TWP CD-LEASE SURPLUS REALTY

Amends the Township Code. Provides that if the township board of any township determines that any real estate acquired by or held by the township is no longer necessary, appropriate, required, or profitable for the township or that leasing the real estate is in the best interest of the township, the township board may pass an ordinance authorizing the township to lease the real estate for a term not to exceed 40 years. Provides that passage of the ordinance requires the affirmative vote of three-fourths of the members of the township board. Requires the township board to give notice of the proposed ordinance and sets forth notice requirements. Authorizes the township board to negotiate the consideration and terms of the lease and to contract with the lessee for the use of a portion of any structure or improvement to be constructed on the real estate.