Recommendation to Lease Trust Land at Less than Fair Market Value to Volunteers of America Alaska

The Alaska Mental Health Trust Authority is considering a 10-year lease of trust land to Volunteers of America Alaska at a rate below fair market value. The lease is for a property located at 2600 Cordova Street, Anchorage, Alaska, and the starting lease rent will be $3,266 per year. The authority is seeking comments on this proposal, which can be submitted in writing to the authority's office or via email. • The lease is for a 10-year period. • The starting lease rent is $3,266 per year. • The annual fair market rent for the property is $326,586. • The uncompensated use of trust land over the 10-year lease is estimated to be at least $3,233,200. • Comments on the proposal must be submitted by 4:30 PM, September 16, 2026.