Title
4824 West Boulevard Warehouse Facility Lease
Action
Action:
A. Approve a three-year lease with Direct Link Logistics, Inc., and
B. Authorize the City Manager to approve up to two, one-year term extensions.
Body
Staff Resource(s):
Brent Cagle, Aviation
Haley Gentry, Aviation
Explanation
§ Direct Link Logistics, Inc. currently leases 4824 West Blvd, warehouse facility from the Airport.
§ The current lease expires on December 31, 2019.
§ The warehouse facility lease revenue is estimated to be $184,710.06 annually inclusive of improvements, ground rent, and airport service fee.
§ The three-year lease value is $554,130.18
§ 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.