Title
Host International, Inc. Warehouse Leases
Action
Action:
A. Approve a three-year lease with Host International, Inc. for the warehouse located at 4732-B West Boulevard, and
B. Approve a three-year lease with Host International, Inc. for the warehouse located at 4800-A West Boulevard.
Body
Staff Resource(s):
Brent Cagle, Aviation
Haley Gentry, Aviation
Explanation
§ Host International, Inc. requires warehouse space to operate as the food and beverage master concessionaire at the Airport.
§ The fair market rent value for these facilities is as follows:
- 4732-B West Boulevard: (1,200 square feet, total annual lease value $21,312), and
- 4800-A West Boulevard: (6,400 square feet, total annual lease value $103,953.60).
§ This activity is occurring on airport property, Council District 3.
Fiscal Note
Funding: Revenue from the lease agreements will be deposited within Aviation’s operating budget