The proposed new terms would have tenants paying $1.60 a square foot for the land as well as a $5,000 reversion deferral fee, allowing them to retain ownership of the hangars. City Council agreed to let the leases expire and directed staff to draft new leases as well as seek appraisals for the property.ĭuring the almost two-and-a-half-hour discussion, airport hangar occupants Matt Ragan and Kurt Goodfellow presented a possible 20-year extension for the ground leases. The discussion accounted for nearly half of the approximately six-hour meeting and did not deter the other council members from proceeding with a new rental agreement.Įach of the 28 hangar tenants had a 30-year land lease with a clause stating that the hangars would revert to city ownership when the agreement expired July 2. She said she wanted to have an open discussion about whether extending the leases, creating new ground leases or having the hangars revert to city ownership as provided by the original lease was best for Boulder City Municipal Airport.

City Council approved a new rental agreement Tuesday for its 28 hangars at the Boulder City Municipal Airport.īoulder City leadership approved a new agreement and rent amount for 28 airport hangars despite a last-minute effort by Councilwoman Tracy Folda to extend the previous leases.įolda had requested an item be added to the agenda for Tuesday’s, July 14, City Council meeting to present a proposal to extend the previous ground leases or create a new one.

Cedar city airport hangars