Print this page
Posted: June 25, 2020
Rapid City
Agenda Item Summary

Agenda Item Ref. #: LF070120 12

Agenda Item Title:

Approve Rapid City Regional Airport Rates and Charges for FY 2020 Revision 1

Origination Group:
Legal & Finance Committee
Origination Meeting Date:
07/01/2020
City Council Hearing Date:
07/06/2020
Staff Contact:
Patrick Dame, Airport Director
Agenda Item Summary:
The newly-updated rates and charges were approved by the Airport Board at its public meeting on June 23, 2020. Rapid City Municipal Code 2.72.070.E states that the Council is to approve Airport charges before they become effective. The new rates are based upon an appraisal conducted by Alan M. Wilson & Associates to determine the fair market rate for ground rent at the Airport. In light of the pandemic, the Airport Board deferred imposition of the new rates. No rate increases will occur in 2020 for existing leaseholds, and 50% of the adjusted rents will begin on January 1, 2021, with full implementation at 100% on January 1, 2022. Of the 32 leases that are affected by the adjusted rents, only two are impacted in this timeframe and qualify for the deferred implementation.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center

Recommendations:

Origination Recommendation Action:
Approve

Joomla! Debug Console

Session

Profile Information

Memory Usage

Database Queries