as solar farms to provide low-cost solar energy; arts centers for the development of local talent and for the attraction of visitors to the city (who invariably use local commercial businesses); and affordable housing for the average worker in Longmont who cannot afford a home in the city – firefighters, policemen, medical technicians, and teachers are a few examples.
• The term-of-lease should be as long as the bank loan; in most cases 30 years. Nationally, the typical term-of-lease rates are now running 30–50 years. These rates, over a longer term, can turn a struggling business into a thriving one.
• The proposal involves management of assets at no cost to taxpayers. A 30-year lease is more attractive to businesses, so that city property is less likely to stand empty, a financial loss for the city.
• A 20-year lease yields greater profit for the city, due to more recent turn-over. A decade extension of a lease on city-owned property could adversely affect the city’s financial position.
• A revision or the amendment to the City Charter opens the prospect of further revisions of Longmont’s basic governing document by the less stringent process of popular petitions.
• This measure is a pro-business giveaway.
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