Title
FedEx Cargo License
Action
Action:
Approve a month to month license for additional parking spaces for FedEx Corporation.
Body
Staff Resource(s):
Brent Cagle, Aviation
Haley Gentry, Aviation
Explanation
§ The Airport contracts with various tenants for space at the Airport.
§ As part of FedEx Corporation’s business operations, the company requires parking for tractor trailers at the Airport.
§ FedEx would like to initiate a month to month parking license for a monthly fee of $3,050.90.
§ This license will serve as a temporary solution until a parking addition on an existing facility is completed. Once the addition has been completed, a 10-year lease that was approved by Council in November 2017 will commence.
§ The parking addition is currently under construction and it is anticipated that it will be complete within three years. The total revenue generated from this license is estimated to exceed $100,000.