Submitted By: Matthew Grow
presenter
Presentation By: Matthew Grow
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Department: Aviation
FORMAL TITLE:
title
Assignment of ground lease from Gabriels Winghouse, LLC to Wing It Florida, LLC
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OCALA’S RELEVANT STRATEGIC GOALS:
Operational Excellence, Quality of Place
PROOF OF PUBLICATION:
N/A
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BACKGROUND:
On November 15, 2016, City Council approved a 40-year ground lease with Gabriels Winghouse, LLC (Gabriels) at the Ocala International Airport. Gabriels now seeks to assign its lease, as amended, to Wing It Florida, LLC.
FINDINGS AND CONCLUSIONS:
The original lease, as amended, permits the transfer and assignment of the ground lease and allows the tenant to enter into leasehold mortgages.
The Airport Advisory Board supports the assignment.
Staff recommends approval.
FISCAL IMPACT:
N/A
PROCUREMENT REVIEW:
N/A
LEGAL REVIEW:
This agreement will be reviewed and approved for form and legality by City Attorney, William E. Sexton.
ALTERNATIVE:
• Approve with Changes
• Table
• Deny