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Second Amendment to Aviation Ground Lease Agreement With Wolfswood Holdings, LLC, for Improvements Located at 15741 Technology Drive at Brooksville-Tampa Bay Regional Airport
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BRIEF OVERVIEW
On August 19, 2021, the Board approved a long-term lease agreement with Wolfswood Holdings, LLC for the Pem-Air facility located at 15741 Technology Drive, located at the Brooksville-Tampa Bay Regional Airport. Subsequently, on March 28, 2023, the Board approved a First Amendment to the Lease Agreement.
Wolfswood Holdings, LLC remains a tenant in good standing and is now requesting a Second Amendment to the Lease Agreement with the following changes:
• Expansion of Lease Area:
Add 320,166 square feet to the current leasehold, increasing the total leased area to 723,967 square feet.
• Right of First Refusal:
Grant a right of first refusal for five (5) years to lease an additional 17.6 acres located directly east of the current lease site, as depicted in Exhibit 2.
All other terms and conditions of the existing Lease Agreement, including the First Amendment, will remain unchanged.
FINANCIAL IMPACT
Additional revenue will be recognized, as summarized below:
Fund: 4311 - Airport/Industrial Park, Department: 07411 - Airport Operations, Account: 3620051 - Lease-Aviation in a minimum annual amount of $80,041.50.
LEGAL NOTE
The Board is authorized to act on this matter pursuant to Chapter 125, Florida.
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RECOMMENDATION
It is recommended that the Board approve and authorize the Chairman’s signature on the Second Amendment to the Aviation Ground Lease Agreement between Hernando County and Wolfswood Holdings, LLC.