HomeMy Public PortalAboutAB 20-192 Hangar 703 assumption
McCALL CITY COUNCIL 216 East Park Street
AGENDA BILL McCall, Idaho 83638
Number AB 20-192
Meeting Date July 9, 2020
AGENDA ITEM INFORMATION
SUBJECT:
Request Approval of the Assumption of Hangar 703 Lease by A3 Unlimited LLC dated September 1, 2002, and Terminate the Interest of Larry Carpenter 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:
Federal CARES Act
Airport
/
Originator
Library
TIMELINE:
4 years to expend funds
Information Systems
Grant Coordinator
SUMMARY STATEMENT:
Larry Carpenter (ASSIGNOR) requests to assign the lease of Hangar 703 to A3 Unlimited LLC, dated September 1, 2002 (ASSIGNEE).
The Hangar 703 lease consists of 7,250 sf of bare ground and 7,000 sf of covered ground. Lease rates for 2020 are $0.154 and $0.308 per square foot, annually. The FY 2020 total lease
payment of $3,277.07 has been paid through September 30, 2020.
The purchaser has been provided a copy of the current lease, current Airport Rules and Regulations, and Airport Minimum Standards.
The City Attorney has reviewed the assumption. The City Clerk will record the document and keep a copy for the City’s records. We have requested a $200 transaction fee as part of the
process. A copy of the assumption is attached.
RECOMMENDED ACTION:
Approval of the Assumption of Hangar 703 Lease by A3 Unlimited LLC dated September 1, 2002 and Terminate the Interest of Larry Carpenter at Time of Closing and authorize the Mayor to
sign all necessary documents.
RECORD OF COUNCIL ACTION
MEETING DATE
ACTION