Three-year renewal of the lease with Avis/Budget Rental Car, LLC, at the Ocala International Airport for annual rent and fees of approximately $310,368

Summary

The City Council is reviewing the second three-year renewal of the lease agreement with Avis/Budget Rental Car, LLC at the Ocala International Airport, extending services from February 1, 2026, to January 31, 2029. This amendment increases the annual rent for Avis/Budget's 365 square feet of counter space from $30.00 to $37.50 per square foot, totaling $13,687.50 for the counter space alone. The agreement also allocates more operational space, increasing dedicated parking spaces from 23 to 25 and ready/return spaces from 18 to 20. The total annual rent and concession fees are projected to be approximately $310,368, which includes a 10% concession fee on qualified gross receipts.

Citizen Impact

This renewal ensures the continued availability of rental car services at Ocala International Airport, offering convenience for residents and visitors. The increased revenue from the lease and concession fees supports the airport's financial sustainability and its ability to maintain and improve facilities.

Confidence

high