1992-12-14 Regular Meeting - Laserfiche WebLink

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~EST FOR CITY COUNCIL AGE~ITEM Agenda Date Requested: December 14. 1992 Requested By: S. Gillett ~~(. Department: Public Wo~ {; Report Resolution XXXX Ordinance Exhibits: Ordinance No. m11 Corporate Resolution Authorizing Lease Agreement Lease Agreement ~.~_~,_ ....,_.~__o---__. ._-,."".. ., 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 to lease an additional 2.057 acres for the term of the lease, 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. 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. 1311 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 Water/Wastewater Capital Improvement General Revenue Sharing Other Account Number: Funds Available: YES NO ADDroved for citv Council Agenda Qol~ 1, \~ \1..~&-t-<\~ Robert T. Herrera DATE City Manager ---.-.., -. -- ,..--