Council approves assignment of three FBO leases at Lake Havasu City Airport to Velocity Havasu Holdings

The Lake Havasu City Council voted Tuesday to consent to the assignment of three fixed‑base operator (FBO) leases and a fueling sublease at the Lake Havasu City Airport from Havasu Air Center LLC to Velocity Havasu Holdings LLC. Miss Gary, a city staff presenter, told the council the requested consents cover Site 3 (lease originally executed in 1992, assigned to Havasu Air Center in February 2025, expires 09/30/2027), Site 4 (original lease 2008, expires 2033 with a 10‑year extension option) and Site 6 (lease executed 2006, expires 2036 with a 10‑year extension option). The request also covers a sublease for the fuel island on Sites 1 and 2 that runs with a master lease expiring in 2043. Miss Gary said amendments to the Site 6 lease were proposed prior to assignment and include provisions addressing liens, mortgages and Federal Aviation Administration grant assurances. She also explained estoppel certificates were included in the packet to confirm lease terms for a potential buyer or lender. Council discussion included questions about ‘‘hot fueling’’ operations and related fire department responsibilities; Miss Gary said hot fueling is not specifically addressed in the assignment documents and that the city is still working through that issue under a separate ordinance and staff process. Councilmember Verdeli asked whether the assignments affect a separate south‑end development Request for Proposals; staff clarified that the assignment pertains only to existing FBO leases and does not transfer development rights or RFP opportunities. An applicant representative told the council the assignments would not give the assignee rights to participate in the city’s separate south‑end development RFP. A motion to approve the lease assignment, amendments and estoppel certificates passed 6–0. The council record shows the motion was made and seconded on the floor and recorded as unanimous.