ORDINANCE NO. 250808
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Sponsor: Director of Aviation Department
Estimating revenue in the amount of $0.00; and authorizing the Director of Aviation to execute a thirty (30) year lease agreement with two (2) ten (10) year renewal options with Airside Innovation Missouri, LLC, for the purpose of developing property to include aprons, hangars, offices, fuel farm and vehicle parking at the Kansas City Downtown Airport.
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WHEREAS Airside Innovation Missouri, LLC was selected to develop and lease approximately 21 acres on land located at the Kansas City Downtown Airport - Wheeler Field and to operate a Fixed Base Operation and Maintenance Repair Operation; and
WHEREAS due to the cost of developing the land, will pay no rent for the first four (4) years and will pay an amount equal to fair market rent thereafter; and
WHEREAS development of the subject property is in the best interest of the City by developing property consistent with the airport's layout, supporting provision of valuable services to airport users, generating revenue to support the operation of the airport during the term of the lease, and helping City to fulfill its obligations as an airport sponsor.
BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:
Section 1. That revenue in the following account of the Aviation Fund is estimated to be:
26-8300-620000-470640 Prop Rent-Aviation-Ground $0.00
Section 2. That the Director of Aviation is authorized to execute a thirty (30) year lease agreement with two (2) ten (10) year renewal options with Airside Innovation Missouri, LLC, for the purpose of developing property to include aprons, hangars, offices, fuel farm and vehicle parking at the Kansas City Downtown Airport. A copy of the lease agreement in substantial form 5989is on file in the Aviation Department.
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Approved as to form:
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