Agenda Item Title:
Approve Rapid City Regional Airport Rates and Charges for FY 2021
Origination Group:
City Council Working Session
Origination Meeting Date:
12/02/2020
City Council Hearing Date:
12/09/2020
Staff Contact:
Patrick Dame, Airport Director
Agenda Item Summary:
The attached rates and charges for 2021 were approved by the Airport Board at its November 10, 2020, meeting. The only changes are to the ground lease rates which are either increased through an annual CPI adjustment, or the 2020 Market Rate Study, as per each individual lease agreement. There are no other changes to the 2021 Airport Rates & Charges.
Five (5) leaseholds have a 2020 Market Rate Study adjustment along with the 50% delayed implementation of the rate increase due to the COVID-19 pandemic, as per previous Airport Board and City Council action. Twenty-seven (27) leasehold rates are increased as per their lease agreement with a CPI increase of 1.70%.
Funding Source & Fiscal Impact (if applicable):
| Funding | Cost Center |
|---|---|
Recommendations:
Origination Recommendation Action:
Approve