“Aeronautical use” means any use within the airport reserve that involves, makes possible, or is required for the operation of aircraft or that contributes to or is required for the safety of such operations. It includes, but is not limited to: air taxi and charter operations; scheduled or nonscheduled air carrier services; pilot training; aircraft rental and sightseeing; aerial photography; crop dusting; aerial advertising and surveying; aircraft sales and service; aircraft storage; sale of aviation petroleum products; repair and maintenance of aircraft; sale of aircraft parts; parachute activities; ultralight activities; sport pilot activities; and military flight operations.

“Airport market analysis” means an analysis that is conducted by a qualified general real estate appraiser and determines the gross changes that have occurred in the local market since the previous airport-wide appraisal as well as conducting a lease rate analysis.

“Airport reserve” means the City-owned land reserved from sale and designated under KMC 21.05.010 and 21.05.020.

“Annual rent” means an amount paid to the City annually according to the terms of the lease.

“City” means the City of Kenai, its elected officials, officers, employees or agents.

“Consumer price index (CPI)” means the CPI for all urban consumers (CPI-U) for Anchorage, Alaska.

“Existing lease” means a lease with at least one (1) year of term remaining.

“Expiring lease” means a lease with less than one (1) year of term remaining.

“Fair market value” means the most probable price which a property should bring in a competitive and open market as determined by a qualified independent appraiser, or the value as determined by the latest appraisal adjusted by the change in consumer price index from the date of the latest appraisal.

“Lease extension” means extending the term of an existing lease.

“Lease rate analysis” means an analysis of data collected from other land leases to determine whether the City’s lease rate percent reflects the market.

“Lease rate percent” means a percentage that when applied to the fair market value of land will establish a rate of rent commensurate with rental rates prevalent in the local area as determined by a qualified real estate appraiser.

“Lease renewal” means a new lease of property currently under lease to an existing lessee or a purchaser.

“Nonaeronautical use” means any use of airport land that is not an aeronautical use.

“Permanent improvement” means a fixed addition or change to land that is not temporary or portable.

“Permanent improvement” includes a building, building addition, retaining wall, storage tank, earthwork, fill material, gravel, and pavement, and remediation of contamination for which the applicant is not responsible.

“Permanent improvement” excludes items of ordinary maintenance, such as glass replacement, painting, roof repairs, door repairs, plumbing repairs, floor covering replacement, or pavement patching.

“Professional estimate of the remaining useful life of the principal improvement” means an estimate of the number of remaining years that the principal improvement will be able to function in accordance with its intended purpose prepared by a qualified real estate appraiser, engineer, or architect licensed in Alaska.

“Qualified independent appraiser” means a general real estate appraiser certified by the state of Alaska under AS 08.87, with experience in appraising airport property.

“Site development materials” means materials used for preparing a lease site for building construction or to provide a firm surface on which to operate a vehicle or aircraft. “Site development materials” include geotextile, fill, gravel, paving, utilities and pavement reinforcement materials.

“Site preparation work” means work on the leased premises to include clearing and grubbing, unclassified excavation, classified fill and back fill, a crushed aggregate base course and utility extensions.