HomeMy Public PortalAboutAB 13-140 ARPT Hangar 705 Lindsay to C&H Hangar LLC
McCALL CITY COUNCIL 216 East Park Street
AGENDA BILL McCall, Idaho 83638
Number AB 13-140
Meeting Date August 22, 2013
AGENDA ITEM INFORMATION
SUBJECT:
Hangar 705 Lease Termination and Establishment of a New Lease
Department Approvals
Initials
Originator
or
Supporter
Mayor / Council
City Manager
Clerk
Treasurer
Community Development
Police Department
Public Works
Golf Course
COST IMPACT:
Parks and Recreation
FUNDING SOURCE:
Airport
/
Originator
Library
TIMELINE:
Information Systems
Grant Coordinator
SUMMARY STATEMENT:
The owner of Hangar 705 (known to Valley County as Hangar 714), Kasey Lindsay, has a sale pending and would like to request termination of the existing lease at the time of closing with
a subsequent request for establishment of a new lease to C & H Hangar LLC (Dan Coury and Allen Hoyt). The purchasers have been provided with a copy of the proposed lease, current Airport
Rules and Regulations, and Airport Minimum Standards. Dan Coury and Al Hoyt are both pilots, current hangar owners, and own/operate six aircraft among them. The existing lease was
entered into on May 9, 2003 for a period of 20 years and is renewable for up to four (4) additional five (5) year terms. The proposed new lease matches these terms stipulating a period
of 20 years and is renewable for up to four (4) additional five (5) year terms. The annual lease rate will be aligned to the current rate, $.35 per square foot for both covered area
and bare ground, resulting in an annual lease fee of $5,250.00 plus the annual CPI adjustment. Pending the Mayor’s approval and signature of the new lease, 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.
RECOMMENDED ACTION:
Approve termination of the existing lease of Hangar 705 (known to Valley County as Hangar 714) from Kasey Lindsay at the time of closing and subsequently approve the new lease for Hangar
705 to C & H Hangar LLC and authorize the Mayor to sign all necessary documents.
RECORD OF COUNCIL ACTION
MEETING DATE
ACTION