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Corporate Hangar Lease Agreement and Revocable License Agreement With Flightpath Aviation Services, Inc., at Brooksville-Tampa Bay Regional Airport
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BRIEF OVERVIEW
Flightpath Aviation has been a tenant in good standing at Brooksville-Tampa Bay regional Airport since 2011. Their current corporate hangar lease expires on December 31, 2023, and Flightpath Aviation is requesting an additional 5-year Corporate Hangar Lease agreement for the hangar located at 2303 American Flyer Way. The building contains approximately 4,730 square feet of interior floor space together with certain improvements. The term of the lease shall commence on January 1, 2024, and terminate on December 31, 2028.
Flightpath Aviation also currently has a Revocable License Agreement for a portion of Airport property for the purpose of aircraft parking which expires on December 31, 2023, and they request an additional 5-year Revocable License Agreement to commence on January 1, 2024, and terminate on December 31, 2028.
FINANCIAL IMPACT
The Airport will recognize a minimum annual revenue of $21,474.20 in Account No. 4311-07411-3620024 - Lease-Hangars and $9,270.00 in Account No. 4311-07411-3699023 - Misc Revenue-License Agreement.
LEGAL NOTE
Reviewed and approved for form and sufficiency by the County Attorney’s Office. The Board is authorized to act on this matter pursuant to Chapter 125, Florida Statutes.
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RECOMMENDATION
It is recommended that the Board approve and authorize the Chairperson’s signature on the attached Corporate Hangar Lease Agreement and Revocable License Agreement between Hernando County and Flightpath Aviation.