RECOMMENDATION(S):
APPROVE and AUTHORIZE the Director of Airports, or his designee, to execute on behalf of the County a Consent to Assignment of Lease between the County and the current tenant, Concord Jet Service, Inc. and the new tenant, Hofmann Holdings, LP.
FISCAL IMPACT:
There is no negative impact on the General Fund. The Airport Enterprise Fund will continue to receive lease and other revenues provided for in the Lease. The County General Fund will continue to receive property, sales and possessory interest tax revenues from the Lease.
BACKGROUND:
Under a ground lease dated May 25, 1982, the County leased the subject property for the purpose of providing a Fixed Base Operation at Buchanan Field Airport. This lease was assigned to different parties over the years; and, on August 17, 1999, it was assigned to Concord Jet Services, Inc.
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