Executive/Council Action Form (ECAF)
ITEM TITLE:
Title
Motion 23-140, authorizing the Executive to execute an Option to Lease Land to Salire, LLC at the Snohomish County Airport
body
DEPARTMENT: Airport
ORIGINATOR: Nickolis A. Landgraff
EXECUTIVE RECOMMENDATION: Neepaporn Boungjaktha (4/7/23)
PURPOSE: To authorize the Executive to execute an Option to Lease Land to Salire, LLC for 88,404 square feet at Snohomish County Airport.
BACKGROUND: Click or tap here to enter text.
• Salire, LLC desires to obtain an exclusive option to lease land at Snohomish County Airport at Paine Field for the purpose of developing 84,404sf of land on the General Aviation Runway 16L-34R .
• This option shall provide time for Salire, LLC to do their due diligence on a general aviation center that for purposes of developing the site for uses compatible with aircraft storage, general aviation hangars, aeronautical services, office space, and a restaurant.
• This Lease Option shall be for 10% of fair market value or $839.84 per month for twelve (12) months and one (1) option for a six-month extension at the County’s sole discretion. This should be sufficient time for due diligence, permitting, and any suitability studies to be completed. If the lease option is exercised, it will generate $100,780.56 per year for the Airport Enterprise Fund or current fair market value at the time of lease execution.
• This project is a compatible land use in the current Airport Master Plan (AMP) and the proposed AMP.
FISCAL IMPLICATIONS:
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EXPEND: FUND, AGY, ORG, ACTY, OBJ, AU |
2023 |
2024 |
2023-2024 |
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TOTAL |
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REVENUE: FUND, AGY, ORG, REV, SOURCE |
2023 |
2024 |
2023-2024 |
|
410.3216801.6250 - Aviation Rents |
$6,718.72 |
$3,359.36 |
$10,078.06 |
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TOTAL |
$6,718.72 |
$3,359.36 |
$10,078.06 |
DEPARTMENT FISCAL IMPACT NOTES: Click or tap here to enter text.
CONTRACT INFORMATION:
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ORIGINAL |
X |
CONTRACT# |
Option to Lease |
AMOUNT |
$10,078.06 |
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AMENDMENT |
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CONTRACT# |
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AMOUNT |
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Contract Period
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ORIGINAL |
START |
Effective Immediately |
END |
12 Months |
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AMENDMENT |
START |
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END |
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OTHER DEPARTMENTAL REVIEW/COMMENTS: Reviewed/approved by: Risk Management as to form (Sheila Barker (4/6/23), Prosecuting Attorney as to form (Michelle Corsi 3/20/23), and Finance (Nathan Kennedy 4/7/23)