HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 05/18/1999 - SECOND READING OF ORDINANCE NO. 77, 1999, AUTHORIZ AGENDA ITEM SUMMARY ITEM NUMBER: 14
DATE: May 18, 1999
FORT COLLINS CITY COUNCIL STAFF: Fred Anderton
SUBJECT:
Second Reading of Ordinance No. 77, 1999, Authorizing the Long-Term Lease of Property at the
Fort Collins-Loveland Municipal Airport to David F. Klink for the Construction of an Aircraft
Hangar.
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 David F. Klink, for
the construction of an aircraft hangar. David F. Klink will construct a hangar that will provide at
least 2,000 square feet of aircraft storage space. At the expiration of the lease, the improvements
revert to the ownership of the Cities. Ordinance No. 77, 1999, was unanimously adopted on First
Reading on May 4, 1999.
AGENDA ITEM SUMMARY ITEM NUMBER: 27
DATE: May 4, 1999
10 FORT COLLINS CITY COUNCIL STAFF: Fred Anderton
SUBJECT:
First Reading of Ordinance No. 77, 1999,Authorizing the Long-Term Lease of Property at the Fort
Collins-Loveland Municipal Airport to David F. Klink for the Construction of an Aircraft Hangar.
RECOMMENDATION: 7' -
Staff recommends adoption ofxhe Ordinance on FiiSt Reading
FINANCIAL IMPACT:
The lease will generate,in land rents for the airport,$276.48 annually for the first five years. After
the fifth, and every fifth year thereafter through the term of the lease (twenty-five), the rent will
increase(using an equation based`on the inflation rafRE-stabliAied by'the Denver-Boulder Consumer
Price Index). ,
EXECUTIVE SUMMARY:
The Airport Manager has negotiated a twenty-five year lease of property with David F. Klink, for
the construction of an aircraft hangar. David F. Klink will construct a hangar that will provide at
least 2,000 square feet of aircraft storages pace.. Atb'e•expu"ation`of the lease, the improvements
revert to the ownership of the'Cities
The construction of the hangar will generate new revenue for the Airport and help meet the aircraft
storage needs of local aircraft owners.