Title
4710 Yorkmont Road Facility Lease
Action
Action:
A. Approve a three-year lease agreement with Sky Chefs, Inc. for a facility at Charlotte Douglas International Airport, and
B. Authorize the City Manager to approve up to two, one-year extensions consistent with the purpose for which the agreement was approved.
Body
Staff Resource:
Brent Cagle, Aviation
Haley Gentry, Aviation
Explanation
§ The lease is for facility space for Sky Chefs, Inc.’s operations. The facility consists of 37,468 square feet and comprises 1.895 acres.
§ The annual rent is $414,100, and the three-year lease value is $1,242,300.
§ Rents for the facility will be adjusted periodically per the terms and conditions of the lease to keep pace with market conditions.
§ This activity is occurring on airport property located in Council District 3.
Fiscal Note
Funding: Revenue from the lease will be deposited into Aviation’s Operating Budget.