Council denies 50-year ground-lease proposal for Addison Airport parcel after calls for master plan review

City staff presented a ground-lease proposal from Thrust Properties LLC to redevelop about 2.34 acres at Addison Airport with a 15,000-square-foot hangar and a 10,000-square-foot flight-training/support facility. Jamie (airport staff) said the minimum construction value was estimated at $10 million and that the base rent would be $82,705 per year (subject to CPI adjustments), with a 50-year lease term commencing on substantial completion or a specified date.

Don Rickerhauser, CEO of Millionaire Dallas (an established FBO at Addison Airport), urged council to complete the airport master plan before awarding any long-term lease on the Taxiway Sierra area so that the town and airport could evaluate highest-and-best uses side-by-side. "Completing the master plan will give the council, the airport, the community the ability to see the full range of development possibilities side by side before deciding," Rickerhauser said.

Council debate focused on process, competing proposals and timing. Several council members said they were comfortable with the staff-run RFQ that produced two respondents but expressed a desire to see other proposals or to wait for the master plan to ensure the long-term disposition matched broader airport strategy. Staff noted the RFQ was issued in June 2023, two responses were received, and that the other respondent's proposal was for aircraft storage but staff judged the Thrust proposal stronger in terms of facility and operational improvements.

After extended discussion about fairness to existing operators and the need for a comprehensive master plan, council voted to deny authorization of the ground-lease with Thrust Properties. Legal staff confirmed denying the authorization under the current RFQ process would not preclude Thrust or others from submitting a future proposal; council directed staff to return with options (reissue RFQ after the master plan, accept new competitive proposals or present further comparative analysis).

Council did not adopt the lease; the denial leaves open multiple paths for future airport-parcel disposition. Staff estimated the airport master plan has about a year remaining before final report submission and advised that the parcel would be evaluated in that master plan.

Next step: staff will prepare a memo outlining procedural options and recommended next steps for the airport parcel (timing, RFQ/competitive path, and coordination with the master plan).