The City of Pompano Beach is hereby authorized and empowered to lease any lands, improvements, public buildings, recreational parks or facilities, public utility plants, or any public works or property of the city to any person, firm or corporation under the following conditions:
(a) Leases may be authorized by ordinance of the City Commission duly enacted by approval of a majority of the City Commission.
(b) Leases containing provisions requiring the lessee to construct building(s) and/or other capital improvements may be authorized for a period of time not exceeding fifty (50) years, including any renewal options contained therein. All other leases may be authorized for a period of time not exceeding ten (10) years, including any renewal options contained therein. Leases requiring lessees to construct building(s) and/or other capital improvements shall specify the dollar amount to be expended by the lessee for such building(s) and/or capital improvements and shall require that at the least fifty (50) per cent of such dollar amount shall be expended during the first two (2) years of the lease and that the remainder of such amount, if any, shall be expended during the second two (2) years of the lease.
(c) The City Attorney shall prepare all leases in accordance with Section 62 of the City Charter. All leases shall be for a definite period of time, shall be in writing, executed in duplicate, with one copy retained by the City of Pompano Beach. Such leases shall be signed by the officer of the city designated by Charter.
(Special Acts, Ch. 59-1763, § 16; Ref. of 3-9-76; Ord. No. 78-33, § 1, 2-28-78; Am. Ord. No. 2004-38, § 1, 4-27-04)