FACILITIESRECOMMENDED

Indianapolis Airport Authority AgendaPacket Board of Directors Meeting 2026-05-15

IAA Considers Urban Farm Land Lease with Fishers

$6,534.00 per month ($78,408.00 annually) for July 1, 2026 – June 30, 2031; CPI adjustments thereafterIndianapolis Airport AuthorityCITY OF FISHERSMay 15, 2026

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Description

The Indianapolis Airport Authority is considering a 20-year land lease with the City of Fishers for approximately 36 acres at Metropolitan Airport to establish an Urban Farm, with rent starting at $6,534.00 per month and CPI-based increases. The lease includes a 10-year renewal option through 2056.

Contract Details

Contract Amount

$6,534.00 per month ($78,408.00 annually) for July 1, 2026 – June 30, 2031; CPI adjustments thereafter

Vendor

CITY OF FISHERS

Agency

Indianapolis Airport Authority, IN

Contract Type

FACILITIES

Document Date

May 15, 2026

Contract Term

July 1, 2026 – June 30, 2046 initial 20-year term, with 10-year renewal option July 1, 2046 – June 30, 2056

Renewal Date

2056-06-30

Renewal Info

Initial 20-year term July 1, 2026 – June 30, 2046, with a single 10-year option to renew through June 30, 2056; rent subject to CPI increases every five years starting July 1, 2031 and during renewal starting July 1, 2046.

Related Contracts

Issuing Agency

Indianapolis Airport Authority

Airport Authority

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Vendor