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Council approves 10-year hangar lease with Triple R Aviation; company to invest $240,000 in improvements
Summary
Council authorized a 10-year master hangar lease at the Cleburne Airport with Triple R Aviation, which includes phased mandatory improvements totaling $240,000, projected annual revenue of about $42,000, and a plan to create 14 jobs; the lease contains enforcement and termination clauses tied to improvements.
The City Council authorized a 10-year master hangar lease with Triple R Aviation for Hangar 100 at the Cleburne Airport.
Airport staff reported the selection panel recommended Triple R Aviation as the highest and best proposal; the lease includes 22,944 square feet of ground space at published rates, 5,100 square feet of hangar and office area at an appraised rate, and voluntary premiums above fair-market value. Mandatory tenant improvements total $240,000 in two phases: $60,000 within 18 months for interior and exterior upgrades and drainage work, and $180,000 within 60 months for pavement and additional ramp space. Staff said previous leases produced much lower revenue (about $7,000 annually) and that this lease is expected to produce roughly $42,000 per year.
Council discussed enforcement of improvement obligations; airport staff said construction and receipts would be reviewed and that the lease includes termination and forfeiture clauses if required improvements are not made. The council approved the lease unanimously.
