On September 25, 2006, John M. and/or Marcia A. Nash entered into two, 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 in the Airport's West End General Aviation area, referred to as Lots 8 and 9 – Taxilane C. This was the first hangar of this size and style built by Mr. and Mrs. Nash. Upon the completion of the hangar construction, the Nashes opted to sell one-half of this duplex style hangar, located on Lot 9, to Jonathan R. Scott. The Assignment and Transfer to Mr. Scott was approved on April 9, 2007. The Nashes now wish to sell the other one-half of this hangar, located on Lot 8, to Michael J. Cryder. This Assignment and Transfer will formally transfer the Ground Lease on Lot 8 from John M. and/or Marcia A. Nash to Michael J. Cryder.

There is no financial impact from this action. The name on the Lease is all that changes with this Assignment and Transfer; all other terms and conditions remain in full force and effect.

Staff recommends that Council approve the Assignment and Transfer of the West End Hangar Ground Lease from John M. and/or Marcia A. Nash to Michael J. Cryder.