(1) There is established at Orting, Pierce county, an institution which shall be known as the Washington soldiers' home.

(2) The department is authorized to work with public or private entities on projects to make the best use of the soldiers' home property and facilities. These projects may include, but are not limited to, the renovation and long-term lease of the Garfield barracks building on the soldiers' home campus.

(3) All long-term leases of the soldiers' home property shall be subject to the requirements of RCW 43.82.010, except that such leases may run for up to seventy-five years.