Item No: 4.C.5.
Meeting Date: July 9, 2012
From: Doug Drymon, Deputy City Manager
Subject: Resolution authorizing execution of a Lease Agreement with Paul S. Soulé Enterprises, Inc. for the use of Corporate Block Hangar #3 at Leesburg International Airport.
Staff recommends approval of a Lease Agreement with Paul S. Soulé Enterprises, Inc., for the use of Corporate Block Hangar #3 at Leesburg International Airport.
In 2006, the City of Leesburg built three corporate block hangars at Leesburg International Airport. The floor area of each hangar is 60’ x 60’ or 3,600 square feet. Normally, each hangar is occupied by one tenant. A previous tenant of Corporate Block Hangar #3 vacated the hangar and left an interior office in an unfinished condition. The condition of this space has tended to diminish the utility of the hangar from the perspective of potential renters.
Mr. Paul Soulé wishes to rent Corporate Block Hangar #3 for his airplane brokerage business. Mr. Soulé plans include renovating the interior office for use as a small classroom for advanced flight instruction, and to serve as the headquarters for a small flying club. Mr. Soulé is willing to undertake renovations to the office space at his cost, in consideration for a 5-year lease with two 12-month extensions. It is in the City’s best interest to lease the hangar for this extended term.
1. Approve the attached Corporate Block Hangar Lease Agreement with Paul S. Soulé Enterprises, Inc.
2. Such alternative action as the Commission may deem appropriate
This Lease Agreement will generate $10,800.00 in revenue annually for the Airport during the first two years of the lease. Thereafter the annual rent will increase to $12,000.00 before adjustments for CPI.
Prepared by: ______DD______________
Attachments: Yes__X_ No ______
Advertised: ____Not Required ______
Attorney Review : Yes___ No ____
Reviewed by: Dept. Head ________
Finance Dept. __________________
Deputy C.M. _______DD_________
City Manager ___________________
Account No. _001-0000-362-0200__
Project No. ___________________
WF No. ______________________
RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE A CORPORATE BLOCK HANGAR LEASE WITH PAUL S. SOULÉ ENTERPRISES, INC.; AND PROVIDING AN EFFECTIVE DATE.
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA:
THAT the Mayor and City Clerk are hereby authorized to execute a Lease Agreement with Paul S. Soulé Enterprises, Inc., whose address is 981 Hawk Landing, Fruitland Park, FL 34731, for the use of Corporate Block Hangar #3 at Leesburg International Airport.
THAT this resolution shall become effective immediately.
PASSED AND ADOPTED by the City Commission of the City of Leesburg, Florida, at a regular meeting held the _9th____ day of July, 2012.