HomeMy Public PortalAboutAB 10-275 Hangar 707 AssignmentMcCALL CITY COUNCIL
AGENDA BILL
Number
Meeting Date
AB 10-275
December 16, 2010
216 East Park Street
McCall, Idaho 83638
AGENDA ITEM INFORMATION
SUBJECT:
Hangar 707 Lease Assignment
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: ASAP
City Attorney
Grant Coordinator
SUMMARY STATEMENT:
The attached lease assignment
707 is Parcel 12 at the McCall
in the hangar. This is a Non
The attached lease assignment
that was approved for use
previous hangar transfers.
transaction to close by the
negative consequences for
chance that this transaction
The process set up in the
assignment information come
the Airport Manager takes
December 15, we did not
City Council. The Airport
meeting would recommend
The present lease fee is $2,368.36
based upon the present lease
Burden and Benefit of Assignment.
from Kris E. Cox requests an assignment
of the lease to Sherman
McCall homeowner, and
Group, LLC, and is the
to actions taken by City
and the purchaser all who
if the real estate sale falls
less revenue.
year's end.
Commercial Aviation Activities
it to the Airport Advisory
notified about this until late
AAC meeting for their
this information and
assumption will change
as per paragraph 37
14 years remaining with 4
Group, LLC. Hangar
will house his Merlin
same base document
Council regarding
need this real estate
through there will be
There is a significant
has the lease
Committee, and then
on the afternoon of
recommendation to
if we were to hold a
to $5,250 per annum
of the lease agreement,
five year options, for
Airport. The purchaser is a long-time
Commercial Aviation hangar lease.
transfers the ownership to the Sherman
with Hangar 707. This transfer is similar
In this case we have a bank, the seller,
end of this calendar year. Additionally,
the seller and the airport will receive significantly
will fall through if it is not completed by
City Resolution for Minimum Standards for
to the Airport Manager, who presents
it to City Council. Because we were not
have time to properly notice a non emergency
Advisory Committee has individually received
it to City Council for approval.
per annum and upon approval of this
rate of $0.35 cents per square foot per annum
The original lease agreement has
a total of 34 years.
RECOMMENDED ACTION:
Approve the lease assignment and authorize the Mayor to sign all necessary documents.
RECORD OF COUNCIL ACTION
MEETING DATE
ACTION