Title
Consider/Discuss/Act on a Resolution Authorizing the City Manager to Execute an Airport Administrative Office Lease Agreement
summary
MEETING DATE: August 21, 2012
DEPARTMENT: Airport
CONTACT: Ken Wiegand, Airport Director
RECOMMENDED CITY COUNCIL ACTION:
· Authorize the City Manager to execute the lease agreement.
ITEM SUMMARY:
· The proposed lease renewal will provide leased office space for airport administration through July 31, 2015.
BACKGROUND INFORMATION:
· The City of McKinney owns the airport, but does not own a facility from which to manage day-to-day operations and maintenance.
· Airport administration leases 965 square feet of office space from McKinney Aviation 1, the terminal building owner.
· The lease rate increase is based on the Dallas Consumer Price Index.
FINANCIAL SUMMARY:
· Expiring lease rate $27,027.00
· Renewed lease rate $28,943.16
· Annual lease increase $ 1,916.16
BOARD OR COMMISSION RECOMMENDATION:
· Recommend approval