City and Borough of Juneau Assembly Meeting Agenda February 2026
Long-Term Tidelands Lease Negotiation with Petro 49
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Description
The Assembly is considering Ordinance 2026-09 to authorize the Port Director to negotiate and execute a 35-year waterfront tidelands lease of ATS 857 with Petro 49, Inc., with an option for an additional 35-year term. Rent will be set at not less than appraised fair market value and paid monthly for continued waterfront commercial activity.
Contract Details
Vendor
PETRO 49 INC
Agency
Juneau International Airport Board, AK
Contract Type
FACILITIES
Document Date
February 9, 2026
Contract Term
35 years with option for one additional lease up to 35 years
Renewal Info
Initial lease term of 35 years with an option, by mutual agreement and subsequent ordinance, to execute one additional lease for up to 35 years; includes annual rent based on appraised fair market value.
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