Alpine Aviation, Inc., now known as Alpine Immobilien, LLC (Alpine) has leased operations space at the Airport since March 2012.  The most recent Lease of a maintenance facility and Terminal Building basement space was approved by the City Council on August 10, 2015, for a two-year term that expired on July 31, 2017.  Alpine wishes to continue to lease its current operations space at the Airport.  Staff has worked with Alpine on a new five-year Lease that will expire on July 31, 2022.  Since the Terminal space being leased may be impacted by the future Terminal Expansion project prior to the Lease expiration date, a 90 day space cancellation clause has been incorporated into the the Lease.

City Council may:

• Approve the Limited Commercial Aviation Building and Ground Lease with Alpine; or
• Disapprove the Limited Commercial Aviation Building and Ground Lease with Alpine.

The initial year of this Lease will generate $18,430.35 of rental revenue for the Airport.  The subsequent years' rental rate will be adjusted using the Department of Labor Consumer Price Index for Urban Consumers (CPI-U), published by the Bureau of Labor Statistics.

Staff recommends that the City Council approve the Limited Commercial Aviation Building and Ground Lease with Alpine Immobilien, LLC for a five-year term beginning August 1, 2017, and ending July 31, 2022.