Title
Public Hearing and Action on Resolution 22-005, a Resolution of Intent to Lease Real Property at Brookings Airport to Medary Aviation, LLC.
Body
Summary:
The City is entering a new hangar land lease with Medary Aviation LLC for 13,200 square feet located on Site 501 at the Brookings Regional Airport in Section 26 and 27, T110N, R50W in the City of Brookings. The lease will be for a 5-year term and the 2022 lease rate will be $0.13/square foot for a lease amount of $1,716.00. The lease rate will increase by 2% annually and subject to review every five years.
Recommendation
Recommendation:
Staff recommends approval.
Body2
Attachments:
Memo
Resolution
Legal Notice
Map