CCAA Resolution 2002-010i
RESOLUTION NO. 02-10
THE AUTHORITY APPROVE FIVE (5) YEAR EXTENSION WITH THE
IMMOKALEE REGIONAL RACEWAY WITH AMENDMENTS AND AUTHORIZE
THE CHAIRMAN TO EXECUTE ALL NECESSARY DOCUMENTS
WHEREAS, previously the Authority voted to instruct staff to negotiate a five (5)
year extension to the Immokalee Regional Raceway contract; and
WHEREAS, Immokalee Regional Raceway currently lease closed runway 4 -22 to
conduct 1/8 of a mile drag racing events primarily on Friday and Saturday nights; and
WHEREAS, 'staff has negotiated a five (5) year extension with the following
temis and conditions:
L Lease terminates on March 31 2007
2. Lease has a 30 day cancellation clause without cause
3. Tenant pays $2,750.00 per month
4. Tenant pays annual commercial operations privilege fee of $200 per year
5. Tenant pays 50% of all advertising gross revenue
6. Tenant agrees to construct a temporary lime rock road to drag racing site.
NOW THEREFORE, IT IS HEREBY RESOLVED BY THE COLLIER COUNTY
AIRPORT AUTHORITY, that the Authority approve five (5) year extension with the
Immokalee Regional Raceway with amendments and authorize the Chairman to execute all
necessary documents.
PASSED AND DULY--ADOPTED by affirmative majority vote of the Collier County
Airport Authority this 1 i ih day of March, 2001.
DATED:
Witness
Ri•ti "}fi; GAIL D. HAMBRIGHT
Notary Public, State of Florida
My comm. expires Aug. 19, 2002
Comm. No. CC768562
COLLIER COUNTY AIRPORT AUTHORITY
COLLIE AUNTY, FLORIDA
Stephen L. Price, Chairman