Submitted By: Matthew Grow
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Presentation By: Matthew Grow
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Department: Aviation
FORMAL TITLE:
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Assignment of airport ground lease from Tartan Holdings LLC to Aeroplex Ocala Hangar Association, Inc.
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OCALA’S RELEVANT STRATEGIC GOALS:
Quality of Place, Operational Excellence
PROOF OF PUBLICATION:
N/A
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BACKGROUND:
On October 1, 2021, the City entered into a 40-year ground lease with Tartan Holdings, LLC, a Florida limited liability company, at the Ocala International Airport. Tartan now wishes to assign its lease to Aeroplex Ocala Hangar Association, Inc.
FINDINGS AND CONCLUSIONS:
The original lease allows for the transfer and assignment of the ground lease. The original lease also permits the tenant to make leasehold mortgages. No other changes to the lease are proposed.
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