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Item No. 13 <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 />HANGAR A-7 <br />DATE: December 13, 2021 <br />BACKGROUND: The City of Paris received a verbal request from Sheradon Carter in October <br />to assign a ground lease for private Hangar A-7 to Collin Hadley. A Hangar Purchase Agreement <br />from Mr. Carter and Mr. Hadley was received by the City on November 8, 2021. <br />STATUS OF ISSUE: Collin Hadley would like to purchase the building from Mr. Carter. The <br />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 A-7, from Sheradon Carter to Collin Hadley, subject to the receipt <br />of required insurance and annual lease payment of $400.00. <br />