HomeMy Public PortalAboutAB 23-246 Request to Assign the Lease for Hangar 608 From Shepp Ranch, LLC to Peak Aviation, LLCMcCALL CITY COUNCIL 216 East Park Street
AGENDA BILL McCall, Idaho 83638
Number AB 23-246
Meeting Date December 28, 2023
AGENDA ITEM INFORMATION
SUBJECT:
Request to Assign the Lease for Hangar 608 from Shepp Ranch, LLC to Peak Aviation, LLC
Department Approvals
Initials
Originator
or
Supporter
Mayor / Council
City Manager
/
Clerk
Treasurer
Community Development
Police Department
Public Works
Golf Course
COST IMPACT:
$50.00
Parks and Recreation
FUNDING SOURCE:
Airport
Originator
Library
TIMELINE:
December 28, 2023
Information Systems
Grant Coordinator
SUMMARY STATEMENT:
Shepp Ranch, LLC has been the lessee of Hangar 608 since March 24, 2020. Shepp Ranch, LLC would like to assign the lease for Hangar 608 to Peak Aviation, LLC. The lease rate will remain
based at the original $0.30/square foot for 11,250 square feet, adjusted to $0.347/square foot for CPI for a total of $5,197.00 in FY23. The rate will adjust per CPI annually.
This hangar lease assumption has been reviewed by the City Attorney.
Attachments: Hangar 608 Lease Assumption; Certificate of Organization, Peak Aviation; 2020.02.24 Hangar 608 Survey; 2020.03.24 Hangar 608 Lease – Shepp Ranch LLC
RECOMMENDED ACTION:
Approve assignment and assumption of lease for Hangar 608 from Shepp Ranch, LLC to Peak Aviation, LLC, and authorize the Mayor to sign all necessary documents.
RECORD OF COUNCIL ACTION
MEETING DATE
ACTION
February 27, 2020
AB 20-054 Request to Approve a New Lease for Hangar 608 for Shepp Ranch, LLC and Terminate the Existing Hangar 608 Lease for James L. Mullet and Cynthia C. Mullet