O-2007-3055 - Laserfiche WebLink

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REQUEST FOR CITY COUNCIL AGENDA ITEM Agenda Date Reqnested: ~~. 17.. 2007 Requested By: S. Gillett ~ Department: Public Works Appropriation Source of Funds: Account Number: Report: Resolution: Ordinance: x Amount Budgeted: Exhibits: Ordinance Amount Requested: Exhibits: Agreement and Lease Budgeted Item: N/A Exhibits: SUMMARY & RECOMMENDATION Gulf Central Aviation currently leases 3.6065 acres at the La Porte Municipal Airport and operates a Fixed Base Operation (FBO) at the site. The current lease began on January 1, 1993 and is due to expire on December 3 1, 2013. Gulf Central owners have agreed to sell the assets of the corporation to La Porte Flight Line, L.L.C. La Porte Flight Line has requested a new, twenty (20) year lease, with two (2) five (5) year options to operate an FBO on the same site. The lease period will begin on January 1, 2008 and run through December 31,2027. Additionally, La Porte Flight Line has requested a five (5) year option, with right of first refusal, on an adjacent 2.057 acre tract for possible future development. The lease rate, beginning on January 1,2008 is $1,820.25 per acre per year, which would result in a first- year rental rate of $6,564.73 for the 3.6065 acres. This is the identical rate per acre charged to all FBO's at the Airport. Annual cost-of-living adjustments based on the CPI-U are included in the lease, as in all FBO leases. In accordance with the Standard Minimum Requirements for Airport Aeronautical Services at the La Porte Municipal Airport, La Porte Flight Line has submitted a letter requesting the lease, evidence of its ability to operate an FBO and the required $500 application fee. La Porte Flight Line meets all the requirements ofthe FBO Standards. Due to the volume of information, a copy of the submissions, as well as a signed copy of the Agreement for Purchase and Sale of Certain Assets of Gulf Central Aviation, Inc. is available for review in the City Secretary's Office. Date