REPORT/RECOMMENDATION TO THE BOARD OF SUPERVISORS
OF SAN BERNARDINO COUNTY
AND RECORD OF ACTION
October 26, 2021
FROM
TERRY W. THOMPSON, Director, Real Estate Services Department
JAMES E. JENKINS, Director, Department of Airports
SUBJECT
Title
Revenue Lease Agreement with Charles F. Nichols, Trustee of the Amended and Restated Nichols Family Trust Dated February 12, 2020 for Hangar, Office, Shop, and Ramp Space for the Department of Airports at the Chino Airport
End
RECOMMENDATION(S)
Recommendation
Approve a revenue Lease Agreement with Charles F. Nichols, Trustee of the Amended and Restated Nichols Family Trust dated February 12, 2020, for five years for the period of November 1, 2021 through October 31, 2026, with one two-year option to extend the term of the lease for a total of 67,049 square feet of space, comprising Hangar A-235 with 9,803 square feet of hangar space, 1,475 square feet of office space, and 1,921 square feet of shop space, and 53,850 square feet of adjacent ramp space, located at the Chino Airport, 7000 Merrill Avenue in Chino, for total revenue in the amount of $480,060 (Four votes required).
(Presenter: Terry W. Thompson, Director, 387-5000)
Body
COUNTY AND CHIEF EXECUTIVE OFFICER GOALS & OBJECTIVES
Operate in a Fiscally Responsible and Business-Like Manner.
FINANCIAL IMPACT
Approval of this item will not result in the use of additional Discretionary General Funding (Net County Cost). The total revenue to be received by the Department of Airports (Airports) during this five-year agreement is $480,060 and will be deposited into Airports budget (4003004550). Annual lease revenue is as follows:
Year
Annual Lease Revenue
November 1, 2021 - October 31, 2022
$ 92,292
November 1, 2022 - October 31, 2023
$ 94,116
November 1, 2023 - October 31, 2024
$ 95,976
November 1, 2024 - October 31, 2025
$ 97,872
November 1, 2025 - October 31, 2026
$ 99,804
Total Cost
$480,060
BACKGROUND INFORMATION
Approval of this item will provide fo...
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