Title
A Resolution Approving the Lease of New T-Hangar Units and Establishing a Lease Rate
Summary
Description of Topic: (who, what, where, when, why and how much)
Construction of a new T-Hangar building is expected to be complete in mid September. Request approval to lease the new units and establish a lease rate.
Budgetary Impact:
Non-Capital Item:
____ Budgeted under account #_______________ (discussion item)
____ Not budgeted, requesting transfer of $__________ from Account #______________ to Account #_____________.**Request to Transfer Departmental Budget Dollars form must be attached**
____ Not budgeted requiring increase to account #___________ in the amount of $____________.**Request to Increase Departmental Budget Dollars form must be attached**
Capital - Departmental **Capital Purchase Worksheet form must be attached**
____ Budgeted under account #______________ for $_________ and described in budget as ________________________. Additional amount needed, if any: Increase in budget of $_________ OR, transfer of $________ from Account #____________ to Account #_____________**Request to Increase OR Request toTransfer Departmental Budget Dollars form must be attached**
____ Not Budgeted - account #____________ requires budget increase of $_____________.**Request to Increase Departmental Budget Dollars form must be attached**
Capital Project - **If requesting to start a project, a Capital Project Worksheet form must be attached**
In current year Capital Projects Plan:
_____ Yes, described as __________________________, planned amount $___________, requesting $_________ as total project estimate, including contingencies, under account #_________________
_____ No, requesting $___________ as total project estimate, including contingencies, under account #____________________.
_____ Yes, requesting an increase of $___________ to an already approved project titled ________________________ that is being tracked under Account No. ___________________.
_____ No, requesting an increase of $__________ to an already approved project titled _______________________ that is being tracked under Account No. _________________.
Body
WHEREAS, construction of a new T-Hangar building is expected to be complete by mid-September, and,
WHEREAS, the new building consists of eight full size units and two end units that are half the size , and,
WHEREAS, these units are all revenue producing spaces and a lease amount needs to be established, and,
WHEREAS, it is recommended that the full size units be leased for $350 per month for a total of $4,200 per year and the half-size units be leased for $175 per month for a total of $2,100 per year.
NOW THEREFORE BE IT RESOLVED that the City Council of the City of Foley, Alabama, as follows:
SECTION 1: Approves the lease of new T-Hangar units upon completion of construction.
SECTION 2: Establishes a lease rate of $350 per month for eight full size units and $175 per month for two half size units.
SECTION 3: This Resolution shall become effective immediately upon its adoption as required by law.