14 U.S.C. § 672 : US Code - Section 672: Long-term lease of special purpose facilities

Search 14 U.S.C. § 672 : US Code - Section 672: Long-term lease of special purpose facilities

(a) The Secretary is authorized, subject to the availability of
appropriations, to enter into lease agreements to acquire real
property or interests therein for a term not to exceed 20 years,
inclusive of any automatic renewal clauses, for special purpose
facilities, including, aids to navigation (hereafter in this
section referred to as "ATON") sites, vessel traffic service
(hereafter in this section referred to as "VTS") sensor sites, or
National Distress System (hereafter in this section referred to as
"NDS") high level antenna sites. These lease agreements shall
include cancellation and termination provisions to the extent
necessary to protect the best interests of the United States.
Cancellation payment provisions may include consideration of both
recurring and nonrecurring costs associated with the real property
interests under the contract. These lease agreements may provide
for a cancellation payment to be made. Amounts that were originally
obligated for the cost of the contract may be used for cancellation
or termination costs.
(b) For purposes of this section, the term "special purpose
facilities" means any facilities used to carry out Coast Guard
aviation, maritime, or navigation missions other than general
purpose office and storage space facilities.
(c) In the case of ATON, VTS, or NDS sites, the Secretary may
enter into multiyear lease agreements under subsection (a) of this
section whenever the Secretary finds that -
(1) the use of such a lease agreement will promote the
efficiency of the ATON, VTS, or NDS programs and will result in
reduced total costs under the agreement;
(2) the minimum need for the real property or interest therein
to be leased is expected to remain substantially unchanged during
the contemplated lease period; and
(3) the estimates of both the cost of the lease and the
anticipated cost avoidance through the use of a multiyear lease
are realistic.