The State of Alaska, Department of Transportation and Public Facilities (DOT&PF), is proposing to execute a land lease under Lease ADA-32699 for the construction and operation of a hotel and associated food and beverage services at Ted Stevens Anchorage International Airport. The lease term is 55 years, and the annual rent will be Fair Market Value plus applicable concession fees and other airport fees. The premises consist of approximately 110,642 square feet, located in Block 2, Lot 9. • The lease is for a hotel and food and beverage construction and operation • The lease term is 55 years • The annual rent is Fair Market Value plus applicable concession fees and other airport fees • The premises consist of approximately 110,642 square feet • The lease is subject to correction of technical defects and rejection of applications in the best interests of the Department