HomeMy WebLinkAboutORDINANCE 0434-1978INTRODUCBi) BY COUNCILMAN WHELAN
ORDINANCE NO. 434-78
AN ORDINANCE OF THE COUNCIL OF THE CITY OF KFNAI, ALASKA, AMENDING
ORDINANCE NO. 400-78 ESTABLISHING POLICIES AND PROCEDURES RELATIVE
'~ THE LEASE OF AIRPORT LANDS AS IT CONCERNS THE FIVE YEAR REDETER-
MINATION PERIOD.
WHEREAS, Ordinance No. 400-78 relative to establishing policies and procedures
for the lease of airport lands was recently adopted by the Council of the
City of Kenai, and
WHEREA~, said ordinance revised the leasing policy of the City relative
to airport lands so that City leases might be more attractive ~ ~tenti~! lessees
and thereby the flnaneisl position of the City, more particularly the City airport,
would be enhanced, and
WlffiREA~, certain revisions in the leasing policy are needed so that the City's
present lessees might take advantage of the provisions of this new ordinance,
sinee it is the intent of the City Council that the ordinance apply to all lessees
equally, and
WHEREAS, in the past, the rents of ceftin leases were not redetermined at
their normal five year intervals by virtue of the City's failm, e to redefermine
the same, and
t~IEREAS, so as to allow for the $0% cap provision of the new leasing policy
ordinance to apply as fairly as possible to all existing lessees and new lessees,
it is desirable to amend the present ordinance in order to rectify the problems
caused by those leases that have not been reevaluated in the last five year
tern while at the same time protecting the financial position of the City in
obtaining a fair rate of return for its airport lands,
NOW, THEREFORE, BE IT ORDAINED BY THE CITY OF KENAI, ALASKA, as
follows:
Section I:
21.05.080(4) is amended to read as follows:
e
Those leases existing at the time of t~,~ effective date of this ordinance
in which the lease rate had not been redetermtned at its previous
five year interval, may be redctermined at t~ctr next five year period
utilizing the 5096 cap provision of Section 21.05.050(2), on the basis
of the 1977 property appraisal (gauged at 696 return) performed by
the City on the lots in question.
434°75° page
PASSED BY TIlE COUNCIl, OF TIlE CITY OF KENAI, ALASKA this 4th day of
Oetobei', 19711,
Peter, CiW Clerk
VINCENT O*REILLY ,/MAYOR
First Reading: September 20r 1978
Second Reading: Oetobet' 4~ 1978
Effective Date: Novembex, 4~978