Title
Airport Facility Lease - 4710 Yorkmont Road
Action
Action:
A. Approve a lease with Sky Chefs Inc. dba LSG Sky Chefs for a term of three years for a catering facility at the Airport related to its airline support services, and
B. Authorize the City Manager to extend the lease for up to two, one-year terms and to amend the lease consistent with the purpose.
Body
Staff Resource(s):
Haley Gentry, Aviation
Ted Kaplan, Aviation
Explanation
§ Sky Chefs, Inc. currently leases approximately 37,468 square feet of the Airport’s facility at 4710 Yorkmont Road.
§ Sky Chefs, Inc. provides airport catering and international trash removal services for multiple airlines.
§ Terms of the lease include:
- Annual estimated revenue of $520,704.03 based on the current fair market value determination, and
- Annual lease increase of three percent per year to support the Airport’s federal requirement of remaining self-sustaining.
Fiscal Note
Funding: Revenues from this lease will be deposited into the Aviation Operating Budget