Title
Delta Airport Consultants, Inc. Lease
Action
Action:
Approve a 15-year lease agreement with Delta Airport Consultants, Inc. for office space at the airport.
Body
Staff Resource(s):
Haley Gentry, Aviation
Ted Kaplan, Aviation
Explanation
§ Delta Airport Consultants, Inc. will lease the property at 4814 West Blvd., Ste. A, which contains 7,371 square feet of office space.
§ Term is 15 years beginning June 1, 2024, and ending May 31, 2039.
§ Rent is $4,429.19 per month plus $900 per month for utilities. The cost of utilities will be updated annually based on the average monthly cost.
§ Lessee will expend $850,000 to upfit the Leased Premises. Should the city terminate the Lease, the lessee will be due a prorated portion of the upfit costs at a rate of $56,667 per year remaining in the lease.
Fiscal Note
Funding: Revenue from the lease will be deposited in the Aviation Operating Fund