SUBJECT: Approval of a Ground Lease Between the City of Merced and Holding Pattern, LLC for Development of a Private Hangar on Approximately 10,000 Square Feet of Land on the Merced Regional Airport with Rent Starting at $3,100.00 per Year for a Term of Thirty (30) Years, with an Option Term of Fifteen (15) Years REPORT IN BRIEF Considers a lease agreement (30-year term with 15-year option) with Holding Pattern, LLC for use of approximately 10,000 square feet located on the Merced Regional Airport for development of a private aircraft hangar. RECOMMENDATION City Council - Adopt a motion approving a lease agreement between Holding Pattern, LLC and the City of Merced for ground space at the Merced Regional Airport and, authorizing the City Manager or designee to execute all necessary documents.

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Holding Pattern, LLC 2 records across this site

Runs until

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Type

contract

Field

Real estate

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Holding Pattern, LLC also holds

SUBJECT: Rescind a Previously Approved Land Lease Agreement with Holding Pattern, LLC for Development of a Private Hangar on Approximately 10,000 Squa… Merced, CA

Committee

City Council/Public Finance and Economic Development Authority/Parking Authority

Introduced

December 18, 2020

On agenda

February 16, 2021

Passed

February 16, 2021