Commission approves two lease extensions; financial reports for June and July accepted

The Grosse Ile Airport Commerce Park Commission approved lease extensions and accepted financial reports for June and July 2025.

Lease approvals: The commission approved a 36-month lease for Cochran Investments LLC doing business as Hall's Flying Service for space in the airplane hangar, beginning Aug. 1, 2025. The rent schedule presented was $3,500 per month in year one, $3,600 in year two and $3,700 in year three, with two one-year extension options to be negotiated if exercised. The commission also approved 12-month leases, effective July 1, 2025 through June 30, 2026, for two commercial units: Unit 200 (Building 63) to 518 Biddle LLC at $1,200 per month and Unit 600 to Expert Mechanical Services at $1,300 per month.

Financial reports: Staff presented June and July 2025 financials. The commission approved the June financials and then approved the July financials. Staff reported year-to-date revenue of $457,636 against a revenue budget of $1,587,694 (about 29% of budget) and year-to-date encumbrances and expenditures of $336,767 (about 21% of the expenditures budget). Staff noted a past-due rent balance as of June 12 of $6,909 and told commissioners that a payment of $2,500 had been received recently toward that balance. Airport staff said year-to-date profit through July was $120,869.21 and total fuel sales were $43,841.56.

Actions and next steps: Both lease motions passed with standard roll-call-style "all those in favor" approvals. Staff will process the new lease documents and continue to monitor past-due accounts.

Ending: Commissioners moved on to discussion items after approving the leases and financial reports.