AGENDA CAPTION:
Title
Consider approval of Resolution 2015-81R approving a five year Airport Facility Lease Agreement with Central Texas Wing, Commemorative Air Force, Inc. for the hangar space located at 2249 Airport Drive; and declaring an effective date.
Body
Meeting date: July 21, 2015
Department: Airport
Funds Required: N/A
Account Number:
Funds Available:
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CITY COUNCIL GOAL: Beautify & Enhance the Quality of Place for San Marcos
COMPREHENSIVE PLAN ELEMENT(s):
Economic Development Goal #6 - Promote and Support the Maximum Potential of the Airport
Objective #6 - Maximize development opportunities within the airport boundary.
BACKGROUND:
The renewal of the CAF lease was approved by Airport Commission on June 18, 2015. The salient points of the lease are:
• Lease of approximately 102,900 sq. ft. including a 33,330 sq.ft. hangar located at 2249 Airport Drive and a 2,178 sq.ft. storage building at 1841 Airport Drive.
• Lessee must comply with SMRA Rules & Regulations and Minimum Standards.
• Term of lease is 5 years (April 1, 2015 - March 31, 2020)
• Fixed rental rate of $1.00/year, 50% of gross proceeds for operation of Aviation Exhibit Hall and 15% of gross revenue from gift shop after sales tax has been deducted.
The Airport Commission voted unanimously to approve the lease. TAP recommends approval.