On May 29, 2007, John M. and/or Marcia A. Nash entered into two (2) twenty-year, West End Hangar Ground Leases with the City of Billings, and subsequently built a 7,200 square foot duplex-style hangar containing two 3,600 square foot units on a leased parcel located in Township 1 North, Range 25 East, Section 25, and referred to as Lots 10 and 11. On November 13, 2007, the Nashes sold one-half of this hangar, Hangar Unit #2807, to Drew C. and/or Jennifer R. White. The Whites now desire to sell this hangar to Susan J. Weaver. This Assignment, Transfer and Amendment One will formally transfer the Ground Lease on Lot 11 from Drew C. and/or Jennifer R. White to Ms. Weaver. Additionally, certain sections of the Lease, such as the insurance language, will be amended to update the language to that which is current today.

The City Council may:

• Approve all the documents transferring the leased parcel and hangar ownership from Drew C. and/or Jennifer R. White to Susan J. Weaver, and amending the Lease to update certain sections to current lease language; or
• Not approve all the documents transferring the leased parcel and hangar ownership from Drew C. and/or Jennifer R. White to Susan J. Weaver, and amending the Lease to update certain sections to current lease language.

There is no financial impact  to the Airport from this action.  The right of assignment and transfer is permitted under the City's Ground Lease, as is the ability to make amendments prior to assignment and transfer. The name on the Lease is all that changes with this Assignment, Transfer and Amendment One; all terms and conditions remain in full force and effect and binding on the new hangar owner.  Copies of the Assignment, Transfer and Amendment One and all associated documents are on file in the City Clerk's office.

Staff recommends that Council approve the Assignment, Transfer and Amendment One of the West End Hangar Ground Lease from Drew C. and/or Jennifer R. White to Susan J. Weaver, and all associated documents to finalize the transfer.