Title
Public Hearing and Action on Resolution 22-097, a Resolution of Intent to Lease Real Property at Brookings Airport to M&C Partners, LLC.
Body
Summary:
The City is renewing a hangar lease with M&C Partners LLC for 4,032 square feet located on Site 117A & 117 B at the Brookings Regional Airport in Section 26 and 27, T110N, R50W in the City of Brookings. The lease will be for a 25-year term and the 2023 lease rate will be $0.14/square foot for a lease amount of $564.48. The lease amount will be increased by 2% annually and subject to review every five years. The lease has been reviewed by the City Attorney as to legal form.
The notice of public hearing was published on December 9, 2022 as required as per SDCL 9-12-5.2.
Recommendation
Recommendation:
1.) Adopt Resolution of Intent to Lease Real Property to M&C Partners LLC, and
2.) Authorize City Manager to execute lease agreement.
Body2
Attachments:
Memo
Resolution
Notice
Map