REPORT/RECOMMENDATION TO THE BOARD OF SUPERVISORS
OF SAN BERNARDINO COUNTY
AND RECORD OF ACTION
July 26, 2022
FROM
TERRY W. THOMPSON, Director, Real Estate Services Department
JAMES E. JENKINS, Director, Department of Airports
SUBJECT
Title
Revenue Lease Agreement with Threshold Technologies, Inc. for Hangar, Shop, and Office Space at Chino Airport for the Department of Airports
End
RECOMMENDATION(S)
Recommendation
Approve a 10-year revenue Lease Agreement with Threshold Technologies, Inc., for the period of August 1, 2022 through July 31, 2032, with one five-year option to extend the term of the lease, for Commercial Hangar No. 2, F-340, consisting of approximately 44,060 square feet of hangar space, 7,098 square feet of shop space, and 1,062 square feet of office space, at Chino Airport for the Department of Airports for total revenue in the amount of $2,132,433.
(Presenter: Terry W. Thompson, Director, 387-5000)
Body
COUNTY AND CHIEF EXECUTIVE OFFICER GOALS & OBJECTIVES
Operate in a Fiscally-Responsible and Business-Like Manner.
FINANCIAL IMPACT
Approval of this item will not result in the use of Discretionary General Funding (Net County Cost). The total revenue to be received by the Department of Airports (Airports) during this 10-year lease agreement is $2,132,433 and will be deposited into Airports budget (6315001000). Annual revenue, including an initial three-month rent-free construction period followed by a three-month rent deferment to be paid over the next four years, for the period of August 1, 2022 through July 31, 2032, is as follows:
Period
Annual Lease Cost
August 1, 2022 - July 31, 2023
$ 193,776
August 1, 2023 - July 31, 2024
$ 209,924
August 1, 2024 - July 31, 2025
$ 213,800
August 1, 2025 - July 31, 2026
$ 217,753
August 1, 2026 - July 31, 2027
$ 205,637
August 1, 2027 - July 31, 2028
$ 209,749
August 1, 2028 - July 31, 2029
$ 213,944
August 1, 2029 - July 31, 2030
$ 218,223
August 1, 2030 - July 31, 2031
$ 222,5...
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