Airport Management has been using and relying on Wizard Software's REPortfolio™ Lease and Agreement Management Software since 2004. REPortfolio™ is a cloud-based, multi-relational database used to actively track, monitor, report, and analyze the airport's real estate portfolio. REPortfolio™ provides staff with the tools required to manage real properties at the airport and all related leases and agreements, property data, descriptions of building improvements, critical dates, and financial data. The database upgrade is necessary to, among other things, continue to receive technical support. Technical support for the airport's current version 8, first implemented in 2016, will soon expire and no longer be supported by the licensors.

The version 11 software upgrade will include, among other improvements, a project management module incorporating existing customization, development, and adding new customization, testing, data importing, and training. Upgrading to version 11 Professional will result in better performance, efficiency, regular security updates, and functional support for GASB 87 lease accounting and reporting standards.

This item is budgeted in the Information Technology Replacement Fund in the amount of $60,000. It will take approximately four months to complete the upgrade. As a web-based application hosted by the vendor, no additional or special resources are required of IT or of the Town.