Title
Sonic Financial Corporation Hangar License
Action
Action:
A. Approve a five-year license with Sonic Financial Corporation for hangar space at Wilson Air Center, and
B. Authorize the City Manager to renew the license for one additional, five-year term and to amend the license consistent with the purpose for which the license was approved.
Body
Staff Resource(s):
Brent Cagle, Aviation
Haley Gentry, Aviation
Explanation
§ Sonic Financial Corporation has been a hangar tenant with the Airport for the last 20 years.
§ Under this license, Sonic Financial Corporation will continue to use the hangar space for its corporate aircraft.
§ The annual license fee is $194,776.44. Aviation has set this rate based on fair market value.