HomeMy WebLinkAboutResolution No. 2007-40Suggested by: City Manager
CITY OF KENAI
RESOLUTION NO. 2007-40
A RESOLUTION OF THE COUNCIL OF THE CITY OF KENAI, ALASKA, AUTHORIZING
ARCTIC BARNABAS MINISTRIES, INC. BE GRANTED THE CONTRACTUAL RIGHT FOR
A 20 YEAR LEASE RENEWAL FORA 35 YEAR LEASE ON LOT 9A, BLOCK 5,
GENERAL AVIATION APRON SUBDIVISION NO. S.
WHEREAS, KMC 21.10.080 authorizes the Council by resolution to grant a lessee the
contractual right to a lease renewal; and,
WHEREAS, Arctic Barnabas Ministries, Inc. has applied to lease Lot 9A, Black 5,
General Aviation Apron Subdivision No. S within the airport reserve; and,
WHEREAS, Arctic Barnabas Ministries will build a 80' by 100' hanger with a 44' by 80'
office/coffee shop space on the property; and,
WHEREAS, KMC 21.10 ordinarily provides for leases of 35 years; and,
WHEREAS, Arctic Barnabas Ministries, Inc. needs the contractual right for a lease of
55 years, consisting of the an initial 35 year lease term and a 20 year lease renewal, in
order to adequately finance and re-coup its investment in the property; and,
WHEREAS, the estimated value of the lease improvements will exceed one million
dollars, and,
WHEREAS, the Airport Commission recommended approval of a 35 year lease with a
20 year right of renewal; and,
WHEREAS, it is in the best interest of the City of Kenai to authorize Arctic Barnabas
Ministries, Inc. be granted the contractual right fora 20 year lease extension for its
lease of Lot 9A, Block S, General Aviation Apron Subdivision No. 5.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF KENAI,
ALASKA, that pursuant to KMC 21.10.080 Arctic Barnabas Ministries, Inc. is
authorized to be granted the contractual right to a 20 year lease extension fora 35
year lease of Lot 9A, Block 5, General Aviation Apron Subdivision No. 5.
PASSED BY THE COUNCIL OF THE CITY OF KENAI, SKA, this 20th day of June,
200.
ATTEST: ,~/,~/~(^ /~
Jen er L ewood, Acting City Clerk
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PAT PORTER, MAYOR