Opportunity
Alaska Online Public Notices #ADL 39877
Alaska DNR authorizes a 25-year renewal lease for the Alaska Fun Center site
Posted
October 30, 2026
Identifier
ADL 39877
The State of Alaska is authorizing continued use of a Fairbanks parcel through a long-term lease renewal for the Alaska Fun Center site. - Government buyer: Alaska Department of Natural Resources (DNR), Division of Mining, Land & Water, Northern Regional Lands Office. - Leaseholders: Gabriele and William Larry; one attachment refers to the leaseholders as Gabriele and Larry Williams. - Property and use: Approximately 0.688 acres of state-owned land in Fairbanks, associated with continued operation of the Alaska Fun Center, described as a licensed motorsports dealership. The property excludes College Road Right-of-Way Parcel 52 and is subject to existing rights and public-access easements. - Authorized services: A 25-year lease renewal under ADL 39877 and a separate entry authorization allowing interim use while a required rental appraisal is obtained. - Fees and requirements: The interim annual use fee is $3,958.74, subject to adjustment based on an approved fair-market-value appraisal. The lease requires an approved development plan, insurance, and a $30,000 performance guaranty; the guaranty is temporarily waived while the land-sale application is pending. - Operating conditions: Rent is subject to reappraisal beginning in the sixth lease year and every five years thereafter. Requirements also address hazardous materials, including fuel and waste oil. - OEMs and products: No OEMs, commercial vendors, manufactured products, or product quantities are identified.
Description
The Alaska Department of Natural Resources issued a decision authorizing a 25-year renewal lease to the current leaseholders for a 0.688-acre state parcel at 1817 College Road in Fairbanks. The parcel is used for operation of the Alaska Fun Center. The lease renewal runs from November 17, 2026, through November 16, 2051, and is subject to lease terms and stipulations, including appraisal and insurance requirements. The notice identifies Gabriele and William Larry as the applicants and current leaseholders.