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Hangar No. 9 - LT Wings is proposing to construct (1) 120' x 100' hangar, hangar 9, parallel to <br />taxiway Alpha heading north. The ground lease agreement is for a 40 -year period and for an annual <br />payment of $3,000.00. The city will retain ownership of the land, and, as is typical with a ground <br />lease, once it expires the city can reclaim any fixed assets remaining on the site. The FAA has <br />approved of the proposed hangar location, the airport advisory board recommends approval of the <br />attached ground lease with LT Wings. <br />BUDGET: These additional private hangars will generate new revenues for the airport. <br />RECOMMENDATION: Authorize Interim City Manager to execute all 9 ground lease <br />agreements with LT Wings for construction of private hangars at Cox Field Airport. <br />