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City approves 3-year lease with Arkansas Therapy Group for airport building with rent-credit structure
Summary
The city approved a three-year lease (with two three-year renewal options) for a 2,400-square-foot building at the Hot Springs Memorial Airport to Arkansas Therapy Group LLC; staff proposed rent credits to offset substantial tenant renovation costs and separated land and building charges for FAA reasons.
The City of Hot Springs on July 15 adopted Resolution R-25-142 approving a lease with Jason and Jill Locomfora, doing business as Arkansas Therapy Group LLC, for a 2,400-square-foot building at Hot Springs Memorial Field Airport.
Don Rowlett, airport director, told the board the building had been vacant since a ground lease expired in 2017 and that the tenant proposes significant renovations to operate a pediatric therapy clinic.…
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