Public Hearing: YES ? NO ? Department: Airport
SUBJECT:
Title
Commission District(s): 1 & 6
Lease Agreement with Signature Flight Support Corporation. There is no cost to the County.
Body
Information Contact: Mario A. Evans, Airport Director
Phone Number: 770.936.5440
PURPOSE:
To consider approval of new Lease Agreement with Signature Flight Support Corporation, effective November 1, 2017; and to consider authorizing the Chief Executive Officer to execute the new Lease Agreement.
NEED/IMPACT:
The new lease agreement was negotiated in accordance with the DeKalb County Code and is for a term of twenty years. This new agreement accomplishes the following in part:
(1) Updates and verifies the tract surveys for the 13.421 acres (584,583 square feet) involved in the lease;
(2) Provides for capital improvements to the leased ground and improvements thereon in the amount of $4,300,987.00, within three years from the effective date of the agreement;
(3) Escalates the monthly rent from $22,589.02 to $63,107.95 effective on the commencement date of the new agreement;
(4) Escalates the monthly rental payments by 10% every five years or a percentage rate computed by using the Consumer Price Index (All Urban Consumers, South Region) data;
(5) Establishes the fuel flowage fee in the amount of $0.14 per gallon for fuel, oils and lubricants delivered to the leased property;
(6) Increases the fuel flowage fee every five years by one cent per gallon or a percentage rate computed by using the Consumer Price Index (All Urban Consumers, South Region) data;
(7) Lessee is responsible for all maintenance, routine and/or emergency of all facilities;
(8) Lessee is responsible for all utility payments;
(9) Fully incorporates all existing airport security and access control measures for accessing the airside /
ramp side of the property.
FISCAL IMPACT:
This is a revenue generating lease agreement.
RECOMM...
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