Zimmer Asks Aviation Board for Extension on Hangar Lease
Posted
Craig Brosman-
Warsaw Board of Aviation Commissioners Tuesday heard Zimmer request an extension on its hangar lease.
John Martell spoke to the board about the possible extension of a contract for the hangar. Martell informed the board of two possible options that Zimmer Corp. has looked into.
Zimmer could either extend its lease for five years or extend its lease five years with an opt-out clause within the first 24 months with the specification that Zimmer would build a new larger hangar at the airport for expansion purposes.
Martell told the board that the opt-out plan does not mean that Zimmer will expand, but it is taking a proactive approach in its leases globally and this lease is especially important to the company since its headquarters are in Warsaw. Zimmer always has an opt-out plan in its leases, but for relocation purposes not expansion.
The board voted unanimously to approve the five-year contract with an opt-out clause at 24 months.
In addition to extending the Zimmer lease, the board agreed to keep the same officers as last year. Jay Rigdon is president, Gene Zale is vice president and Paul Grossnickle is secretary.
The next board meeting is Feb. 14 at 5:15 p.m. at the Warsaw Municipal Airport Terminal Building.
