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CL- 1939 Work Session   Item #:   E.    
Work Session Meeting
Meeting Date: 08/09/2018  
Subject:    Averett University Flight Center Lease
From: Marc Adelman

Work Session Meeting:     08/09/2018
Averett University has requested to renew its facility lease with the Danville Regional Airport and to occupy additional hangar space as part of the five year lease agreement.  As a result, the current monthly lease fee of $1100 is proposed to be increased to $1900 per month.  Other fees that Averett University pays as part of its lease for supporting the cost of the operations advisory tower in the amount of $4800 annually, have not been revised.  The University has agreed to the proposed fee arrangement for additional hangar space.
Averett University presently leases facility space at the Danville Regional Airport that includes a 12,908 square foot flight center building, an area to tie-down aircraft and a vehicle parking area for students and instructors.  The University has expressed interest to renew its five year lease and to occupy additional hangar space to support existing and future aircraft storage requirements.  The proposed five year lease renewal identifies an increase in rental fees from $1100 to $1900 per month that would include additional hangar space contingent upon the acquisition of the Daniel Group hangar which is a 3,894 square foot facility.   
It is recommended that Danville City Council approve a five year lease renewal agreement with Averett University for leased premises space at the Danville Regional Airport.

Averettt Lease Agreement

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