Public Hearing: YES ☐ NO ☒ Department: Airport
SUBJECT:
Title
Commission District(s): Commission Districts 1 & 6
Standardized T-Hangar Lease Agreement with Mark D. Frost
Body
Information Contact: Mario A. Evans, Airport Director
Phone Number: 770-936-5440
PURPOSE:
To consider approval of a standardized ten year T-Hangar Lease Agreement with Mark D. Frost, effective December 1, 2017; and
NEED/IMPACT:
There is no cost to the county.
The initial term of this lease is for ten years. The lease contains the provision for four (4) automatic two-year extensions. Each extension includes a rent increase of seven percent (7%) or an increase based on the consumer price index (CPI) whichever is greater.
For tenant to rent T-Hangar B-19 at the Airport.
Rental is comprised of the actual monthly rental fee for the leased premises ($375.00) which includes Lessor’s provision of electricity.
The County Attorney has reviewed the document and approved it as to form.
The original documents are in Purchasing and Contracting Department. A master copy of this lease has been placed in the Commissioners’ library for reference.
On February 10, 1999, the Airport Advisory Board approved a Policy Letter whereby “standard office leases” defined as leases of office, shop and storage spaces will not be brought before the AAB.
FISCAL IMPACT:
The Lease Agreement with Mark D. frost is a ten-year revenue generating initiative from which substantial benefit will inure to the public.
RECOMMENDATION:
Recommended Action
To approve a standardized ten-year T-Hangar Lease Agreement with Mark D. Frost , effective December 1, 2017; and To authorize the Chief Executive Officer to execute the Agreement.