Regular Items 13.
Legal Committee
- Meeting Date:
- 03/27/2025
COMMITTEE:
Legal
CONTACT:
Hessel Yntema
CHAIR:
Ed Heldenbrand
ACTION REQUESTED:
Consider recommending approval to authorize AerSale for a ten (10) year lease agreement beginning April 1, 2025 and ending March 31, 2026 for Hangar 85 and building 240 at the Roswell Air Center. (Michelle Sanchez)
BACKGROUND:
Initiated by: Michelle Sanchez
AerSale requests to enter a ten (10) year lease for Hangar 85 consisting of 101,223 square feet and building 240 consisting of 16,286 square feet of useable space, more or less, located at the Roswell Air Center, commencing April 1, 2025, and ending March 31, 2026.
AerSale requests to enter a ten (10) year lease for Hangar 85 consisting of 101,223 square feet and building 240 consisting of 16,286 square feet of useable space, more or less, located at the Roswell Air Center, commencing April 1, 2025, and ending March 31, 2026.
FINANCIAL CONSIDERATION:
Tenant agrees to pay to Landlord as annual rent for Hangar 85, the sum of ($303,775.00), payable in 12 monthly installments of $25,314.58, and an annual rent for building 240, the sum of ($16,286.00), payable in 12 monthly installments of $4,944.59.
LEGAL REVIEW:
Leases have been sent to City Attorney for review.
BOARD AND COMMITTEE ACTION:
Legal Committee will be the first to consider this item.
STAFF RECOMMENDATION:
Consider recommending approval to authorize AerSale for a ten (10) year lease agreement beginning April 1, 2025 and ending March 31, 2026 for Hangar 85 and building 240 at the Roswell Air Center.