Title
Airport Corporate Hangar License
Action
Action:
A. Approve a five-year license for hangar and office space with Duke Energy Business Services, Inc., and
B. Authorize the City Manager to renew the license for up to one, five-year term.
Body
Staff Resource(s):
Haley Gentry, Aviation
Ted Kaplan, Aviation
Explanation
§ Duke Energy Business Services, Inc. is requesting a five-year license with an option to extend for hangar and office space totaling 12,127 square feet.
§ Duke Energy Business Services, Inc. has utilized this hangar for seven years in support of its operation.
§ The rent is $169,918 annually for the initial term. Annual rent in the extension term, if applicable, will be set at fair market value.
Fiscal Note
Funding: Revenue to be deposited in Airport Operating fund.