FACILITIESAPPROVED

Archuleta County Ground Lease Agreement Francis J. Mathews May 2026

Archuleta County Airport Hangar Ground Lease Approved

$0.66 annually per square foot of land (1,890 sq ft; first-year rent $1,247.40)Archuleta CountyMATHEWS, FRANCIS J.May 1, 2026

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Description

Archuleta County’s Board of County Commissioners approved a 25‑year ground lease with Francis J. Mathews for a 1,890 square foot hangar site at Archuleta County Airport. The tenant will pay $0.66 per square foot annually with CPI-based adjustments and is responsible for constructing and maintaining hangar improvements and carrying liability insurance.

Contract Details

Contract Amount

$0.66 annually per square foot of land (1,890 sq ft; first-year rent $1,247.40)

Vendor

MATHEWS, FRANCIS J.

Agency

Archuleta County, CO

Contract Type

FACILITIES

Document Date

May 1, 2026

Contract Term

Twenty-five (25) years from effective date in May 2026; first and last years prorated to establish annual rental year beginning January 1; month-to-month holdover thereafter with consent

Renewal Info

Initial lease term is 25 years with a month‑to‑month holdover at the same prorated annual rental if allowed by Landlord. Tenant may request a new lease at the end of the term if the premises and improvements are in good repair and there are no uncured defaults; any new lease would be on mutually satisfactory terms.