STRATEGIC PRIORITY: Economic Development
AGENDA DATE: August 14, 2024
COUNCIL DISTRICT(S): 3, 6
DEPARTMENT: Department of Aviation
EXECUTIVE: Dev Rastogi
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SUBJECT
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Authorize (1) annual lease rental rates at Dallas Love Field of (a) $0.85 per square foot for aeronautical unimproved land; (b) $1.10 per square foot for aeronautical improved land; (c) $5.50 per square foot for storage hangars; (d) $6.25 per square foot for maintenance hangars; (e) $11.00 per square foot for office space; (f) $11.00 - $12.00 per square foot for cargo and support facilities; (g) $30.00 per square foot for terminal office space; (h) $2.64 to $3.85 per square foot for non-aeronautical commercial and retail use land; (i) $1.38 - $2.10 per square foot for non-aeronautical office use land; (j) $8.00 - $12.00 per square foot for non-aeronautical warehouse and storage use, and (k) $2.64 - $3.85 per square foot for non-aeronautical rental car development land, effective September 1, 2024; and (2) lease rental rates at Dallas Executive Airport of (a) $400.00 per month for T- hangars; (b) $20.00 per square foot annually for terminal office space; (c) $30.00 per day for single-engine aircraft tiedown; (d) $40.00 per day for multi-engine aircraft tiedown; (e) $6.00 per square foot annually for restaurant space; (f) $0.56 per square foot annually for non-aeronautical commercial land along Hampton Road and Challenger Drive; (g) $0.28 per square foot annually for other commercial land and light industrial; (h) $0.45 per square foot annually for aeronautical unimproved land; (i) ($0.55 per square foot annually for aeronautical improved land; and (j) $5.50-$6.50 per square foot annually for storage/maintenance hangars, effective September 1, 2024 - Financing: This action has no cost consideration to the City (see Fiscal Information)
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BACKGROUND
In an effort to remain on pace with changing market conditions, the Departmen...
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