The City of Lee's Summit - File #: BILL NO. 22-216

• File #: BILL NO. 22-216
• Type: Ordinance
• Status: Passed
• File created: 5/25/2022
• In control: City Council - Regular Session
• On agenda: 10/18/2022
• Final action: 10/18/2022
• Title: An Ordinance authorizing the execution of a ground lease agreement by and between the City of Lee's Summit and Dream in Flight, LLC for a period of 30 years with options for four additional five-year terms for the development of a Hangar located on the West side of the North Apron at the Lee Summit Municipal Airport and authorizing the Mayor to execute an agreement for the same. (BOAC 10/3/22 and PWC 10/10/22)

Date	Action By	Action	Result
10/18/2022	City Council - Regular Session	for second reading	Pass
10/18/2022	City Council - Regular Session	adopted and numbered	Pass
10/10/2022	Public Works Committee	recommended for approval	Pass
10/3/2022	Board of Aeronautic Commissioners	recommended for approval

Title
An Ordinance authorizing the execution of a ground lease agreement by and between the City of Lee's Summit and Dream in Flight, LLC for a period of 30 years with options for four additional five-year terms for the development of a Hangar located on the West side of the North Apron at the Lee Summit Municipal Airport and authorizing the Mayor to execute an agreement for the same. (BOAC 10/3/22 and PWC 10/10/22)


Body
Issue/Request:
An Ordinance authorizing the execution of a ground lease agreement by and between the City of Lee's Summit and Dream in Flight, LLC for a period of 30 years with options for four additional five-year terms for the development of a Hangar located on the West side of the North Apron at the Lee Summit Municipal Airport and authorizing the Mayor to execute an agreement for the same.

Key Issues:
· Approval of this ordinance would authorize the execution of a Ground Lease Agreement between Dream in Flight, LLC on the West Side of the North Apron at the Lee’s Summit Municipal.
· The hangar will be used to perform Aircraft airframe and Powerplant maintenance, inspections and Aircraft storage.
· The lease provides ground for the development of a 120’ by 80’ aircraft hangar, additional ramp, and automotive parking.
· Dream in Flight, LLC has agreed to a ground lease rate of $0.43 per square foot for the Building and required setbacks and $0.18 per square foot and additional ramp space.
· Dream in Flight, LLC initial annual rental rate will be $8,079.00 for the first year with an increase of 3 percent to this rate per year during the 30-year term.
· The lease term is for an initial term of twenty (30) years with options for up to four (4) additional five (5) year renewal periods

Proposed Committee Motion:
I move to recommend to City Council for approval of an Ordinance authorizing the execution of a ground lease agreement by and between the City of Lee's Summit and Dream in Flight, LLC for a period of 30 years with options for four...