Public Hearing: YES ☐ NO ☒ Department: Airport
SUBJECT:
Title
Commission District(s): Commission Districts 1 & 6
Standardized T-Hangar Lease Agreement with George W. Richter
Body
Information Contact: Mario A. Evans
Phone Number: 770-936-5440
PURPOSE:
To consider approval of a standardized two-year T-Hangar Lease Agreement with George W. Richter, effective October 1, 2021; and,
To consider authorizing the Chief Executive Officer to execute the Agreement.
NEED/IMPACT:
The initial term of this lease is for two years. The lease contains the provision for four (4) automatic two-year extensions. Each extension includes a rent increase of seven percent (7%) or an increase based on the consumer price index (CPI) whichever is greater.
For tenant to rent T-Hangar A-4 at the Airport.
Rental is comprised of the actual monthly rental fee for the leased premises ($418.00) which includes Lessor’s provision of electricity.
The County Attorney has reviewed the document and approved it as to form.
The original documents are in Purchasing and Contracting Department. A master copy of this lease has been placed in the Commissioners’ library for reference.
On February 10, 1999, the Airport Advisory Board approved a Policy Letter whereby “standard office leases” defined as leases of office, shop and storage spaces will not be brought before the AAB.
Describe why the item is needed. How will this item improve or sustain what your group currently does?
FISCAL IMPACT:
The Lease Agreement with George W. Richter is a ten-year revenue generating initiative from which substantial benefit will inure to the public.
ECOMMENDATION:
Recommended Action
To approve a standardized two-year T-Hangar Lease Agreement with George W. Richter, effective October 1, 2021; and, To authorize the Chief Executive Officer to execute the Agreement.