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NetJets and Authority continue lease talks after disagreement over capital contribution
Summary
NetJets and airport staff continued negotiations over a prorated capital contribution for North Road terminal renovations. Staff outlined a ~$641,000 prorated ask; NetJets countered with an offer focused on interior costs (~$180,000) and proposed rent abatement during relocation; the board left the arrangement month‑to‑month and asked staff to continue talks.
Negotiations between the Naples Airport Authority and NetJets continued without a final agreement Thursday after staff presented a prorated capital contribution of roughly $641,000 tied to exterior and interior improvements to the North Road terminal. NetJets’ Zach Burch said much of that total includes previously completed exterior work and parking‑lot components that were already budgeted; he said NetJets is prepared to pay a contribution toward the interior remodel and suggested approximately $180,000 as an initial offer.
Burch emphasized NetJets’ financial footprint at the airport — more than $18M in fuel purchases last year, substantial ground‑service equipment and parking spend, and a pledge to buy SAF and honor the curfew — and urged the board to weigh those commitments. NetJets also proposed rent abatement for the period when the tenant must relocate during construction as a bargaining point.
Commissioners praised NetJets as a high‑quality tenant but several argued the airport’s capital ask was insufficiently close to the board’s expectations. Commissioner Burns and others said the $180K figure was too low relative to the prorated capital cost and preferred to stay on a month‑to‑month arrangement while staff continued negotiations. Staff indicated they would continue conversations with NetJets and return to the board with a revised proposal.
