Q May a municipality lease its surplus municipal facilities to entities engaging in for-profit activities and share in the profits?

A A municipality may permit, within its discretion, the use of its surplus property for commercial and/or profit-making ventures. While no authority exists for a municipality to participate in a profit-making venture with a private entity, a municipality may contract as part of the use agreement to receive a portion of the profits as compensation for use of the facility. This assumes that the municipality will at least receive an amount comparable to the fair market value of the use of the property. (Attorney General Opinion to Ringer, November 8, 2013)