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Public Hearing and Action on Resolution 24-100, a Resolution of Intent to Lease Real Property at Brookings Airport to Pheasants Fury Aviation, LLC.
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Summary and Recommended Action:
Staff recommends approval of the proposed resolution, authorizing the City Manager to enter into a new hangar lease with Pheasants Fury Aviation LLC., for 5,280 square feet located on Site 133 at the Brookings Regional Airport in Section 26 and 27, T110N, R50W in the City of Brookings and terminate the current lease agreement with Pheasant’s Fury LLC. The new lease will be for a 25-year term and the 2024 lease rate will be $0.18/square foot for an annual lease amount of $950.40. 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 November 1, 2024 as required as per SDCL 9-12-5.2.
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Attachments:
Memo
Resolution
Notice
Location Map