Lease Information

The preferred contract type is a land lease, which allows tenants to construct and operate facilities on Airport property while the Airport retains ownership of the land.

The lease runs for no more than 50 years from the Possession Date, following a 60–105 day Study Period during which the Lessee may freely withdraw.

This is a triple net ground lease, meaning the Lessee pays:

• Ground Rent (monthly, with annual escalations)
• All taxes on improvements, fees, utilities, maintenance, and insurance
• All costs of construction and any required environmental remediation caused by Lessee activities

Rent must reflect at minimum fair market value using an appraisal and a CLT approved market cap rate. Rent is based on the entire parcel leased, not just the area the tenant considers usable. Rent escalations follow a fixed schedule (e.g., annual increases) calibrated to market conditions.

All permanent improvements become City property at the end of the lease. Movable items, branding, and fixtures remain Lessee property.

Uses must be compatible with airport operations—non residential, non noise sensitive, and non interfering with navigation, wildlife mitigation, and FAA Part 77 height requirements. Apartments, houses, schools, daycares, hospitals, places of worship, and similar uses are prohibited. Common compatible developments include warehouses, restaurants, stores, and hotels.

Yes. If the land is needed for airfield related purposes (e.g., runway expansion or FAA mandated changes), the City may cancel with notice, must attempt to offer a comparable replacement site, and must buy out the unamortized value of improvements.

The Lessee must:

• Avoid introducing hazardous materials (other than standard non PFAS cleaners)
• Comply with all Environmental Laws
• Remediate any contamination caused by its operations
• Indemnify the City for environmental violations caused by the Lessee

A daily Remediation Fee applies if post termination cleanup delays the City’s ability to use the land.

Yes. The Lessee may freely assign the lease or place a leasehold mortgage on its interest, backed by the lessee’s improvements. Lenders get notice and cure rights and may step in to obtain a new lease after a default. There can be no lien on city property.

Any proposed construction at the Airport requires a 7460 analysis, which is a review submitted to the Federal Aviation Administration (FAA) to ensure that the project does not pose a hazard to air navigation. CLT staff are available to guide and support you through this required FAA process. In addition, any exterior or structural modifications—including signage—must receive Airport approval before any work can begin.