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Item 1.G.
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| City Council Regular | |
| Date: | 09/08/2025 |
| Title: | West End Hangar Ground Lease with Robert C. Bryan and Phyllis C. Bryan, Trustees of the Bryan Revocable Trust dated March 4, 2005 |
| Presented by: | Jeff Roach |
| Department: | Airport |
| Presentation: | No |
| Legal Review: | Template Contract |
| Project Number: | N/A |
RECOMMENDATION
Staff recommends the City Council approve the West End Hangar Ground Lease with Robert C. Bryan and Phyllis C. Bryan, Trustees of the Bryan Revocable Trust dated March 4, 2005 for a new ten-year term.
BACKGROUND (Consistency with Adopted Plans and Policies, if applicable)
Robert C. Bryan and Phyllis C. Bryan, Trustees of the Bryan Revocable Trust, purchased the hangar located at 2561 Overlook Drive that was constructed by the former tenant, R.W. McKamy and Donna McKamy. With that hangar purchase, the McKamys assigned their ground lease for this parcel located on the west end of the Airport to the Bryan Trust in an Assignment and Transfer approved by the City on January 25, 2016. The assigned lease expired June 30, 2025, and the Bryans on behalf of the Bryan Trust, would like to continue to lease this parcel. Staff has worked with the Bryans on a new West End Hangar Ground Lease for the 6,300 square foot parcel. The new Lease commences July 1, 2025 and expires on June 30, 2035.
ALTERNATIVES
City Council may:
- Approve the West End Hangar Ground Lease with Robert C. Bryan and Phyllis C. Bryan, Trustees of the Bryan Revocable Trust; or,
- Not Approve the West End Hangar Ground Lease with Robert C. Bryan and Phyllis C. Bryan, Trustees of the Bryan Revocable Trust.
FISCAL EFFECTS
The City will receive $1,827.00 rental revenue in the first year of the Lease. The rental rate will be adjusted on an annual basis on each anniversary date, using the average of all monthly percentage increases for the previous calendar year, as determined by the Department of Labor Consumer Price Index for All Urban Consumers (CPI-U), published by the Bureau of Labor Statistics.