TITLE
Consider a memorandum/resolution approving a lease agreement with the Texas State Technical College (TSTC) for hangar facilities at Skylark Field.
SUMMARY
AGENDA ITEM
Skylark Field Lease Agreement - Texas State Technical College (TSTC)
ORIGINATING DEPARTMENT
Department of Aviation
BACKGROUND INFORMATION
A 6,400 square-foot hangar designed to accommodate a variety of common corporate jets, turbo-prop aircraft, or helicopters and includes appropriate administrative space adaptable for office, classroom, shop space, restrooms, shower, kitchen, and related amenities has been available for lease at Skylark Field since December 31, 2014.
DISCUSSION/CONCLUSION
Staff has negotiated a lease agreement with TSTC for the lease of the hangar. TSTC is the only state-supported technical college system in Texas whose role and mission is "to efficiently and effectively help Texas meet the high-tech challenges of today's global economy in partnership with business and industry, government agencies, and other educational institutions." Through use of this facility, TSTC will bring a rotary-based curriculum and flight training program to Skylark and the Central Texas region and provide quality education and training for future rotary-wing pilots and aircrew.
The lease agreement is for an initial term of three (3) years beginning July 1, 2015, with two (2) successive automatic one-year extensions unless the tenant notifies the airport 60 days in advance of its intent not to renew the agreement. The tenant will pay the airport $3,100 per month during the first year. Beginning on the first anniversary of the term and each anniversary thereafter, the base monthly rental amount will increase by an amount equal to the percentage of change in the Consumer Price Index (CPI) for All Urban Consumers as published by the United States Department of Labor, Bureau of Labor Statistics. At the end of the five years, the tenant will have the option to renew the a...
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