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Carson City Airport Authority approves change of ownership for Jet Ranch lease to charitable remainder trust
Summary
The Carson City Airport Authority approved a request to record a change in ownership for the tenant of the Jet Ranch lease: KCXP Investments LLC is now owned by the Gonzales Charitable Remainder Unitrust 2; staff said the local on-site manager remains in place and no lease assignment occurred.
The Carson City Airport Authority voted to approve a change in ownership for KCXP Investments LLC, the tenant on the Jet Ranch lease, transferring ownership to the Gonzales Charitable Remainder Unitrust 2.
Airport counsel Steve Takas said authority staff learned in 2023 that the trust had taken ownership of the entity holding the lease. Because the airport’s lease requires authority approval for changes of more than 25% ownership, staff requested documentation and an explanation. Takas said the transfer resulted from estate planning by Tom Gonzales and that the lease itself was not assigned or otherwise changed.
Takas told the board that the trustee provided a court order naming Douglas Hoffman as the new trustee and that Robert Reed, who had managed the property on-site, remains the local contact as an employee of the trust. Takas said staff did not identify operational problems and recommended approval.
A board member moved to approve the change of ownership and to update airport records; another member seconded. The board approved the motion (voice vote). No vote tally was recorded in the meeting transcript.
The action records a change in beneficial ownership of the tenant entity but does not alter lease terms or designate a new leaseholder on the face of the lease. Staff will file the trustee documentation with airport records.
