Title
A Resolution to Renew 5-Year Airport Franchise and License Agreement with Lightning Aviation LLC, Operating as Fixed Base Operator (FBO) at the Foley Municipal Airport
Summary
Description of Topic: (who, what, where, when, why and how much)
Renewal of 5 year agreement with Lightning Aviation to continue to operate as FBO. The terms of the lease agreement remain significantly the same with the exception of an increase in the monthly rent rate over a three year period so that at the start of the third year, rent shall be $1,000. Rent for last 5-year agreement was $500/month. Proposed rent for year 1 is $650/month, year 2 is $825/month, year 3 is $1,000 per month. It is also recommended that the lease period be approximately 5 year, 2 months for this agreement in order for the expiration to coincide with fiscal year end and future renewals will be on a fiscal year schedule.
Budgetary Impact:
Non-Capital Item:
____ Budgeted under account #_______________ (discussion item)
____ Not budgeted, requesting transfer of $__________ from Account #______________ to Account #_____________.**Request to Transfer Departmental Budget Dollars form must be attached**
____ Not budgeted requiring increase to account #___________ in the amount of $____________.**Request to Increase Departmental Budget Dollars form must be attached**
Capital - Departmental **Capital Purchase Worksheet form must be attached**
____ Budgeted under account #______________ for $_________ and described in budget as ________________________. Additional amount needed, if any: Increase in budget of $_________ OR, transfer of $________ from Account #____________ to Account #_____________**Request to Increase OR Request toTransfer Departmental Budget Dollars form must be attached**
____ Not Budgeted - account #____________ requires budget increase of $_____________.**Request to Increase Departmental Budget Dollars form must be attached**
Capital Project - **If ...
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