Authorize a forty year, with two ten-year renewal options lease agreement with RBD Development LLC, a special purpose vehicle of Sky Harbour Group Corporation, for approximately 653,400 square feet (15 acres) of undeveloped land at Dallas Executive Airport and a capital investment obligation of $35,000,000.00 - Estimated Revenue: Aviation Fund $13,650,000.00, over the primary term of the lease

Summary

The City Council is authorizing a 40-year lease agreement with RBD Development LLC (a subsidiary of Sky Harbour Group Corporation) for approximately 15 acres of undeveloped land at Dallas Executive Airport. The agreement includes two 10-year renewal options and requires a capital investment of at least $35,000,000.00 for new hangars, offices, apron areas, and a fuel farm. The estimated revenue to the Aviation Fund over the primary term is $13,650,000.00. This lease is designated as Contract No. AVI-2026-00029240 and takes effect immediately.

Citizen Impact

This agreement will lead to significant development and investment at Dallas Executive Airport, potentially increasing aviation-related economic activity and jobs, with no direct cost to residents.

Confidence

high