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Consider approving the form of the proposed Airport Ground Lease Agreement for private hangars to be executed with 20 separate tenants, covering 35 existing hangars at the Nut Tree Airport, with a 10-year initial term commencing January 1, 2026, one successive 10-year extension option, and an initial rent of $1.02 per square foot per year with 3% annual increases; Authorize the Airport Manager, with concurrence of the County Administrator and County Counsel, to finalize lease negotiations with the tenants, including revisions deemed necessary and appropriate by County Counsel; Authorize the Airport Manager to execute all Ground Lease Agreements and any subsequent modifications or amendments, with County Counsel concurrence; and Authorize the Airport Manager to take all actions necessary to administer and implement the lease agreements
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Published Notice Required? Yes ____ No _X _
Public Hearing Required? Yes ____ No _X _
DEPARTMENTAL RECOMMENDATION:
The Department of General Services recommends that the Board of Supervisors:
1. Consider approving the form of the proposed Airport Ground Lease Agreement for private hangars to be executed with 20 separate tenants, covering 35 existing hangars at the Nut Tree Airport, with a 10-year initial term commencing January 1, 2026, one successive 10-year extension option, and an initial rent of $1.02 per square foot per year with 3% annual increases; and
2. Authorize the Airport Manager, with concurrence of the County Administrator and County Counsel, to finalize lease negotiations with the tenants, including revisions deemed necessary and appropriate by County Counsel; and
3. Authorize the Airport Manager to execute all Ground Lease Agreements and any subsequent modifications or amendments, with County Counsel concurrence; and
4. Authorize the Airport Manager to take all actions necessary to administer and implement the lease agreements.
SUMMARY:
The 25 existing Hangar Site Lease Agreeme...
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