Item C04BOARD OF COUNTY COMMISSIONERS
County of Monroe Al k Mayor George Neugent, District 2
The Florida. Keys m i = U, Mayor Pro Tem David Rice, District 4
1 l Danny L. Kolhage, District I
Heather Carruthers, District 3
Sylvia J. Murphy, District 5
County Commission Meeting
August 16, 2017
Agenda Item Number: C.4
Agenda Item Summary #3235
BULK ITEM: Yes DEPARTMENT: Airports
TIME APPROXIMATE: STAFF CONTACT: Donald DeGraw (305) 809 -5200
none
AGENDA ITEM WORDING: Approval to extend the term of lease for Coast FBO, LLC (d /b /a
Marathon General Aviation) at the Florida Keys Marathon International Airport from April 5, 2018
to April 5, 2041. The term extension is in accordance with an April 20, 2016 BOCC approved lease
agreement, based on the timely substantial completion of the "East Hangar" construction project.
ITEM BACKGROUND: On April 20, 2016, Coast FBO, LLC entered into a Master Lease
with Monroe County in order to consolidate the previous lease agreements including: 2
amendments, 5 extensions, and several consents to assignment.
The 2016 Master Lease stated the following for the "East Hangar" that was under construction at
the time of lease execution "If substantial completion or owner occupancy of the East Hangar
constructed pursuant to subparagraph 2)(b) of this Agreement occurs no later than May 13, 2017,
the County and the FBO shall enter into a written lease extension which will terminate this
Agreement on April 5, 2041. ".
Coast FBO. LLC informed the County that the "East Hangar" was substantially completed on May
8, 2017 and the subsequent Certificate of Occupancy was executed on May 17, 2017.
PREVIOUS RELEVANT BOCC ACTION:
April 20, 2016 — Lease agreement between Coast FBO, LLC and Monroe County; April 16, 2014
(Fifth extension of time to lease and lease amendment); March 21, 2012 & March 16, 2011 &
September 15, 2010 & March 17, 2010 (extensions of time to lease); April 15, 2009 & December
19, 2001 (Lease Amendments); April 6, 1998 original lease agreement.
CONTRACT /AGREEMENT CHANGES:
extension of an exisitng lease with Coast FBO, LLC.
STAFF RECOMMENDATION: Approval.
DOCUMENTATION:
Agreement
FINANCIAL IMPACT:
Effective Date: 8/16/2017
Expiration Date: 04/05/2041
Total Dollar Value of Contract:
Total Cost to County: N/A
Current Year Portion:
Budgeted: No
Source of Funds:
CPI:
Indirect Costs:
Estimated Ongoing Costs Not Included in above dollar amounts:
Revenue Producing: Yes If yes, amount: $10,837.92 per month and $0.10 per gallon of fuel
sold. In addition on April 5, 2018 the rent will be set at FMV as determined by an appraisal, if the
appraisal is lower than the current rent, there will be no adjustment of rental amount.
Grant:
County Match:
Insurance Required:
Additional Details:
REVIEWED BY:
Beth Leto
Completed
07/31/2017 12:56 PM
Donald DeGraw
Completed
07/31/2017 1:26 PM
Pedro Mercado
Completed
07/31/2017 1:32 PM
Budget and Finance
Completed
07/31/2017 2:54 PM
Maria Slavik
Completed
07/31/2017 2:54 PM
Kathy Peters
Completed
08/01/2017 4:00 PM
Board of County Commissioners
Pending
08/16/2017 9:00 AM
MARATHON FIXED BASE OPERATOR (FBO)
LEASE EXTENSION AGREEMENT
MONROE COUNTY
COAST FBO, LLC
THIS LEASE EXTENSION AGREEMENT is made and entered into this 16'" day of
August 2017 by and between Monroe County, a political subdivision of the State of Florida,
whose address is Marathon Airport, 9400 Overseas Highway, Marathon Florida 33050
(hereafter "County "), and Coast FBO, LLC., whose address is 9850 Overseas Highway, Suite
200, Marathon, Florida 33050 (hereafter "FBO ").
WHEREAS, on April 20, 2016, Coast FBO, LLC entered into a Master Lease
Agreement with Monroe County in order to consolidate the previous lease that included 2
amendments, 5 extensions, and several consents to assignment; and
WHEREAS, per the terms of Paragraph 5)(b) of the Master Lease Agreement if the FBO
substantially completed construction of the East Hangar pursuant to subparagraph 2)(b) of the
Master Lease no later than May 13, 2017, then the County agreed it would enter into a written
lease extension with the FBO which will terminate the Master Lease Agreement on April 5,
2041; and
WHEREAS, the East Hangar was substantially completed on May 8, 2017 and a
Certificate of Occupancy was subsequently executed on May 17, 2017; and
WHEREAS, the intent of Paragraph 5)(b) of the Master Lease Agreement was to
incentivize the diligent construction of the East Hangar; and
WHEREAS, the County finds that the FBO was in fact diligent in the construction of
the East Hangar; now, therefore,
IN CONSIDERATION of the mutual promises and benefits set forth below, the parties
agree as follows:
1. The term of the Master Lease Agreement is hereby extended and shall terminate
on April 5, 2041.
2. In all other respects the terms and conditions of the Master Lease Agreement
entered into on April 20, 2016 not inconsistent herewith remain in full force and effect.
3. This lease extension will take effect on the signature date of the last party to
execute this lease extension agreement.
IN WITNESS WHEREOF, each party has caused this Agreement to be executed by its
duty authorized representative the date first written above.
(SEAL)
ATTEST: KEVfN MADOK, CLERK
L
M331M
By
m
MEMMM�=�
OAST FB
B C