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Fifth Amendment to Fixed Base Operation Lease Agreement With American Aviation, Inc., for Additional Parcel Located at Brooksville-Tampa Bay Regional Airport
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BRIEF OVERVIEW
American Aviation, Inc., has been a tenant and the Fixed Base Operator (FBO) at Brooksville-Tampa Bay Regional Airport since September 23, 2003, and is a tenant in good standing. They are requesting to lease an additional, unaddressed parcel of land containing approximately 61,737 square feet.
Land rent for the additional parcel pertaining to Amendment No. 5 will be calculated at the current appraised aviation lease rate, resulting in two (2) lease rates for the FBO lease.
FINANCIAL IMPACT
Minimum annual rent in the amount of $15,434.25 ($0.25 * 61,737 sq ft) for Lease Amendment No. 5 will be recognized as follows:
Fund: 4311 - Airport/Industrial Park, Account: 3620026 - Lease-Fixed Base Operator.
LEGAL NOTE
The Board has the authority 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 Chairman’s signature on the attached Fifth Amendment to Fixed Base Operation Lease Agreement Between Hernando County and American Aviation, Inc.