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Item No. 9 <br />Memorandum <br />TO: Mayor, Mayor Pro -Tem & City Council <br />Grayson Path, City Manager <br />FROM: Paul Strahan, Airport Manager/FBO Operator <br />SUBJECT: LEASE ASSIGNMENT AT COX FIELD <br />DATE: October 25, 2021 <br />BACKGROUND: The City of Paris received a request from Mr. Skyler Burchinal to assign a <br />ground lease for private Hangar SKY. This hangar is located northeast of the existing Hangar A- <br />7. The original lease is between the City of Paris and Skyler Burchinal, beginning May 24, 2021, <br />for a period of forty years, with an annual payment of $1,350.00 based on the square footage. <br />STATUS OF ISSUE: LT Wings, LLC (Load Trail) would like to purchase the building from <br />Mr. Burchinal. The terms of the original ground lease agreement will not change. <br />BUDGET: N/A <br />RECOMMENDATION: Approve a Resolution authorizing assignment of the Airport Ground <br />Lease Agreement for Hangar SKY, from Skyler Burchinal to LT Wings, LLC (Load Trail), <br />subject to the submission of required insurance and annual lease payment of $1,350.00. <br />