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Item No. 21 <br />TO: Mayor, Mayor Pro -Tem & City Council <br />Rose Beverly, City Manager <br />FROM: Paul Strahan, Airport Manager / FBO Operator <br />SUBJECT: Reduction of Land on Lease <br />DATE: April 7, 2025 <br />BACKGROUND: Carey Eatherly and Ryan Eatherly have leased 698.9 acres from the airport for <br />livestock grazing purposes since May 15, 2012, with an annual payment of $10,483.50. <br />STATUS OF ISSUE: With the new addition of hangars on the north side of the airport, the overall <br />number of acres available to the be utilized for grazing has been effectively reduced by 8 5.8 5 acres. <br />Therefore, the lease is need of amendment regarding the number of acres available along with a <br />reduction in the annual payment. <br />BUDGET: Per the agreement, Carey and Ryan Eatherly are owed a refund of $1,287.75 prior to <br />May 15, 2025, and the new annual payment due on May 15, 2025, and going forward will be <br />$9,195.75. <br />RECOMMENDATION: Approve the reduction of acres and financial modification to the lease. <br />