HomeMy Public PortalAboutAB 18-172 Hangar 542 Lease AssumptionMcCALL CITY COUNCIL 216 East Park Street
AGENDA BILL McCall, Idaho 83638
Number AB 18-172
Meeting Date June 28, 2018
AGENDA ITEM INFORMATION
SUBJECT:
Request to Approve the Assumption of the Lease for Hangar 542
Department Approvals
Initials
Originator
or
Supporter
Mayor / Council
City Manager
Clerk
Treasurer
Community Development
Police Department
Public Works
Golf Course
COST IMPACT:
N/A
Parks and Recreation
FUNDING SOURCE:
N/A
Airport
Originator
Library
TIMELINE:
N/A
Information Systems
Grant Coordinator
SUMMARY STATEMENT:
This lease assumption was previously approved at the May 24, 2018 Council meeting. Upon review of the signature page Mr. Vosburgh requested that Cynthia Bosburgh be removed from the
lease, additionally as the LLC is not registered in Idaho a personal guaranty was required on the lease. The corrected version is attached for signature.
The owner of Hangar 542, Tim Starkman is in the process of selling to 9g Enterprises, LLC represented by Robert Vosburgh, managing member. 9g Enterprises, LLC is seeking to assume the
lease for the hangar.
The purchaser has been provided with a copy of the current lease, current Airport Rules and Regulations, and Airport Minimum Standards. The annual lease rate increases from $0.283/sq
ft to $.30/sq ft for a 1512 sq. ft. leasehold ($453.60).
This hangar transaction is not required to be approved by the Airport Advisory Committee.
The City Clerk will record the document, and keep a copy for the City’s records. We have requested a $200 transaction fee as a part of this process. The assumption document is attached.
RECOMMENDED ACTION:
Approve the assumption of the Hangar 542 lease by 9g Enterprises, LLC, terminate Tim Starkman’s interest in the lease at time of closing, and authorize the Mayor to sign all necessary
documents.
RECORD OF COUNCIL ACTION
MEETING DATE
ACTION
May 24, 2018
Council approved lease