Title
From the Director, Department of Transportation and Public Works, and the Airport Director, requesting authorization to terminate the lease agreement between Milwaukee County and Everbrite Investment Co. and sell Everbrite's hangar facility at General Mitchell International Airport (GMIA).
Body
POLICY
County Board approval is required for the sale of hangar facilities and for the termination of lease agreements with tenants at General Mitchell International Airport (GMIA).
BACKGROUND
On July 13, 2006, Milwaukee County entered into Lease Agreement No. HP-1557 with Everbrite Investment Co. (Everbrite) for the lease of approximately 10,000 square feet of land on which to operate and maintain an aircraft hangar at GMIA. The agreement was for an initial term of five (5) years, commencing June 1, 2006, with Everbrite having the option to renew the agreement for one (1) additional term of five (5) years. Everbrite is now requesting that Milwaukee County approve the sale of its hangar facility to Freight Runners Express, Inc. (Freight Runners), and consent to the termination of its Lease Agreement No. HP-1557.
RECOMMENDATIONS
1. Airport staff recommends that Milwaukee County approve the sale of the Everbrite hangar facility to Freight Runners.
2. Airport staff recommends that Milwaukee County approve the termination of Airport No. HP-1557 between Milwaukee County and Everbrite Investment Co.
FISCAL NOTE
Ground rent paid by Everbrite will be picked up by Freight Runners Express. There will be no impact to the tax levy of Milwaukee County.
Prepared by: Steven Wright, A.A.E. - Airport Properties Manager
Approved by:
__________________________ ____________________________________
Jack Takerian, C. Barry Bateman
Director Transportation and Public Works Airport Director
H:\Private\Clerk Typist\Aa01\TPW&T 10\REPORT - Everbrite to Freight Runners Express-revised.doc