Title
Honeywell International Inc. Hangar Lease
Action
Action:
A. Approve a 15-year lease agreement with Honeywell International, Inc., and
B. Authorize the City Manager to amend the lease for three, five-year lease extensions consistent with the purpose for which the agreement was approved.
Body
Staff Resource(s):
Brent Cagle, Aviation
Haley Gentry, Aviation
Explanation
§ Honeywell International, Inc. (Honeywell) desires to lease existing hangar and office facilities at Charlotte Douglas International Airport as a base for its corporate aviation department.
§ Honeywell will pay the City of Charlotte the agreed-upon facility rent for the hangar and office facilities, ground rent, other airport rents and fees as determined by the hangar lease agreement and in accordance with applicable federal guidelines governing the leasing of aeronautical facilities.
§ This activity is occurring on airport property, located in Council District 3.
Fiscal Note
Funding: Revenue from the lease agreement will be deposited within Aviation’s operating budget