Submitted By: Matthew Grow
presenter
Presentation By: Matthew Grow
end
Department: Aviation
FORMAL TITLE:
title
Assignment of ground lease from Londons Landholdings, LLC to Wing It Florida, LLC
end
OCALA’S RELEVANT STRATEGIC GOALS:
Quality of Place, Operational Excellence
PROOF OF PUBLICATION:
N/A
body
On January 1, 2021, City Council approved a 40-year ground lease with Londons Landholdings, LLC (Londons) at Ocala International Airport. Londons now seeks to assign its lease to Wing It Florida, LLC.
FINDINGS AND CONCLUSIONS:
The original lease allows for the transfer and assignment of the ground lease with the City’s permission. The original lease also permits the tenant to make leasehold mortgages. No other changes to the lease are proposed. The Airport 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