Charlotte County Airport Authority Agenda Packet 2026-06-18
Board Approves Long-Term Ground Lease with NSMKM LLC
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Description
The Authority approved a 30-year ground lease with NSMKM, LLC for 1.18 acres in the Northside Development Plan at a starting annual rent of $38,550.60, beginning July 1, 2026, with two 5-year renewal options.
Contract Details
Contract Amount
$38,550.60/year (first 5 years), with CPI or FMV adjustments every 5 years
Vendor
NSMKM LLC
Agency
Punta Gorda Airport Authority, FL
Contract Type
OTHER
Document Date
June 17, 2026
Contract Term
Initial 30 years from July 1, 2026, with two additional 5-year renewal options
Renewal Date
2061-07-01
Renewal Info
Two 5-year renewal options following the initial 30-year term. Rent adjusted every 5 years by CPI or FMV.
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