The parcel is currently owned by the State of Rhode Island, Department of Environmental Management (“DEM”)and managed by DEM’s Division of Coastal Resources which manages some of the land for parking as well. This site is not available for purchase so the selected Respondent will have a lease-hold interest and not a fee interest in the property. The successful respondent to the RFP will enter into a lease agreement with the DEM, subject to approval by the State Properties Committee. The lease will be developed based on the nature and exact type of business proposed and subsequent discussions and negotiations between the State and the successful interested proposer. Subject to certain exceptions, Rhode Island General Law § 46-5-10 limits state land leases to a maximum of 20 years. Initial lease terms may be for less time and all lease terms are at the discretion and approvals of the DEM. A copy of the standard terms and conditions for leases is included in “Exhibit C” of this document.
