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CITY OF PARIS, TEXAS <br />CITY COUNCIL AGENDA REQUEST <br />MEETING DATE: <br />January 27, 2008 <br />■ Action ❑ Discussion ❑ Information ❑ Refer to: <br />SUBMITTED BY: <br />Lisa A. Wright, Director of Community Development <br />DESCRIPTION: <br />Consider a resolution approving a two year extension to the Lease Agreement with Air <br />Direct, LLC for Hangar N at Cox Field Airport. <br />BACKGROUND INFORMATION: <br />On October 9,1995, the City of Paris entered into a Lease Agreement with Mark Buster <br />for thirty-five (35) years in consideration of the construction by Mr. Buster of Hangar N <br />at Cox Field Airport. On January 9, 2006, Mark Buster assigned the Lease to Air Direct, <br />LLC. David Jones, the Managing Partner of Air Direct, proposes to upgrade the hangar <br />doors at a cost of $8,280.70 and has requested a two year extension to the Lease <br />Agreement. <br />On January 17, 2008, the Airport Advisory Board considered the request from Mr. Jones <br />and has recommended that the City Council approve the extension. <br />FISCAL AUTHORITY: <br />BUDGETED: NIA Account <br />GRANT: Account <br />BOND / C 0 Account <br />Other: See attached for recommended funding <br />LEGAL REVIEW: <br />MANAGER'S RECOMMENDATION: <br />