HomeMy Public PortalAboutAB 09-080 May 14 Lease ConsentsMcCALL CITY COUNCIL
AGENDA BILL
Number
Meeting Date
216 East Park Street
McCall, ID 83638
AB 09-80
May 14, 2009
AGENDA ITEM INFORMATION
SUBJECT:
Consent to Assignment of Lease;
Hangar 562, Steve Minor, McCall Craftsman Homes,
Hangar 105 Michael & Leslie Dorris,
Hangar 707 Kris Cox ,
Lender Idaho First Bank
Approvals: Department/
Committee/Individual
Initials
Remarks
(Originator/
Support)
Mayor /Council
rManager
Airport
City Clerk, Deputy Clerk
Community Development
Grant Coordinator
Golf Operations
Library
Parks
COST IMPACT: None
Police Department
Public Works
FUNDING SOURCE: NA
Recreation
Treasurer
TIMELINE: Immediate
City Attorney
Other
SUMMARY STATEMENT:
There are three separate lenders' consents being consider, all with Idaho First Bank as the lender, and all
using a consent form that has previously been approved by our City Attorney. A landlord's consent to
assignment of lease allows a lender, Idaho First Bank in this case; to step into the position of the lessee
should the lessee be in danger of defaulting or default upon the lease agreement. The lender becomes the
lessee until the defect is cured, and the lender fulfils the terms of the lease agreement. The basic consent
has been reviewed by the City Attorney. In this case, Minor and Cox, are refinancing, and Dorris is doing
original financing.
RECOMMENDED ACTION:
Approve the consent documents and authorize the Mayor to sign any and all documents.
RECORD OF COUNCIL ACTION
Meeting Date
ACTION