Title
Airport Facility Lease
Action
Action:
A. Approve a three-year lease with Jetstream Ground Services, Inc. for a facility located at Charlotte Douglas International Airport, and
B. Authorize the City Manager to extend the lease for one additional two-year extension term.
Body
Staff Resource(s):
Haley Gentry, Aviation
Ted Kaplan, Aviation
Explanation
§ Jetstream Ground Services Inc. has leased this facility for 15 years. The current lease will expire on December 31, 2020.
§ This facility consists of 3,400 square feet of office space and 18,500 warehouse space.
§ The initial three-year lease value is estimated to be $635,291.
§ Rents will be adjusted periodically per the terms and conditions of the lease to keep pace with market conditions.
§ This activity is occurring on airport property located in Council District 3.
Fiscal Note
Funding: Revenue from the lease agreement will be deposited in Aviation’s Operating Budget.