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File #: 15-14315    Version: 1 Name:
Type: Consent Item Status: Agenda Ready
File created: 9/29/2020 In control: City Council Business Meeting
On agenda: 12/14/2020 Final action:
Title: Airport Facility Lease
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideoAudio
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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.