Long-Term Ground Lease for Hangar Condominiums at PGD

The Authority is set to approve a 30-year ground lease with The Caves at PGD, LLC for 3.68 acres to build a six‑unit aircraft hangar condominium complex at $80,150.40 per year, less a $20,000 annual rent credit for required infrastructure. The lease includes three five‑year renewal options and five‑year rent adjustments based on CPI or fair market value.

Scope & details

The full contract record, as filed.

Contract amount

$80,150.40 annually for initial five-year term, less $20,000.00 annual rent credit

Contract type

FACILITIES

Contract term

Initial 30-year term commencing July 1, 2026, with three additional 5-year renewal options

Renewal

Three additional five-year renewal options following the initial 30-year term; rent subject to adjustment every five years based on CPI or Fair Market Value; annual rent credit of $20,000 during the initial five-year term for infrastructure work.

Document type

AgendaPacket

Source document

Charlotte County Airport Authority AgendaPacket 2026-06-18

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the facilities contract by Charlotte County Airport Authority?

The Caves at Pgd Llc was awarded this facilities contract by Charlotte County Airport Authority, as recorded on June 18, 2026. The contract value is $80,150.40 annually for initial five-year term, less $20,000.00 annual rent credit.

How much is the The Caves at Pgd Llc contract with Charlotte County Airport Authority worth?

The The Caves at Pgd Llc contract with Charlotte County Airport Authority is valued at $80,150.40 annually for initial five-year term, less $20,000.00 annual rent credit, covering facilities work.

What type of contract is this?

This is a Facilities contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in Charlotte County Airport Authority AgendaPacket 2026-06-18 (AgendaPacket), dated June 18, 2026 from Charlotte County Airport Authority. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does The Caves at Pgd Llc hold?

The Caves at Pgd Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View The Caves at Pgd Llc's profile

What is Charlotte County Airport Authority currently buying?

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