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Transportation Department requesting authorization to terminate the Ground Leases with William V. Norberg Golden Foothill, LLC Lease No. 222-L0611, Barry and Juli Miller Lease 384-L0711, Gregory A. and Jennifer M. Joy Trustee's Lease No. 382-L0711, Al Hamilton Lease dated February 28, 1989, Carl Madsen Lease dated August 26,1993; and recommending the Board authorize the Chair to sign the 10 year Ground Lease for Portable Hangars with Al Herron Lease No. 09-52871, Al Hamilton Lease No. 09-52872, Ronald E. and Sharon C. Baierlein Lease No. 09-52873, Marc E. Regelbrugge Lease No. 09-52874, Jeremy Lamberson Lease No. 09-52875 at the Placerville Airport. (4/5 vote required per County Ordinance 3.08.021)
FUNDING: Placerville Airport Enterprise Fund - Fee Revenue.
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Fiscal Impact/Change to Net County Cost: None
The County will continue to receive annual revenue in the total amount of $3,064.00 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.
Background:
The leases that 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 that 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 El Dorado County. 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 all of the required insurance certificates had been obtained. We have now obtained all of the necessary insurance certificates and can now present the leases in a packaged p...
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