Title
Department of Transportation recommending Board Chair be authorized to terminate the Ground Leases with John Wetsel dated October 18, 1993, Lawrence E. Alleman, Trustee of the Alleman Family Trust Dated March 13, 1992 09-52869, at the Placerville Airport and Ben Hollingsworth 132-L0611 at the Georgetown Airport; and recommending the Board authorize the Chair to sign the 10 year Ground Lease for Portable Hangars with Dennis Thomas 10-52971, Mike Worth 10-52972 at the Placerville Airport and Randy Johnson 10-52975 at the Georgetown Airport. (4/5 vote required)
FUNDING: Placerville and Georgetown Airports Enterprise Fund - Fee Revenue.
Body
Fiscal Impact/Change to Net County Cost:
The County will continue to receive annual revenue in the total amount of *$1,985.00 from the leases listed as set by Resolution 232-2004. There is no net cost to the County General Fund associated with this agenda item.
*There is a proposed rent increase scheduled for approval by the Board under a separate agenda item at the June 29, 2010 Board meeting. The proposed fee increase, if approved by the Board, will commence on July 1, 2010 and is not included in the above stated amount.
Background:
The leases the Department of Transportation (DOT) is requesting to be terminated are with former tenants who have sold their interests in their hangars to new owners. The new tenants who have purchased those hangars would normally have been assigned to the previous tenant's lease. The Airports have requested the new tenants enter into a new Ground Lease. This enables the Airports to update the contractual language now required by the Federal Aviation Administration and the County of El Dorado. All of the current Ground Leases will be replaced with a 10-year Ground Lease Agreement containing the new language which was approved by the Airport Committee and your Board on August 18, 2009.
It was necessary for Airports to hold off on submitting the new leases to your Board until al...
Click here for full text