SUBJECT: Resolution
Title
Consideration of A Resolution approving the Third Amendment to Management and Operating Agreement with Vector Air Management, LLC: And Setting Forth Details in Relation Thereto
Body
DEPARTMENT: Planning and Development
PRESENTER: Russell Pennington, Town Engineer
Jason Hurd, Airport Manager
FISCAL INFORMATION:
Cost as Recommended: $0
Balance Available: $0
Budget Line Item Number: 000-00-000-000000-000000
New Appropriation Required: No
STAFF RECOMMENDATION:
Recommendation
Approve the Third Amendment to Management and Operating Agreement and authorize the Mayor to execute said agreement.
End
SUMMARY AND BACKGROUND OF SUBJECT MATTER:
Before you tonight is the Third Amendment to the Management and Operating Agreement with Vector Air Management, LLC. The original contract was for 2011-2016. The second amendment was for 2017. This proposed Third Amendment is a 5 year contract that will commence on January 1, 2018 and will be in effect until December 31, 2022.
Town Staff and the Town Attorney have negotiated and reviewed this amendment and recommend that the Board of Trustees approve this amendment.
ATTACHMENTS:
a. Resolution
b. Third Amendment to Management and Operating Agreement