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Council OKs 10‑year hangar lease with 5 Rivers Jet Center at regional airport
Summary
Council approved a new 10‑year ground hangar lease (three 5‑year renewals) with 5 Rivers Jet Center for the hangar at 4690 Airport Road, updating terms to FAA recommendations and increasing annual airport lease revenue by $547.60.
The council approved a ground lease with 5 Rivers Jet Center at Central Wyoming Regional Airport after staff reported a July 2 ownership transfer of the hangar at 4690 Airport Road. Public Works Director Brennan Toman told council the new lease aligns terms with FAA recommendations, establishes a 10‑year term with three optional 5‑year renewals, requires city approval for assignments, and adjusts the per‑square‑foot lease rate and annual CPI adjustments. "The increased annual lease revenue from $2,327.30 to $2,874.90 will bring in an additional $547.60 per year for the airport," Toman said.
Council moved, seconded and approved the lease by voice vote. The council also authorized termination of the prior lease with Henderson Strategic Fund LLC and noted the airport board's recommendation to approve the new agreement.
