File #: 18-8147    Version: 1 Name: Commercial Lease Agreement, Helijet Holdings, Inc. - Location 9 North B
Type: Agenda Item Status: Consent Agenda
File created: 8/6/2018 In control: Airport
On agenda: 9/18/2018 Final action: 9/18/2018
Title: Commercial Lease Agreement with Helijet Holdings, Inc. for Location 9 North B for a ten (10) year term with the option to renew for one (1) additional five (5) year term for a monthly rate of Five hundred Fifty Seven Dollars and 00/Cents ($557.00) per month and a monthly trash fee of Fifteen Dollars and 00/Cents ($15.00); and authorize the City Manager or designee to execute any renewal options with the same terms
Attachments: 1. 180901 - Lease, Commercial, 9N-B, Helijet Holdings.pdf

From

Elsa Delgado

 

Title

Commercial Lease Agreement with Helijet Holdings, Inc. for Location 9 North B for a ten (10) year term with the option to renew for one (1) additional five (5) year term for a monthly rate of Five hundred Fifty Seven Dollars and 00/Cents ($557.00) per month and a monthly trash fee of Fifteen Dollars and 00/Cents ($15.00); and authorize the City Manager or designee to execute any renewal options with the same terms 

 

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 begin on September 1, 2018, and shall be a ten (10) year term ending August 31, 2028, with the option to renew for one (1) additional five (5) year term.

 

Financial Consideration

The lease will have a monthly rate of Five hundred Fifty Seven Dollars and 00/Cents ($557.00) per month 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 One Hundred and Two Thousand, Nine Hundred Sixty Dollars and 00/Cents ($102,960.00).