Title
Planning and Building Department, Airports Division, recommending the Board approve and authorize the Chair to sign County of El Dorado Airport Ground Lease 2058, between the County and Lessee, Stephen Cimmarusti, for a privately-owned hangar located on Space SP-01 at the Georgetown Airport, representing use of 936 square feet of Airport ground, with commencement rental fee due of $792 that requires a rental fee to be paid at commencement of the lease and paid annually thereafter in accordance with fees established by the Board Resolution in effect at the time payment is due (currently Board Resolution 183-2019 approved by the Board on October 22, 2019, Item 31, Legistar 19-0663), and upon Board execution, with a lease term of ten years (4/5 vote required).
FUNDING: Georgetown Airport Enterprise Fund - Fee Revenue.
Body
DISCUSSION / BACKGROUND
Airport users with portable hangars must enter into a lease with the County for the use of Airport property, in accordance with County Ordinance Code ยง 3.08.021. Each new ground lease includes language required by the County and the Federal Aviation Administration.
The proposed lease represents a renewal ground lease of a prior lease, upon which a privately-owned portable aircraft storage hangar is utilized, for the hangar occupying Georgetown Airport Space SP-01 with owner Stephen Cimmarusti (Cimmarusti Lease).
A requirement of a ground lease includes proof of insurance per County requirements. The Lessee provided a copy of insurance which has been reviewed and approved by the County's insurance tracking vendor, Ebix. A copy of the Ebix report is attached (Attachment C).
This lease includes a term effective upon Board execution and expiring ten (10) years thereafter. Upon expiration of the initial term, Lessee shall have the right to extend the term for an additional two (2) ten (10) year lease options under such terms and conditions as may be agreed upon at such time. After expiration, the County may i...
Click here for full text