In the 18th Assembly, departments were tasked to find revenue or cut costs. The department realized that lease fees had not been addressed over 20 years. They used a cost-of-living index calculation, as well. As well, they were trying to align both territorial and Commissioner's land. Fees for exclusive use of land were increased at the beginning, in April 2018, almost after 20 years for no increases. Lease rent minimums have been set at $840 for all types of leases. Lease rent changes are being implemented through a phased approach. Lease rents will increase at the current rate until a lease comes up for renewal, or a lease comes up for a five-year renewal, or upon issuance of a new lease. Lessees can arrange payment for the rent in installments by making appropriate arrangements with the Department of Finance.
Shane Thompson on Question 451-19(2): Land Leases
In the Legislative Assembly on November 3rd, 2020. See this statement in context.
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