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 owner of Skyview Aviation, LLC and the new owner Riya Enterprises, LLC to assign his lease of County-owned property located at 505 Eagle Court, Byron.
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 August 1, 2019, the County leased the subject property to Skyview Aviation, LLC for the purpose of an aviation business at Byron Airport. The owner of Skyview Aviation, LLC now desires to sell the 100% membership interest of the business and assign all of his interest in the lease to Riya Enterprise, LLC. An assignment of the lease requires the prior written consent of the County. Staff recommends consenting to the assignment.
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