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increasing to $225/mo for the next <br />three years. <br />▪ South T-hangars (presently $125- <br />150/mo) $190/mo for first two years, <br />increasing to $250/mo for the next <br />three years. <br /> <br />• Lease Assignment <br />1. Lease Assignment, or sale of leasehold <br />improvements are allowed only with prior <br />approval by Kittitas County <br />• Reversion Clause - Residual Value of Leasehold <br />Improvements <br />1. County has the right to purchase <br />improvements at their then fair market value <br />as mutually agreed or per appraisal <br />2. In the event the county elects to purchase, <br />tenant has first right to lease the property <br />and improvements if the county elects to <br />relet the property <br />3. In the event the county does not elect to <br />purchase, tenant: <br />• May sell improvements to a party <br />holding a new lease on the property as <br />granted by the county <br />• May be required to remove the <br />improvements and restore the land <br />• May surrender the improvements to the <br />county <br />4. In the event of lease termination due to <br />tenant’s default, all improvements revert to <br />county <br /> <br />• Land development time limits on new leases <br />1. Currently not in our leases. This would <br />require a tenant desiring to build on airport <br />property to develop the land within a <br />predetermined time. If the tenant does not <br />begin development within the allotted time, <br />the lease is terminated. <br />• Notary of all leases exceeding one year. <br />1. Needs to be implemented for all new leases. <br /> <br /> <br />INTERACTION: BoCC Study Session, AAC and AAC subcommittee <br />discussion, Prosecutors office.