Agenda

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Consent-General Government # 11.

Board of Supervisors Meeting

County Administrator

Meeting Date:	01/13/2015
Brief Title: Approve successor airport lease
From:	Mindi Nunes, Assistant County Administrator, County Administrator's Office
Staff Contact:	Mindi Nunes, Assistant County Administrator, County Administrator's Office, x8426

Subject

Approve 10-year airport ground lease with James Ingraham. (No general fund impact) (Nunes)

Recommended Action

Approve 10-year successor airport ground lease with James Ingraham.

Strategic Plan Goal(s)

Champion job creation and economic opportunities

Reason for Recommended Action/Background

This lease renews an existing lease the Airport has had with the same tenant since 1995. The only changes are a market-rate rent adjustment and updated lease language.

The ground lease will generate $2,800 in the first year, plus a 2.5% annual cost-of-living adjustment.

Collaborations (including Board advisory groups and external partner agencies)

County Counsel

Fiscal Impact

Fiscal Impact (Expenditure)
Potential fiscal impact (see notes in explanation section below)
Total cost of recommended action:		$
Amount budgeted for expenditure:		$
Additional expenditure authority needed:		$
On-going commitment (annual cost):	$

Source of Funds for this Expenditure

Explanation (Expenditure and/or Revenue)

Further explanation as needed:

Airport revenue of $2,800.

Attachments
Att. A. Ingraham Lease

Form Review

Inbox	Reviewed By	Date
Financial Services	hnewens	01/07/2015 03:29 PM
County Counsel	Phil Pogledich	01/07/2015 03:48 PM
Form Started By: mnunes		Started On: 12/12/2014 04:03 PM
Final Approval Date: 01/07/2015