Enhanced Use Leasing
Abstract
Enhanced Use Leasing (EUL) is part of a legislative authorization for military departments to lease underutilized real property, governed by Section 2667 Title 10 United States Code. The term 'enhanced' was added as part of a 2001 amendment from Section 2812 of R.R. 5408, the Floyd D. Spence National Defense Authorization Act for Fiscal Year 2001 and enacted into Public Law 106-398. The major changes made in this amendment expand the categories of consideration received in exchange for a lease as well as expanding the potential properties for which enhanced use leasing may apply. The new law still requires the lessee to pay, in cash or in-kind, consideration in an amount that is not less than the fair market value of the lease interest. However, the categories of in-kind consideration that may be accepted in lieu of cash are expanded to include construction of new facilities, restoration (including environmental), acquisition, alteration, and other services. Further, the Service Secretary may now accept in-kind consideration for any property or facility under the control of that Service, rather than just at the installation where the property was leased. Cash consideration is now available for an expanded variety of base operating support functions including construction or acquisition of new facilities, restoration (including environmental), lease of facilities, facilities operation support, improvement, alteration and other services.
Document Details
- Document Type
- Technical Report
- Publication Date
- Jun 01, 2002
- Accession Number
- ADA405674
Entities
People
- Sandra L. Vann-olejasz
- William K. Klimack
Organizations
- United States Military Academy