WINDOW ROCK, Ariz. — Navajo Nation President Nygren has approved a new Business Site Lease (BSL) agreement for Silver Coin, Inc., supporting continued economic development and local business investment in Chinle, Arizona. The lease authorizes the continued operation and future expansion of a long-standing business located on approximately 2.05 acres along Navajo Route 7, ensuring services remain available for residents while creating opportunities for future growth.
Silver Coin, Inc., owned by Ricky and Donna Powell, currently operates the only carwash in Chinle and will continue providing essential community services, including a laundry facility, carwash, food sales, video rental, and rental units. The lease carries an initial 25-year term with two optional 25-year renewal periods, allowing for long-term business stability and investment. As part of the agreement, the company has committed to investing at least $150,000 in property improvements within the first two years, including electrical upgrades, interior renovations, and parking lot resurfacing.
The Business Site Lease was reviewed and unanimously approved by the Division of Economic Development Business Site Lease Approving Committee before being presented for presidential approval. The agreement also requires compliance with Navajo Nation Business Site Leasing Regulations, environmental standards, insurance requirements, and Navajo preference in employment and contracting, helping ensure the project benefits both the local economy and the Navajo people.
“Supporting responsible business development is one of the best ways we can strengthen our communities and create lasting economic opportunities,” said President Buu Nygren. “This lease represents an investment in Chinle’s future by encouraging private investment, improving essential services, and supporting jobs while ensuring development is carried out in a way that benefits both the Navajo Nation and the people of Chinle.”
The approval reflects the Navajo Nation’s continued commitment to fostering economic growth through strategic partnerships with businesses that invest in local communities. By providing a stable framework for long-term development, the Business Site Lease will help enhance commercial activity, improve services for residents and visitors, and contribute to the long-term prosperity of Chinle and the Navajo Nation.
