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Statutory Deed for Severed Improvement Only With Flightpath Aviation Services, Inc., Transferring Hangar Only Located at 17330 Spring Hill Drive at Brookville-Tampa Bay Regional Airport as Part of Approved Incentive Agreement
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BRIEF OVERVIEW
Flightpath Aviation Services (FAS) is an aircraft maintenance, parts and services provider located at Brooksville-Tampa Bay Regional Airport (BKV) since 2011. On April 22, 2025, the Board approved an Aviation Ground Lease for FAS to relocate to the northeast side of the airfield and construct two 10,000 sf corporate hangars. In accordance with Hernando County Code Chapter 11.5 as an expanding targeted industry FAS was eligible for incentives detailed in the Hernando County Targeted Industry Job Creation and Incentive Program. The company requested that, in lieu of the monetary payments, the Jobs Creation Grant be made by the County by transferring to it the title to the hangar located on the 12.8 acres of land they propose to lease for this project. The hangar was constructed in 1979, was appraised in March of 2024 and deemed to have a market value of $20,000.00. Since that time, the hangar has sustained damage from Hurricane Milton. FAS intends to renovate the hangar and incorporate the facility into their aircraft maintenance campus.
Staff is requesting that the Board sign the attached Statutory Deed which transfers only the title to the hangar to FAS as part of the Jobs Creation Incentives Agreement approved on April 22, 2025.
FINANCIAL IMPACT
The hangar’s previous lease expired July 31, 2025. No hangar revenue was budgeted for August and September.
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 approve and authorize the Chairman’s signature on the attached Statutory Deed as part of Hernando County’s Incentive Agreement with FAS.