HomeMy Public PortalAboutAB 20-036 Hangar Lease Assumption H204McCALL CITY COUNCIL 216 East Park Street
AGENDA BILL McCall, Idaho 83638
Number AB 20-036
Meeting Date February 13, 2020
AGENDA ITEM INFORMATION
SUBJECT:
Request to Approve the Assumption of Hangar 204
Lease by the Shelby J. Edwards Living Trust dated
April 6, 2001, and Terminate the Interest of The
Hedge 2002 Revocable Family Trust at Time of
Closing
Department Approvals Initials
Originator
or
Supporter
Mayor / Council
City Manager
Clerk
Treasurer
Community Development
Police Department
Public Works
Golf Course
COST IMPACT: $200 transaction fee revenue Parks and Recreation
FUNDING
SOURCE:
Airport Originator
Library
TIMELINE: Information Systems
Grant Coordinator
SUMMARY STATEMENT:
The Hedge 2002 Revocable Family Trust (ASSIGNOR) requests to assign the lease of Hangar 204 to The
Shelby J. Edwards Living Trust dated April 6, 2001 (ASSIGNEE).
The Hangar 204 lease consists of 7,125 square feet – 4,125 sf of bare ground and 3,000 sf of covered ground.
Lease rates are $0.159 and $0.318 annually, per SF, respectively. The FY 2020 total lease payment of
$1,611.35 has been paid through September 30, 2020.
The purchaser has been provided with a copy of the current lease, current Airport Rules and Regulations,
and Airport Minimum Standards.
The City Clerk will record the document, and keep a copy for the City’s records. We have requested a $200
transaction fee as a part of this process. The assumption is attached.
RECOMMENDED ACTION:
Approve the Assumption of the Hangar 204 Lease by the Shelby J. Edwards Living Trust dated April 6,
2001 and terminate the interest of The Hedge 2002 Revocable Family Trust at time of closing and authorize
the Mayor to sign all necessary documents.
RECORD OF COUNCIL ACTION
MEETING DATE ACTION