File #: 2011-0475    Version:
Type: Ordinance Status: Passed
File created: 1/9/2012 In control: Budget and Fiscal Management Committee
On agenda: Final action: 2/21/2012
Enactment date: 3/1/2012 Enactment #: 17264
Title: AN ORDINANCE authorizing the King County executive to enter into a long-term lease agreement with Gateway USA, LLC dba Clay Lacy Aviation, for a portion of the King County international airport located in council district 8.
Sponsors: Kathy Lambert, Joe McDermott
Indexes: Airport, Lease
Attachments: 1. Ordinance 17264.pdf, 2. A. King County International Airport Lease Agreement, dated February 7, 2012, 3. 2011-0475 transmittal letter.doc, 4. 2011-0475 fiscal note.xls, 5. 2011-0475 Attachment to Transmittal Letter--Lease #7017 - Clay Lacy--Dated 07182011.pdf, 6. 02-07-12 Staff Report & attachments, 7. Revised Staff Report 02-07-12, 8. A. King County International Airport Lease Agreement, dated February 7, 2012
Drafter
Clerk 02/14/2012
title
AN ORDINANCE authorizing the King County executive to enter into a long-term lease agreement with Gateway USA, LLC dba Clay Lacy Aviation, for a portion of the King County international airport located in council district 8.
body
      BE IT ORDAINED BY THE COUNCIL OF KING COUNTY:
      SECTION 1.  Findings:  In accordance with K.C.C. 4.56.150, 4.56.160, 4.56.180 and chapter 15.72, the council may adopt an ordinance permitting the county to lease its property for a term of years not to exceed thirty-five years if, among other requirements:
      A.  The value of the leasehold improvements is or will be at least equal to the value of the property to be leased;
      B.  The value of the parcel to be leased has been appraised at six million eight hundred thousand dollars as of November 2011; and
      C.  The value of tenant improvements to the leased parcel is eleven million dollars.
      SECTION 2.  The King County executive is hereby authorized to execute a long-
term lease agreement, in substantially the form attached to this ordinance, with Gateway USA, LLC dba Clay Lacy Aviation.