City of Ardmore Regular Meeting Agenda April 6, 2026
Ardmore Approves 20-Year Airport Ground Lease
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Description
On March 16, 2026, Ardmore approved a long-term ground lease with Nimbus 2024 Limited Liability Company for property at the Ardmore Downtown Executive Airport, running from March 17, 2026 to March 17, 2046 with two five-year extension options. The lease covers Block 1, Lots 6 and 7 at 2485 Executive Airport Drive.
Contract Details
Vendor
NIMBUS 2024 LIMITED LIABILITY COMPANY
Agency
City of Ardmore, TN
Contract Type
FACILITIES
Document Date
April 4, 2026
Contract Term
March 17, 2026 – March 17, 2046 with two additional 5-year extensions
Renewal Date
2046-03-17
Renewal Info
Initial 20-year ground lease term from March 17, 2026 to March 17, 2046, with the option for two additional five-year extensions beyond the initial term.
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