PUBLIC CONTRACTS: Removes the twenty-year limitation for the lease of certain state property in Orleans Parish by the Office Facilities Corporation. (gov sig) (EN NO IMPACT See Note)

This bill amends state law to remove a 20-year lease limit for the Office Facilities Corporation on certain properties in New Orleans, allowing longer-term agreements with state agencies. It directly affects the Office Facilities Corporation, which manages state-owned real estate, and various state agencies that may lease space in the New Orleans Centre property. The legislation permits leases or subleases of up to 20 years for specific buildings including the former Dominion Tower and New Orleans Shopping Centre, provided the lease agreement with the property owner is finalized before July 1, 2010. Any such lease must receive prior approval from the Joint Legislative Committee on the Budget before it can be executed.