SR-6-J (84)
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AP :TAW:mh Santa Monica, CaliforniaAPR f 2 199't
Council Meeting 4/12/94
To' Mayor and City Council
From : City Staff
Subject: Recommendation to Authorize City Manager to
negotiate and execute a lease with Bill's Airplane
and Repair Inc. for hangar space at Santa Monica
Airport.
Introduction
This report requests the City Council to authorize the City
Manager to negotlate and execute a lease with Bill's Airplane
and Repair, Inc. for hanga~ space at the Santa Monica Airport
Specialty Hangar Building.
Back9"round
The Specialty Hangar Building has hangar space avallable for
lease to aircraft specialty operators to conduct flight
training, aircraft maintenance and repair, avionics work and
aircraft charter and rental The hangar space is located on
the upper level of the building with the lower level reserved
for non-aviation businesses. The revenue from the hangar
space is used to pay the debt service on the construction of
the building There has been very little turnover of tenants
in the building since it was first leased in 1989. Recently,
with the recession the airport has seen tenants downsizing
and some tenant turnover in the building. The airport
receives market rents for the aviation space.
(1)).