The Non-Commercial Aviation Ground Lease with St. Vincent Healthcare expired on August 31, 2016. This is the renewal of St. Vincent Healthcare's Ground Lease in the Executive Hangar area located on the west end of the Airport at 2461 Overlook Drive.  The parcel encompasses 18,750 square feet and includes a hangar constructed by St. Vincent Healthcare.  The hangar is currently occupied by Agri Systems, Inc. in a hangar use swap agreement, whereby St. Vincent Healthcare actually occupies and operates from Agri Systems' hangar located at 2400 Overlook Drive.  St. Vincent Healthcare utilizes the hangar it occupies for its HELP Flight helicopters, which serve the surrounding region.  The new Lease is for a ten (10) year term, commencing September 1, 2016 and ending on August 31, 2026.  A copy of the Lease is on file in the City Clerk's Office.

↵City Council may:

• Approve the ten-year renewal of the Non-Commercial Aviation Ground Lease to St. Vincent Healthcare; or
• Disapprove the ten-year renewal of the Non-Commercial Aviation Ground Lease to St. Vincent Healthcare.

This ten-year Lease will generate $5,081.28 in annual revenue in the first year, with Lease rentals in subsequent years adjusted on an annual basis using the Department of Labor Consumer Price Index for All Urban Consumers (CPI-U), published by the Bureau of Labor Statistics. 

Staff recommends that City Council approve the ten-year renewal of the Non-Commercial Aviation Ground Lease with St. Vincent Healthcare.