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Request for Waiver of Late Fees by ICTC Properties, LLC, for December Lease Payment of Six Properties Located at Brooksville-Tampa Bay Regional Airport
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BRIEF OVERVIEW
ICTC Properties, LLC has been a tenant in good standing at Brooksville-Tampa Bay Regional Airport since 1998. They currently lease six separate parcels at the Airport.
Each lease agreement at the Airport contains language stating rents are due on the first of the month and a late penalty will be applied for all rents received after 5:00 p.m., on the tenth (10th) day of the month. The late payment fees vary in rate assessed depending on the Lease, and vary in amount assessed based upon the current base rent paid.
In January, the lease payment for ICTC Properties, LLC was received in our office, via USPS mail, on January 15, 2025. As per the lease agreements, each property was assessed a late fee. The total late fees assessed for all six properties is $561.72.
ICTC Properties, LLC is requesting the Board consider a one-time waiver of the late fees assessed in the month of January due to ICTC’s years of prompt payment and continued investment at the airport.
FINANCIAL IMPACT
The Airport’s budgeted revenue will not be impacted, there will only be a loss of the late fee amount of $561.72.
LEGAL NOTE
The Board has authority to act on this matter pursuant to Chapter 125, Florida Statutes.
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RECOMMENDATION
It is recommended that the Board determine if a waiver of the assessed late fees should be provided.