HomeMy Public PortalAboutAB 12-195 Hangar Lease Transfer Collins to Weiss
McCALL CITY COUNCIL 216 East Park Street
AGENDA BILL McCall, Idaho 83638
Number AB12-195
Meeting Date October 11, 2012
AGENDA ITEM INFORMATION
SUBJECT:
Hangar 701 Lease Assignment
Department Approvals
Initials
Originator
or
Supporter
Mayor / Council
City Manager
Clerk
Treasurer
Community Development
Police Department
Public Works
Golf Course
COST IMPACT:
n/a
Parks and Recreation
FUNDING SOURCE:
n/a
Airport
Originator
Library
TIMELINE:
ASAP
Information Systems
Grant Coordinator
SUMMARY STATEMENT:
The owner of Hangar 701 has sold, and the seller has requested that we assign the lease to the purchaser. The purchaser does not presently own an aircraft but is in the process of shopping
for one. Michael Weiss, the purchaser is a CFII, or Certified Flight Instructor. He has been given a copy of the lease, the current airport rules and regulations, and minimum standards.
The lease, a copy of which is attached, was entered into 15 February 1995 for a period of 20 years and is renewable within that time for an additional 20 years. Under the current lease
rate structure with all land for new leases valued at $0.361 per square foot per annum, the annual lease fee will go from $2,5467.61 to $5,144.25. The lease assignment has been signed
by the seller and the purchaser and the signatures have been notarized and are attached. After the Mayor signs the assignment, the City Clerk will record the document, and keep a copy
for our files. We have requested a $200 transaction fee. The lease terms remain unchanged as this is not a new lease.
RECOMMENDED ACTION:
Approve the lease assignment of Hangar 701 from Collins to Weiss and authorize the Mayor to sign all necessary documents.
RECORD OF COUNCIL ACTION
MEETING DATE
ACTION