Board consents to sale of Fort Pierce FBO to Bain Capital affiliate, approves amended action plan
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Summary
The board approved a consent resolution allowing BC Flex Midco LLC (a Bain Capital Real Estate affiliate) to acquire APP Properties Inc. as the airport's FBO, subject to a county lessor's consent and an amended action plan focusing on derelict aircraft removal and repairs to Hangar 3780; earlier confusion over an outdated action‑plan draft was corrected on the record.
The St. Lucie County Board of County Commissioners voted to consent to the assignment/merger that places APP Properties Inc. under BC Flex Midco LLC, an affiliate of Bain Capital Real Estate, and authorized the chair to sign the county lessor’s consent as approved by the county attorney. County staff said the buyer plans capital investment to improve hangars, build additional hangars and enhance FBO infrastructure.
Staff described a "cure" or action plan attached to the consent that identifies items the buyer or operator must address. County staff and airport leadership emphasized three primary items for the action plan in the packet: removal of derelict aircraft, remediation/maintenance of identified apron segments and repairs at Hangar 3780 on St. Lucie Boulevard. Staff later told the board the agenda packet contained an earlier draft of the action plan; after last‑minute edits the board confirmed that requirements related to additional fuel storage had been removed from the action plan and pavement obligations had been narrowed to a promise that the lessee will maintain apron areas identified on an attached map.
Dan Harrow (APP representative) and Cameron (airport director) participated in the discussion and committed on the record to work with county staff. County attorney Catherine Barbieri explained the procedural need to rescind and restate a prior motion so the board could vote on the corrected action plan language. Following that clarification the board approved the consent with the amended action plan by voice vote.
Why it matters: Because the county leases airport property to the FBO, lease provisions require county consent for an ownership change; the consent ties the approval to an action plan intended to address facility conditions and minimize operational risk while the new owner invests.
Quote: "We’re consenting to the merger into an affiliate of Bain Capital Real Estate and authorizing the chair to sign the lessor’s consent as approved by the County Attorney," staff said during the presentation. Dan Harrow and airport staff provided commitments on derelict aircraft removal and Hangar 3780 repairs during the board discussion.
Next steps: County staff will update the agenda backup to reflect the corrected action plan language and will monitor compliance with the action plan items; the board directed staff to return any material changes for additional board action.