HomeMy Public PortalAboutAB 14-134 ARPT Hangar 208 Lease Split - McNair & Jackson
McCALL CITY COUNCIL 216 East Park Street
AGENDA BILL McCall, Idaho 83638
Number AB 14-134
Meeting Date July 10, 2014
AGENDA ITEM INFORMATION
SUBJECT:
Hangar 208 Lease Amendment and Establishment of New Lease
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:
n/a
Information Systems
Grant Coordinator
SUMMARY STATEMENT:
The owner of Hangar 208B, Marvin May, has a sale pending and would like to request removal of interest, through amendment, from an existing lease which is shared with the owner of Hangar
208A, Hugh McNair. Subsequently, the purchaser of Marvin May’s hangar, Jackson Foods, Inc., has requested establishment of a new lease at the time of closing. The end result of this
transaction would split the existing lease into two separate leases for each individual hangar and owner. The purchaser has been provided with a copy of the proposed lease, current
Airport Rules and Regulations, and Airport Minimum Standards. The existing lease was entered into on August 30, 1993, 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 initial annual lease fee of $4,987.50 subject to annual CPI adjustments.
Pending the Mayor’s approval and signature of the new lease and lease amendment, the City Clerk will record the documents, 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 the amendment of existing lease for Hangar 208 to remove Marvin May’s interest in the facility, and approve establishment of a new lease for Hangar 208B to Jackson Foods, Inc.,
and authorize the Mayor to sign all necessary documents.
RECORD OF COUNCIL ACTION
MEETING DATE
ACTION