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 an airport hangar ground lease from Townley Engineering and Manufacturing to Tem2025Holdings, Inc.
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OCALA’S RELEVANT STRATEGIC GOALS:
Operational Excellence
PROOF OF PUBLICATION:
N/A
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BACKGROUND:
The Ocala International Airport ground lease being transferred was originally executed with Townley Engineering and Manufacturing (Townley) in 2014. Townley has sold the corporate business but is retaining the hangar ownership, and thus requires assignment to their new corporate entity, Tem2025Holdings, Inc.
FINDINGS AND CONCLUSIONS:
•Original lease allows for the transfer and assignment of the ground lease.
•Townley is an existing Airport tenant and is also in good standing.
•No other changes to the lease are proposed.
•Staff recommends approval.
FISCAL IMPACT:
None.
PROCUREMENT REVIEW:
This Agreement has been reviewed by the Procurement & Contracting Officer in compliance with City policy.
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