From
Elsa Delgado
Title
Authorize the City Manager to enter into an amendment to airport hangar leases to provide a temporary monthly rent abatement of 25% for tenants with missing or inoperable hangar doors resulting from the storm event of March 13, 2019
Presenter
Mark J. Divita, C.M.
Recommended Action
Approve
Analysis
The City leases aircraft hangars at the airport, many of which were damaged by the storm event on March 13, 2019. As the result of the storm event, many hangar doors are missing or inoperable, preventing tenants from accessing or securing their hangars. This item will authorize the Airport Director to grant tenants whose hangar doors are missing or inoperable a temporary 25% abatement of monthy hangar rent until repaired or replaced hangar doors are installed and operational. Tenants will be required to execute an amendment to their hangar lease evidencing the rent abatement. Airport billing will be sent out on April 19th and the discount will take affect on May 1, 2019 bills.
Financial Consideration
There is a total of 38 hangars affected with monthly rent totaling $8,707.00. Abated rent for these hangars will be $6,530.25.