MEMORANDUM

 

 

TO:                  Mayor Hornaday and City Council

 

THRU: Walt Wrede, City Manager

 

FROM:            Sheri Hobbs, Personnel/Airport Terminal Manager

 

RE:                   Federal Express Airport Lease

 

DATE:             July 12, 2007

 

 

Federal Express has leased a cargo area at the Homer Airport Terminal since 1994.  Their current lease expires on August 24, 2007.  Federal Express has requested a new lease for three years.

 

 

 

RECOMMENDATION:      Approve the Federal Express Cargo Area Sublease and authorize the City Manager to sign.

 

FISCAL IMPACT:                $10,734.24 revenue to the airport fund annually.