Title
Airport Facility Lease - 4821 Express Drive
Action
Action:
A. Approve a five-year lease with Delta Air Lines, Inc. for an office and warehouse facility at 4821 Express Drive, and
B. Authorize the City Manager to amend and extend the lease for up to five, one-year terms consistent with the purpose for which the lease was approved.
Body
Staff Resource(s):
Haley Gentry, Aviation
Ted Kaplan, Aviation
Explanation
§ Delta Air Lines, Inc. is a signatory air carrier providing passenger service at the Airport. To support its operations, Delta conducts in-house maintenance of its ground service equipment and intends to occupy an Airport facility for this purpose.
§ Delta currently leases this on-Airport facility to support their operation and wishes to renew the lease following the expiration of the current term.
§ The leased area consists of 6,305 square feet of warehouse space and 2,148 square feet of office space at 4821 Express Drive.
§ Terms of the lease include:
- Annual rent of $59,579, and
- Rent escalations 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