Title
Amendment to Executive Hangar Lease 152807 with Salt River Project at Phoenix Sky Harbor International Airport (Ordinance S-49070)
Description
Request to authorize the City Manager, or his designee, to amend Executive Hangar Lease152807 with Salt River Project Agricultural Improvement and Power District (SRP) to add executive hangar 10 to the premises at Phoenix Sky Harbor International Airport.
Report
Summary
On March 1, 2020 SRP entered into Executive Hangar Lease 152807 for executive hangar 11. The term for Executive Hangar Lease 152807 terminates on Feb. 29, 2024. SRP has purchased a new aircraft and requires additional space and SRP is requesting to lease executive hangar 10 to store the additional aircraft by amending the premises.
Contract Term
This amendment will add executive hangar 10 to the premises of Executive Hangar Lease 152807, which is scheduled to expire on Feb. 29, 2024. All other terms and conditions of the lease will remain the same.
Financial Impact
Rent for this amendment will increase approximately $30,364.32 per year ($2,530.36 per month). Rent will be adjusted annually based on the Consumer Price Index (CPI) for Phoenix-Mesa-Scottsdale. Expected occupancy will be 15 months total. The total estimated revenue will be $37,955.40.
Concurrence/Previous Council Action
The City Council approved:
- Executive Hangar Lease 152807 (Ordinance S-46072) on October 2, 2019
The Phoenix Aviation Advisory Board recommended this item for approval on September 15, 2022, by a vote of 6-0.
Location
Phoenix Sky Harbor International Airport - 2527 E. Air Lane, Phoenix, Arizona 85034
Council District: 8
Department
Responsible Department
This item is submitted by Deputy City Manager Mario Paniagua and the Aviation Department.