Nantucket Memorial Airport Commission Meeting Agenda May 2026
Ten-Year TSA Lease with Escalation Approved
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Description
The Airport Commission approved a ten-year TSA lease with the U.S. General Services Administration starting June 1, 2026 at $40,205 with 3% annual increases and a five-year renewal option. The agreement includes relocation provisions to accommodate the terminal optimization project.
Contract Details
Contract Amount
$40,205 with three percent (3%) annual increases
Vendor
UNITED STATES OF AMERICA GENERAL SERVICES ADMINISTRATION
Agency
Nantucket Regional Transit Authority, MA
Contract Type
FACILITIES
Document Date
May 12, 2026
Contract Term
Ten (10) year TSA lease commencing June 1, 2026, with a five (5) year renewal option
Renewal Date
2041-05-31
Renewal Info
One five-year renewal option after the initial ten-year term, subject to future exercise; includes relocation rights for the Airport for terminal redevelopment.
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