HomeMy WebLinkAbout152 - 11/01/1994 - AUTHORIZING THE LONG TERM LEASE OF PROPERTY AT FORT COLLINS LOVELAND AIRPORT FOR A FIXED BASE OPERAT ORDINANCE NO. 152, 1994
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE LONG-TERM LEASE OF PROPERTY
AT THE FORT COLLINS/LOVELAND MUNICIPAL AIRPORT
FOR USE AS A FIXED BASE OPERATION (FBO)
WHEREAS, the Cities of Fort Collins and Loveland ("Cities") jointly own and
operate the Fort Collins/Loveland Municipal Airport (the Airport) ; and
WHEREAS, the Cities have adopted an Airport Operating and Development
Policy and Twenty-Year Capital Improvement Plan in order to effectively plan and
design Airport infrastructure needs; and
WHEREAS, the Intergovernmental Agreement for the joint operation of the
Airport provides that policy issues, including Airport agreements, require
approval by both Cities; and
WHEREAS, the Cities desire to lease certain Airport property for the
purpose of allowing a business to serve as a Fixed Base Operator ("FBO") at the
Airport; and
WHEREAS, the Airport requested and reviewed competitive proposals and
interviewed qualified vendors for the provision of FBO-related services pursuant
to the procurement procedures of the Cities and the FAA; and
WHEREAS, as a result of this review and interview process, the Airport,
with the concurrence of the Airport Steering Committee, desires to lease certain
Airport property to Fort Collins-Loveland jetCenters, Inc. ("jetCenters") for the
purpose of allowing jetCenters to serve as an FBO at the Airport pursuant to the
Airport Property Lease and Agreement ("Agreement") , incorporated herein and on
file with the City Clerk.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT
COLLINS, COLORADO:
Section 1 . That the Mayor and City Clerk are hereby authorized to enter
into a long-term lease with jetCenters, Inc. for the leasing to jetCenters of the
property described in the proposed lease, and located at said Airport, a copy of
which lease form is on file with the City Clerk.
Section 2. That said long-term lease shall include the following terms and
conditions:
* that the term of lease shall be ten-years (10) with two (2) five-
year (5) extension options;
* that the lease will generate at least Forty-eight Thousand Dollars
($48,000.00) annually for the first five-years (5) , and that upon
commencement of the sixth-year, and the initial year of each
extension term executed thereafter, the rent will increase in
accordance with an equation based upon the rate of inflation as
established in the Denver-Boulder Consumer Price Index; and
* that all improvements made to the leased premises by jetCenters will
revert to the ownership of the Cities upon expiration of the lease.
* That jetCenter's obligations under the lease will be guaranteed by
jetCenter's parent corporations, with the form of the guarantee to
be acceptable to the City Attorneys for the Cities.
Section 3. That the City Council hereby finds that it is in the best
interests of the City to enter into the foregoing lease.
Introduced, considered favorably on first reading, and ordered published
this 18th day of October, A.D. 1994, and to be presented.fer) final pass,3g om the
1st day_ of November,_ A.D. 1994.
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ATTEST:
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City Clerk
Passed and adopted on final reading this 1st day of ovember A 15 1994.
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ATTEST:
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