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Authority approves buyback and lease termination for former American Box Board hangar
Summary
The board approved a lease termination and bill of sale transferring ownership of the former American Box Board hangar from Ryan Shively to the airport; the purchase price listed in the agreement is $1.00 and the transfer is to occur pending a satisfactory inspection.
The Manistee Blacker Airport Authority approved a lease termination and bill of sale transferring the American Box Board hangar back to the Authority from lessee Ryan Shively. The motion, moved by Karen Goodman and supported by Preston Picardat, authorized the Airport Director to sign the agreement pending a satisfactory inspection.
The lease-termination agreement attached in the meeting packet lists the purchase price as One Dollar ($1.00). The board voted 7–0 to approve the action. The recorded motion specifies that personal hand tools and personal items stored in the hangar are excluded from the transfer and must be removed before the transfer date.
The agreement states that the Lease is terminated as of the effective date and that the Airport will take ownership of the hangar structure and appurtenances in its current condition ("AS‑IS, WHERE‑IS, WITH ALL FAULTS" language appears in the draft agreement). The board's action included authorization for the Airport Director to complete required inspection and closing steps.
