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TO: Mayor Richard C. Irvin
FROM: Steve Andras, P.E., Interim Airport Manager
DATE: September 14, 2018
SUBJECT:
An Ordinance Authorizing the Execution of a Land Lease at the Aurora Municipal Airport between the City of Aurora and ALB Properties, Inc.1901 Devonshire Ct. Oswego, IL 60543.
PURPOSE:
To obtain City Council approval of a land lease at the Aurora Municipal Airport located at 43W 450 US Route 30.
BACKGROUND:
This building is being sold to Brad Martin (ALB Properties, Inc.) by David Rosebraugh ( ARR-OW Aviation, Inc).
The building currently houses the operations of two businesses, Aerocare and Simpro. Both businesses have current Operating Agreements with the City of Aurora and will continue to operate out of this hangar.
DISCUSSION:
In accordance with our Federal Grant Assurances, we are required to treat all tenants and businesses uniformly and fairly.
The proposed lease rate of $0.41976 per square foot is consistent with the most recent Council-approved land lease with Chicago Jet Group. This rate will increase by 3.0% per year beginning December 1, 2019 and is also consistent with Chicago Jet Group's escalation method.
IMPACT STATEMENT:
This agreement will have no negative impact to the City and will bring the lease rate up to the most current rate.
RECOMMENDATIONS:
Please forward this to the Finance Committee for their review and recommendation.
cc: Finance Committee
CITY OF AURORA, ILLINOIS
ORDINANCE NO. _________
DATE OF PASSAGE ________________
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An Ordinance Authorizing the Execution of a Lease of Real Estate Agreement between the City of Aurora and ALB Properties, Inc. for Lease of Real Estate at the Aurora Municipal Airport.
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WHEREAS, the City of Aurora has a population of more than 25,000 persons and is, therefore, a home rule unit under subsection (a) of Section 6 of Article VII of the Illinois Constitution of 1970; and
WHEREAS, subject to said Section, a home rule unit may exercise any power and perfor...
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