AGENDA CAPTION:
Title
Consider approval of Resolution 2024-48R, approving ground leases with 2080 Airport Drive, LLC., for an office/hangar facility and a fuel facility, and a facility lease with Redbird Flight Simulations, Inc. at the San Marcos Regional Airport; authorizing the City Manager, or her designee, to execute the leases and associated documents and approvals; and declaring an effective date.
Body
Meeting date: April 2, 2024
Department: Airport
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Background Information:
Redbird Flight Simulations, Inc. (RFS) entered into a ground lease with the City in 2011 to build a hangar/office facility and a fuel facility, and additionally to lease an existing 900 square foot city-owned facility to utilize as office space.
RFS is selling their private facilities associated with the lease located at 2080 Airport Drive (office/hangar facility) and 1730 Airport Drive (fuel facility) to 2080 Airport Drive, LLC while retaining the lease for the small office building (1827 Airport Drive).
As part of the sale to 2080 Airport Drive, LLC...
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