Consider Action on a Resolution Approving a Three-Year Conventional Hangar Lease with ADS Importing, LLC, (dba Thrust Flight) for 4736 Airport Parkway at Addison Airport and Authorizing the City Manager to Execute the New Lease.

ADS Importing, LLC (dba Thrust Flight) sells, leases, and services light-sport aircraft and conducts flight training. It has been leasing this 2,466 square-foot office facility (with adjoining T-hangar) since 2016 as its flight-training school. ADS Importing, LLC’s current lease expires January 31, 2023; it is requesting the Town of Addison execute a new, three-year lease agreement with the primary term beginning February 1, 2023 through January 31, 2026. The proposed lease allows for either party to early terminate the lease with six-month advance written notice, or as otherwise agreed to by the parties.  ADS Importing, LLC is a tenant in good standing with the airport.

In support of its operations, ADS Importing, LLC also leases an adjacent 6,400 square-foot office/hangar facility for its flight training school and a 7,700 square-foot conventional hangar for its maintenance facility.

The table below shows the current and proposed rental rates:

Administration recommends approval.