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  Item No. 9.       
Meeting Date: 03/12/2020  
COMMITTEE: Legal  
CONTACT: Aaron Holloman CHAIR: Judy Stubbs

ACTION REQUESTED:
Consider approval to authorize Jon E. Hitchcock, Robert B. Corn, James Patterson, Siavash Karimian, Brandon Arnold, John Berry, and Cliff Waide, individuals, to renew their current lease agreement on Hangar No. 91, Spaces A and B.
BACKGROUND:
Initiated by:  Scott Stark/Mark Bleth
 
Jon E. Hitchcock, Robert B. Corn, James Patterson, Siavash Karimian, Brandon Arnold, John Berry, and Cliff Waide leases the hangars for the purpose of aircraft storage and maintenance. , 91A is 4,589 square feet with an approximately 750 square feet addition, and 91B is 4,623 square feet. New rent amount respectively is $860 and $850 monthly; $ 10,320 and $10,200 annually. Rent adjustment is 5% and 3%, respectively. Jon E. Hitchcock, Robert B. Corn, James Patterson, Siavash Karimian, Brandon Arnold, John Berry, and Cliff Waide have been customers since January 2000.
FINANCIAL CONSIDERATION
Jon E. Hitchcock, Robert B. Corn, James Patterson, Siavash Karimian, Brandon Arnold, John Berry, and Cliff Waide, new rent amount respectively is $860 and $850 monthly; $ 10,320 and $10,200 annually. Rent adjustment is 5% and 3%, respectively.  Term: April 1, 2020 through March 31, 2021.
LEGAL REVIEW:
The City Attorney has reviewed the lease.
BOARD AND COMMITTEE ACTION:
The Legal Committee recommended (3-0) approval at their meeting on February 27, 2020.
STAFF RECOMMENDATION:
Consider approval of the lease as presented.
Attachments
ATT 1 Hitchcock lease


    

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