HomeMy Public PortalAbout1994_02_22_R036The Town of
Leesburg,
.rg ma
RESOLUTION NO.
A RESOLUTION:
94-36
PRESENTED February 22, 1994
ADOPTED February 22, 1994
AMENDING TOWN OF LEESBURG RESOLUTION NO. 93-167
AUTHORIZING AN AMENDMENT OF THE AIRPORT LAND LEASE
BETWEEN THE TOWN OF LEESBURG AND AEROVEST, INC.
WHEREAS, on August 10, 1993, the Town Council authorized an amendment of the airport land
lease between the Town of Leesburg and Aerovest, Inc, to allow Aerovest a four year extension to
construct additional hangar and office space, via the adoption of Resolution No. 93-167; and
WHEREAS, this lease amendment as authorized was prepared for execution; and
WHEREAS, Aerovest paid to the town the required compensation for the first year of the above
lease extension; however, an additional amendment of the lease was requested prior to formal execution
of the lease; and
WHEREAS, the additional proposed amendment regards Article III, Section 1 which provides
for a complex calculation of potential additional rent commencing January 1, 1994; and
WHEREAS, in lieu of this calculation, a set annual amount of $25.00 for the balance of the lease
term is recommended by Aerovest, staff and the Airport Commission.
THEREFORE, RESOLVED by the Council of the Town of Leesburg in Virginia as follows:
Resolution No. 93-167 is hereby amended to allow the modification of Article III, Section 1 of
the Aerovest lease to replace the existing formula with a set annual amount of $25.00 for the balance of
the lease period.
PASSED this
22nd day of February , 1994.
ATTEST:
Clerk of Council
Town of Leesburg