REQUEST FOR CITY COUNCIL ACTION
DATE: 07/19/2023
TO: Honorable Mayor and City Council Members
FROM: Community Services Department
SUBJECT:
Title
REQUEST FROM MASTER SUB-LEASE HOLDER DIAMOND AERO CORPORATION TO SUBLET OFFICE SPACE TO BWI AVIATION INSURANCE TO OPERATE AN AVIATION INSURANCE BUSINESS AT THE CORONA MUNICIPAL AIRPORT
End
EXECUTIVE SUMMARY:
This staff report asks the City Council to consent to the request from Diamond Aero Corporation to sublet office space within their leased premises to a new business called BWI Aviation Insurance. Diamond Aero Corporation is a Master Sub-Lease holder of Parcels II and VI at the Corona Municipal Airport. BWI Aviation wishes to relocate its insurance office to the Corona Municipal Airport. In accordance with the lease between the City and Diamond Aero Corporation, and requirements in the Corona Municipal Code, prior written consent is required by the City and the United States Army Core of Engineers before this action can take place.
RECOMMENDED ACTION:
Recommended action
That the City Council consent to the request from Diamond Aero Corporation to sublet space to BWI Aviation Insurance and authorize staff to assist in the furtherance of this consent to obtain approval from the United States Army Corps of Engineers.
Body
BACKGROUND & HISTORY:
The City of Corona (City) holds a recreational lease with the United States Army Corps of Engineers (USACOE) for the acreage that makes up the Corona Municipal Airport. The leasable space comprises hangars, offices, buildings, aircraft tie-downs, runways, and open space. The leasable space is apportioned into seven (7) separate parcels and subleased to three (3) master sub-lease holders as follows:
a. Parcel I is leased to CW Transportation, LLC
b. Parcel II & VI is leased to Diamond Aero Corporation and
c. Parcel III, IV, and V are leased to Corona Executive Hangars.
On May 16, 2018, Diamond Aero Corporation (DAC) entered into a lease agreement with th...
Click here for full text