$10,000 for prime waterfront??

[Carey]

The rent proposed, as the OP stated, IS PER YEAR, the article explains the low rent with this "Tower will pay rent to the State “beginning in year two of the lease (after a one-year rent waiver) in the amount of $10,000 per year, increasing to $20,000 per year in year 11 of the lease, and increasing to $30,000 per year-in year 21 of the lease,” the land board document says. “Although the rent is low for the first 30 years of the lease, it may tum out to be near market rent considering the extent oft he investment required to be made in the property.”"