File #: 18-7803    Version: 1 Name: Commercial Lease Agreement, Helijet Holdings, Inc. - Location 9 North C
Type: Agenda Item Status: Consent Agenda
File created: 4/9/2018 In control: City Council Development Committee
On agenda: 5/1/2018 Final action: 5/1/2018
Title: Commercial Lease Agreement with Helijet Holdings, Inc. for Location 9 North C for a five (5) year term with the option to renew for two (2) additional five (5) year terms for a monthly rate of One Thousand One Hundred Dollars and 00/Cents ($1,100.00) and a monthly trash fee of Fifteen Dollars and 00/Cents ($15.00)
Attachments: 1. 180326 - Lease, Commercial, 9N- C, Heliget Holdings.pdf

From

Lydia Zuckerman

 

Title

Commercial Lease Agreement with Helijet Holdings, Inc. for Location 9 North C for a five (5) year term with the option to renew for two (2) additional five (5) year terms for a monthly rate of One Thousand One Hundred Dollars and 00/Cents ($1,100.00) and a monthly trash fee of Fifteen Dollars and 00/Cents ($15.00) 

 

Presenter

Mark J. Divita, C.M., Airport Director

 

Recommend Action

Approve

 

Analysis

Helijet Holdings, Inc. is a long time tenant of the airport in good standing.  This commercial lease agreement shall execute on June 1, 2018, and shall be a five (5) year term ending May 31, 2023, with the option to renew for two (2) additional five (5) year terms.

 

Financial Consideration

The lease will have a monthly rate of One Thousand One Hundred Dollars and 00/Cents ($1,100.00) and a monthly trash fee of Fifteen Dollars and 00/Cents ($15.00).  The total airport revenue (371010-43450) for this lease if both lease options are exercised is Two Hundred Thousand, Seven Hundred Dollars ($200,700.00).