HomeMy Public PortalAboutAB 15-29 ARPT Hangar 526 Consent to Assignment Form
McCALL CITY COUNCIL 216 East Park Street
AGENDA BILL McCall, Idaho 83638
Number AB 15-29
Meeting Date February 26, 2015
AGENDA ITEM INFORMATION
SUBJECT:
Approval for Consent to Assignment of Lease for Hangar 526, Paige Walker
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:
Immediate
Information Systems
Grant Coordinator
SUMMARY STATEMENT:
Paige Walker, owner of Hangar 526, is coordinating use of this privately owned hangar as collateral through Idaho First Bank. Idaho First Bank has requested consideration for issuance
of a landowner’s consent to assignment for completion of this process. A landlord’s consent to assignment of a lease allows a lender, Idaho First Bank in this case, to step into the
position of the lessee should the lessee default or be in danger of defaulting upon the lease agreement for this hangar. In the scenario of a default, the lender then becomes the lessee
until the defect is cured, and the lender fulfills the terms of the lease agreement. The enclosed consent form was prepared by Idaho First Bank, signed by the lessee of Hangar 526
(Paige Walker), and has been reviewed by the City Attorney.
RECOMMENDED ACTION:
It is recommended that City Council approve the enclosed consent form and authorize the Mayor to sign any and all documents.
RECORD OF COUNCIL ACTION
MEETING DATE
ACTION