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Regular Council Meeting July 14, 2014 Page 7 match will go up. He inquired whether or not the people on the waiting list were residents of the City. Mr. Napier said about 75% were residents. Council Member Hashmi said they would not be able to determine the timeframe for the City to recover any funds on what the City was expending on construction, because they did not know the exact costs. He inquired about rental fees. Mr. Napier said the least expensive hanger was for an open hangar and that rented for a monthly fee of $135 and the other type hangar rented for approximately $160 a month. Council Member Hashmi wanted to know why the airport was not profitable and whether or not they could have non - resident renters pay an increased rate. Mayor Frierson said there were a number of people on a hanger waiting list and he knew of one Southwest Airline pilot who had been on the list for eight years. He also said there was a need for hangars and this was one way to help develop the airport. Council Member Grossnickle asked if the lease agreement had been revised. Mr. Napier said they were in the process of doing that and were looking at three different types of leases, which consisted of private hangars, aircraft business and commercial business. Council Member Grossnickle inquired if Mr. Napier had studied other similar airports with regard to lease agreements. Mr. Napier said that process had begun, but was not complete. Council Member Grossnickle suggested the monthly rental fees be set at the higher end, because there was such a demand. Council Member Plata said he knew they wanted do develop the airport, but expressed concern about spending a lot of tax payer money when it only benefited a small portion of the residents. Council Member Lancaster said they were trying to bring development to the airport, so that a profit could be made. A Motion to approve this item was made by Council Member Grossnickle and seconded by Council Member Lancaster. Motion carried, 7 ayes — 0 nays. 18. Consider and approve future events for City Council and /or City Staff pursuant to Resolution No. 2004 -081. Mr. Godwin reminded everyone about the Tour de Paris scheduled for July 19 and Mr. Price's announcement at the event at the park. 19. Adjournment. There being no further business, a Motion to adjourn was made by Council Member Pickle and was seconded by Council Member Grossnickle. Motion carried, 7 ayes — 0 nays. The meeting was adjourned at 6:30 p.m. MATT FRIERSON, MAYOR NICE ELLIS, CITY CLERK