Lease Information & Guidelines

Standard Lease

Term: 20 years, up to two 5 year option extensions permitted
Lease rate at the market rate of approximately 8% of estimated land value, standard CPI clause with 8% maximum per year
Standard lease can be negotiated by city staff and brought forward to the full City Council
May grant up to three months free start-up rent
Add sublease clause drafted by the city attorney
The city reserves the right to re-negotiate lease terms upon transfer of property
Must comply with all FAA requirements and city codes

Term: 30 years with flexibility to go to 50 years
Requires high employment (30 or more employees) or significant sales tax revenues
Requires City Council committee and city executive management involvement during negotiations
Lease rate at market rate or approximately 8% of appraised value for industrial properties, may go as low as 5%
CPI clause may be negotiated down to limit of 2% per year
May grant up to 6 months free start-up rent
Fixed base operators and aviation related businesses may also qualify for consideration.
Add sublease clause drafted by city attorney
The city reserves the right to re-negotiate lease terms upon transfer of property
Must comply with all FAA requirements and city codes