Executive/Council Action Form (ECAF)
ITEM TITLE:
Title
Motion 24-253, authorizing the Executive to execute an option to lease land to Sierra Services, Inc. at the Snohomish County Airport
body
DEPARTMENT: Airport
ORIGINATOR: Nickolis Landgraff
EXECUTIVE RECOMMENDATION: A. Boungjaktha 6/11/24
PURPOSE: To authorize the Executive to execute an Option to Lease Land to Sierra Services, Inc. for 285,587sf at Snohomish County Airport.
BACKGROUND: .
• Sierra Services, Inc. desires to obtain an exclusive option to lease land at Snohomish County Airport at Paine Field for the purpose of developing 285,587sf of land located in Sector 6, Lots 22 & 36.
• This option shall provide time for Sierra Services, Inc. to do their due diligence for the purposes of developing corporate aviation hangars and associated infrastructure on the site compatible with the uses of nearby properties (i.e. industrial, warehouse, and office spaces).
• This Lease Option shall be for 10% of fair market value or $2,713.08 per month for six (6) 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.
• 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 |
CURRENT YR |
2ND YR |
1ST 6 YRS |
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TOTAL |
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REVENUE: FUND, AGY, ORG, REV, SOURCE |
CURRENT YR |
2ND YR |
1ST 6 YRS |
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410.3216801.6250 - Aviation Rents/Leases |
$16,278.48 |
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$16,278.48 |
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TOTAL |
$16,278.48 |
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$16,278.48 |
DEPARTMENT FISCAL IMPACT NOTES: Click or tap here to enter text.
CONTRACT INFORMATION:
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ORIGINAL |
X |
CONTRACT# |
Option to Lease Land |
AMOUNT |
$16,278.48 |
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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 |
END |
6 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 (Sheila Barker 6/10/24), Finance (Nathan Kennedy 6/10/24), and Prosecuting Attorney’s Office as to form (Michelle Corsi 5/15/24)