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, VOLY RE, LLC, to assign its lease of County-owned property located at 1500 Sally Ride Drive, Concord, to Hapi314159, effective July 1, 2022.
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:
The County entered into a 30-year ground lease with Michael J. Oakes on June 21, 2016, for real property at Buchanan Field Airport, specifically at 1500 Sally Ride Drive, for the purpose of providing auxiliary aviation services. On May 31, 2019, Michael J. Oakes assigned the lease to VOLY RE LLC.
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