Scott Morledge-Hampton, the Director of Morledge-Hampton Family, LLC desires to enter into a new West End Hangar Ground Lease and to construct a new 60' x 60' hangar on a parcel located at 2903 Overlook Drive.  This Lease is for a 5,950 square foot parcel located in the general aviation area on the west end of the Airport.  This will be the 26th lease in this area. The Lease is for twenty years, commencing April 1, 2015 and terminating on March 31, 2035.  A copy of the Lease in on file in the City Clerk's Office.

City Council may:

• Approve the new twenty-year Ground Lease with Morledge-Hampton Family, LLC; or
• Disapprove the Ground Lease.

The first year of this Lease will generate $1,309 of revenue for the City's Airport.  Subsequent years will be adjusted annually by the Department of Labor Consumer Price Index For All Urban Consumers (CPI-U), published by the Bureau of Labor Statistics, for the previous twelve months to keep pace with annual inflation.

Staff recommends City Council approve the twenty-year West End Hangar Ground Lease to Morledge-Hampton Family LLC, for the term beginning April 1, 2015 and terminating on March 31, 2035.