City of Camdenton Agenda 2026-06-02
City Plans 40-Year Airport Hangar Lease With LG Investments
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Description
Camdenton introduced an ordinance to authorize a 40‑year hangar ground lease with LG Investments LLC for hangar K‑3 at Camdenton Memorial–Lake Regional Airport. The lease starts June 2, 2026 with initial annual rent of $1,080, increasing 5 percent annually.
Contract Details
Contract Amount
$1,080 per year initial rent, increasing 5% annually
Vendor
LG INVESTMENTS LLC
Agency
City of Camdenton, MO
Contract Type
FACILITIES
Document Date
June 2, 2026
Contract Term
June 2, 2026 – June 1, 2066 (40-year ground lease)
Renewal Date
2066-06-01
Renewal Info
Base term is 40 years from June 2, 2026 to June 1, 2066; rent escalates by 5% annually starting with the second January 1 of the lease term. No renewal options are specified in the extracted text.
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