File #: RES 21-019    Version: 1 Name:
Type: Resolution Status: Passed
File created: 3/1/2021 In control: City Council
On agenda: 3/9/2021 Final action: 3/9/2021
Title: Public Hearing and Action on Resolution 21-019, a Resolution of Intent to Lease Real Property at the Brookings Regional Airport to South Dakota State University.
Attachments: 1. Memo, 2. Resolution, 3. Notice, 4. Map

Title

Public Hearing and Action on Resolution 21-019, a Resolution of Intent to Lease Real Property at the Brookings Regional Airport to South Dakota State University.

 

Body

Summary:

The City is renewing a hangar lease with South Dakota State University for 4,800 square feet located on Site 201 at the Brookings Regional Airport in Sections 26 and 27-T110N-R50W in the City of Brookings.  The lease will be for a 25-year term and the 2021 lease rate will be $0.13/square foot for a lease amount of $624.00.  The lease amount will be increased by 2% annually and subject to review every five (5) years. 

 

The public hearing was published as required.  

 

Recommendation

Recommendation:

Staff recommends approval. 

 

Body2

Attachments:

Memo

Resolution

Notice

Map