Title
State of Arizona Game and Fish Department Amendment - Corporate Hangar Lease at Deer Valley Airport (Ordinance S-44944)
Description
Request to authorize the City Manager, or his designee, to amend the lease term of the State of Arizona Game and Fish Department's (AZGF) corporate hangar lease number 128085 at the Deer Valley Airport (DVT). Rent for the hangar will be approximately $56,234 for the first year of the extension term. Rent will be adjusted annually by approximately three percent in accordance with the existing lease terms. Revenue to the City over the additional term will be approximately $235,228.
Report
Summary
AZGF leases approximately 6,200 square feet of corporate hangar space at DVT to store aircraft. The current 10-year lease was entered into on Nov. 1, 2008 and expires on Oct. 31, 2018. AZGF has requested a four-year term extension.
Contract Term
The term will be four years with no options to extend. Standard lease language provisions will be updated. All other terms and conditions will remain the same.
Financial Impact
Rent for the hangar will be approximately $56,234 for the first year of the extension term. Rent will be adjusted annually by approximately three percent in accordance with the existing lease terms. Revenue to the City over the additional term will be approximately $235,228.
Concurrence/Previous Council Action
This item was recommended by the Phoenix Aviation Advisory Board on Aug. 16, 2018.
Location
702 W. Deer Valley Road
Council District: 1
Department
Responsible Department
This item is submitted by Deputy City Manager Deanna Jonovich and the Aviation Department.