HomeMy Public PortalAboutAB 14-43 ARPT Hangar 102 - Aviation Properties LLC
McCALL CITY COUNCIL 216 East Park Street
AGENDA BILL McCall, Idaho 83638
Number AB 14-43
Meeting Date March 13, 2014
AGENDA ITEM INFORMATION
SUBJECT:
Commercial Hangar 102 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 102, Aviation Properties LLC (Dan Scott), has requested agreement for termination of the existing lease and entrance into a new commercial lease for this hangar.
The existing lease was assigned to Aviation Properties LLC in 2010 and has 13 years remaining on the lease term. To satisfy lender requirements for refinancing, a term with no less
than 25 years has been requested by Mr. Scott.
Mr. Scott has requested the City’s consideration for entrance into a lease that mirrors the existing FBO lease for Hangar 103 with regard to lease term and rental rates. A memorandum
providing additional supporting information for this lease proposal and potential benefits to the City has been included with draft lease documents for review by Council.
Pending approval by Council, the City will receive a pro-rated lease payment in the amount of $2,450.60 upon execution of this agreement. The city has requested an additional payment
from Mr. Scott in the amount of $187.50 as a shared cost for procurement of a new legal description and parcel depiction to replace an inadequate parcel depiction within the existing
lease for this hangar.
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.
RECOMMENDED ACTION:
Approve termination of the existing lease of Commercial Hangar 102 by and between Aviation Properties LLC and the City of McCall, and subsequently approve the new lease for Hangar 102
to Aviation Properties LLC and authorize the Mayor to sign all necessary documents.
RECORD OF COUNCIL ACTION
MEETING DATE
ACTION