1993-01-11 Regular Meeting - Laserfiche WebLink

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RE&ST FOR CITY COUNCIL AGENLOITEM Agenda Date Requested: January 11. 1993 Requested By: S. Gi Lett Department: Public Works Report Resolution XXXX Ordinance Exhibits: Ordinance No. 1877 Corporate Resolution Authorizing Lease Agreement Lease Agreement SUMMARY & RECOMMENDATION The City of La Porte leases three (3) acres to Gulf Central Aviation, Inc. at the La Porte Municipal Airport. The lease, at a rental rate of $2,613.60 per year, expired June 30, 1992. The City has negotiated a new lease with Gulf Central, increasing the lease area and rate, for a period of twenty (20) years. The proposed lease adds 0.6065 acres, which provides for aircraft parking. Currently, aircraft are stored on property outside the existing lease. The proposed lease also provides an option, in the form of first right of refusal, to lease an additional 2.057 acres for ten (10) years, under the same rentals and charges, and other terms and provisions of the lease. Finally, the rental rate is increased from $871.20 per acre to $1,215.32 per acre, with annual adjustments based on the Consumer Price Index. First year rental under the terms of the new lease total $3,645.97, payable in twelve (12) monthly installments. The terms and conditions of the proposed lease are the same as those contained in previous leases with Bayport Aviation and Cliff Hyde Flying Service. Gulf Central Aviation, Inc. will pay the City of La Porte, on a prorated basis under the existing lease, rental for the period July 1, 1992 through December 31, 1992, in the amount of $1,306.80. Action Required by Council: Approve Ordinance No. approving and authorizing a lease for fixed base operation for the La Porte Municipal Airport between the City of La Porte and Gulf Central Aviation,Inc. Availability of Funds: General Fund Capital Improvement Other Account Number: Water/Wastewater General Revenue Sharing Funds Available: YES NO Approved for City Council Agenda Q T, 14�l -`1 - 013 Robert T. Herrera DATE City Manager