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Item No. 15 B <br />TO: Mayor & City Council <br />Grayson Path, City Manager <br />FROM: Janice Ellis, City Clerk <br />SUBJECT: LEASE REASSIGNMENT AT COX FIELD <br />DATE: May 24, 2021 <br />BACKGROUND: The City of Paris received a request from Mr. Larry David Ervin to reassign <br />a ground lease for private Hangar Q. This hangar is located west of the existing AAA Hangar. <br />The original lease is between the City of Paris and Larry David Ervin, beginning October 12, <br />2020, for a period of forty years. <br />STATUS OF ISSUE: Mr. Jay Hodge, President of O&H Air, LLC would like to purchase the <br />building from Mr. Ervin. The terms of the original lease agreement will not change. <br />BUDGET: N/A <br />RECOMMENDATION: Reassign the hangar ground lease agreement from Larry David Ervin <br />to Jay Hodge, President, O&H Air, LLC. <br />