Title
A Resolution amending Resolution No. 73-05 authorizing the Colorado Springs Airport to lease or grant the right of use airport property in excess of twenty-five (25) years but not to exceed ninety-nine (99) years for the purpose of economic development.
Body
From:
Dan Gallagher, Director of Aviation, Airport
Summary:
Article X, ?10-60 of the City Charter provides, in part, that no lease or right to use City property may exceed 25 years except for the purpose of economic development. In 2005 City Council determined that aviation and commercial development on Airport property constituted an economic activity and adopted guidelines authorizing the Airport to grant lease terms for Airport property in excess of 25 years not to exceed 99 years. To ensure compliance with current Federal Aviation Administration (FAA) grants assurances, as well as still encourage development of Airport property and facilities, by new and existing tenants, Airport staff recommends that the guidelines be amended to parallel FAA grants assurances and
compliance guidance.
Previous Council Action:
City Council previously approved Resolution No. 73-05 on April 26, 2005.
Background:
Article X, ?10-60 of the City Charter limits the term of any lease of City property to 25 years or less except for the purpose of economic development. For the purpose of economic development, the City Charter allows a lease term be granted in excess of 25 years but not exceeding 99 years. In 2005, City Council adopted Resolution No. 73-05 finding and determining that aviation and commercial development at the Airport constituted an economic development activity and setting forth parameters for leasing property at the Airport.
Resolution No. 73-05 instructed Airport staff to review the lease term guidelines every 5 years, which has since been completed. The review conducted by Airport staff has identified areas of concern and recommendations for modification as prese...
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