recreational lease

recreational lease

(1) Separate ownership of recreational facilities at a condominium project or planned unit development, with the owner leasing their use to the residents. (2) Leasing of land for recreational purposes such as hunting, fishing, snow sports, and motor sports. It is a method of keeping land largely natural and still enjoying some sort of income.

References in periodicals archive ?
Plum Creek's primary business is timber and with the WMAs that doesn't change," said Donald Wood, Plum Creek's Recreational Lease Manager.
The new model act would extend recreational lease coverage to nonprofit organizations and allow tax abatement as an incentive.
On direct land grants to private sports clubs at nil or nominal premium, the Administration started the private recreational lease policy review in September 2013.
The Home Affairs Bureau will take the lead in conducting the private recreational lease policy review from a sports policy perspective and will involve other concerned policy bureaux and departments as necessary.
In reviewing the private recreational lease policy, we will take into account factors such as sports development needs, land use, site and facilities utilisation, the interests of the lessees and their members, and the wider public interest.
In the course of the review, we will also consider how to ensure an appropriate apportionment of sports and non-sports facilities on private recreational lease sites.
Under the decision, Skokie will sign a Recreational Lease with ComEd for the use of its property for 2 decades with renewal provisions.
The fiber resources segment includes the sale of wood fiber and management of our recreational leases.
TNC pledged that, while a strategic plan for the future of the Finch land tract is being formulated, all private recreational leases will continue to be renewed on an annual basis.
Franchisees develop and manage recreational leases on private land, creating new income for landowners and new hunting opportunities for the sportsmen.
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