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Department of Transportation recommending the Board authorize the Chair to approve the termination of Ground Leases with David Yaw and Christine Yaw 374-L7011 and William Wilson 232-L0611, at the Placerville Airport; and recommending the Board authorize the Chair to sign the 10-year Ground Lease for Portable Hangars 10-53027 with Ricky Branaugh, and 10- year Ground Lease for Portable Hangars 10-52970 with Nancy L. Porter Trustees of the David A. Porter and Nancy L. Porter Family Trust at the Placerville Airport. (4/5 vote required)
FUNDING: Placerville Airports Enterprise Fund - Fee Revenue.
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Fiscal Impact/Change to Net County Cost:
The County will receive annual revenue in the total amount of $1,752.00 from the leases listed as set by Resolution 097-2010. There is no net cost to the County General Fund associated with this agenda item.
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 all of the required insurance certificates had been obtained. We have now obtained all of the necessary insurance certificates and are presenting the leases in a packaged presentation as requested by your Board. The tenants continued to pay and the County continued to accept rent from the tenants.
Reason for Recommendatio...
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