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19-MOTION TO APPROVE NEW PASTURE LEASE AGREEMENT FOR PROPERTY AT COX FIELD
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19-MOTION TO APPROVE NEW PASTURE LEASE AGREEMENT FOR PROPERTY AT COX FIELD
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CITY COUNCIL AGENDA ITEM BRIEFING SHEET <br />Submittal Date: Originating Department: Presented By: Agenda Item No.: <br />4-18-12 19. <br />Council Date: City Manager Gene Anderson <br />4-23-12 <br />RECOMMENDED MOTION: <br />Motion to approve a new pasture lease agreement far property located at Cox Field Airport. <br />POLICY ISSUE(S): <br />Financial Management <br />The current pasture lease covering approximately 684.8 acres expires May 14, 2012. This land has been <br />leased by Carey Eatherly since 1992. The proposed lease is for five years with three options to extend <br />the lease. Staff proposes a lease rate would be $20.00 per acre. This rate matches the rate approved by <br />the Council last year for AG Pro's lease of nearby airport property. Mr. Eatherly contends that the <br />market rate for this property is $12.00 to $15.00 per acre because it is less desirable than the property <br />leased by AG Pro. Mr. Eatherly will be present at the Council Meeting to make his case for the lower <br />rate. <br />BOARD/ COMMISSION RECOMMENDATION: <br />None <br />EXHIBITS: <br />Map of lease area; Lease agreement; Resolution; <br />FISCAL NOTES: <br />None <br />REVIEWED AND APPROVED BY: <br />~ Administration ~ Ciry Clerk ❑ Community Development EMS/IT ❑ Finance ❑ Fire <br />❑ Municipal Court ~ Legal ❑ Library ❑ Police ❑ Eng./Public Works Utilities <br />City of Paris <br />BUDGET INFO: <br />ACTION: <br />~ Financial Report ❑ Minute Order <br />Expense <br />$N~~ <br />❑ Department Report M Resolution <br />Budgeted Amt. <br />$N~~ <br />~ Presentation ❑ Ordinance <br />yTD Actual <br />$N~~ <br />~ Public Hearing ❑ Other <br />Acct. Name <br />NI~ <br />Acct. Number <br />Nl~ <br />i$-A <br />Revised 2/04/08 <br />
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