HomeMy Public PortalAboutAB 21-196 Hangar 523 Lease CleanupMcCALL CITY COUNCIL 216 East Park Street
AGENDA BILL McCall, Idaho 83638
Number AB 21-196
Meeting Date July 22, 2021
AGENDA ITEM INFORMATION
SUBJECT:
Request Approval of Hangar 523 Lease Terminations for Hafenfeld and SEICO
Department Approvals
Initials
Originator
or
Supporter
Mayor / Council
City Manager
Clerk
Originator
Treasurer
Community Development
Police Department
Public Works
Golf Course
COST IMPACT:
Parks and Recreation
FUNDING SOURCE:
Airport
Library
TIMELINE:
Information Systems
Grant Coordinator
SUMMARY STATEMENT: At the June 24, 2021 Council Meeting, Council approved a lease termination and new lease for Hangar 523. Richard A. Bush and Pamela S. Bush are purchased Hangar
523 from SEICO, LLC and are requesting a new lease for Hangar 523 and to terminate the existing lease with Bruce A. & Sylvia J. Hafenfeld. When the lease went to title it was identified
that some errors had occurred over time and some documents are needed to clean up those issues.
This is the timeline and issues:
2014 SEICO Purchased Hangar 523
2016 Hafenfeld purchased the hangar from SEICO.
2016 An error was made in that there was a lease assumption and then a new lease (Hafenfeld), instead of a lease termination (SEICO) and then a new lease (Hafenfeld).
To add to the issue, the lease assumption has SEICO as the assignee and should have been the assignor, and now is showing as a Title Exception.
On June 24th a lease termination (SEICO) and new lease (Bush) was approved by the Council
There should have been a Lease Termination for both SEICO and Hafenfeld
The documents to correct the issues are attached, lease terminations for Hafenfelds and SEICO. The New Lease for Richard A. Bush and Pamela S. Bush was properly presented and approved
at the June 24th Council Meeting.
RECOMMENDED ACTION:
Approve of Hangar 523 Lease Terminations for Hafenfeld and SEICO and authorize the Mayor to sign all necessary documents.
RECORD OF COUNCIL ACTION
MEETING DATE
ACTION