4. RENTAL AMOUNT. For the use and occupancy of the Hangar the Tenant shall pay

City Commission Meeting · 2026-04-13 · agenda_item

This item concerns the rental amount for a hangar. The tenant will pay a monthly rent plus applicable sales taxes, due on the first of each month. Late payments will incur a 5% charge if not paid by the 5th, and delinquency leading to termination can occur if not paid by the 10th. The landlord may increase rent annually by the lesser of CPI or 3%, with 15 days written notice before the effective date. This item is currently under review. The scope of work involves the ongoing management and potential adjustment of rental income for an existing facility. Future phases could involve lease negotiations and property management services. Local businesses such as accounting services, legal services, and property management firms could find opportunities. Engaging early before final lease terms are set may provide a competitive advantage.