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Rent increases at Anchorage legislative office

By Associated Press 10:59 AM December 23, 2013

The state has entered into a 10-year, no-bid agreement with developing Mark Pfeffer for the downtown Anchorage location

ANCHORAGE  - The rent for the Anchorage Legislative Office will increase five-fold once renovations are complete.

The state has entered into a 10-year, no-bid agreement with developing Mark Pfeffer for the downtown Anchorage location. The Anchorage Daily News reports (http://is.gd/i7mDVn) the rent will be $3.4 million a year, and Anchorage brokers, developers and others in real estate said there were properties in midtown – some in new buildings – that would be cheaper.

State Rep. Mike Hawker, an Anchorage Republican, negotiated the lease. He has said there was simply no other property that could offer a competing proposal, and time was short.

State Rep. Bill Stoltze, a Chugiak Republican, said he mistakenly assumed the Legislative Council would be able to sign off on any deal. He says he now has “renter’s remorse.”

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Information from: Anchorage (Alaska) Daily News, http://www.adn.com

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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