Loading...
HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 05/18/1999 - SECOND READING OF ORDINANCE NO. 76, 1999, AUTHORIZ AGENDA ITEM SUMMARY ITEM NUMBER: 13 DATE: May 18, 1999 10 FORT COLLINS CITY COUNCIL STAFF: Fred Anderton SUBJECT : Second Reading of Ordinance No. 76, 1999, Authorizing the Long-Term Lease of Property at the Fort Collins-Loveland Municipal Airport to Mike S. Hoffman for the Construction of an Aircraft Hangar. (Hanger Site B) RECOMMENDATION: Staff recommends adoption of the Ordinance on Second Reading. EXECUTIVE SUMMARY: The Airport Manager has negotiated a twenty-five year lease of property with Mike S.Hoffman,for the construction of an aircraft hangar. Mike S. Hoffman will construct a hangar that will provide at least 2,500 square feet of aircraft storage space. At the expiration of the lease,the improvements revert to the ownership of the Cities. Ordinance No. 76, 1999, was unanimously adopted on First 10 Reading on May 4, 1999. AGENDA ITEM SUMMARY ITEM NUMBER: 26 DATE: May 4, 1999 110 FORT COLLINS CITY COUNCIL STAFF: Fred Anderton SUBJECT: First Reading of Ordinance No. 76, 1999,Authorizing the Long-Term Lease of Property at the Fort Collins-Loveland Municipal Airport to Mike S.Hoffman for the Construction of an Aircraft Hangar. (Hanger Site B) RECOMMENDATION: a< Staff recommends adoption ofe Ordinance on Firtt Reading",a FINANCIAL IMPACT: The lease will generate,inland rents for the airport,$432 annually for the first five years. After the fifth,and every fifth year thereafitei•through`t'he ternibifthe lease(twenty-five),the rent will increase (using an equation based on ttie inflation rate establjAhed by theeenver-Boulder Consumer Price Index). i EXECUTIVE SUMMARY: The Airport Manager has negotiated a twenty-five year lease of property with Mike S.Hoffman,for the construction of an aircraft hangar. Mike S.Hoffrnan wil construct a hangar that will provide e space the expiration of the lease,the improvements at least 2,500 square feet of air�aft storag revert to the ownership of the pities. -AL w . The construction of the hangar will generate new revenue for the Airport and help meet the aircraft storage needs of local aircraft owners.