License Agreement Awarded for Downtown Manhattan Heliport Operation

NYC Economic Development Corporation ( NYC EDC ) on behalf of the New York City Department of Small Business Services ( SBS ) has awarded a a License Agreement to Downtown Skyport LLC, who s address is 251 Little Falls Drive, Wilmington, DE 19808, for Operation of the Downtown Manhattan Heliport at Pier 6 in Manhattan.

The concession, which was awarded by a 1-13 Competitive Sealed Proposal method, will provide for a five (5) year term with three (3) five (5) year options to renew for a total potential term of twenty (20) years. Compensation to the City will be as follows: The greater of a minimum annual guarantee, to be increased per annum at a rate of 4% based on the schedule below, versus 42.50% of gross receipts.

Initial Term: Year 1 $2,750,000 vs. 42.50% Year 2 $2,860,000 vs. 42.50% Year 3 $2,974,400 vs. 42.50% Year 4 $3,093,376 vs. 42.50% Year 5 $3,217,111 vs.

42.50% NYC Economic Development Corporation ( NYC EDC ) on behalf of the New York City Department of Small Business Services ( SBS ) has awarded a a License Agreement to Downtown Skyport LLC, who s address is 251 Little Falls Drive, Wilmington, DE 19808, for Operation of the Downtown Manhattan Heliport at Pier 6 in Manhattan.

The concession, which was awarded by a 1-13 Competitive Sealed Proposal method, will provide for a five (5) year term with three (3) five (5) year options to renew for a total potential term of twenty (20) years. Compensation to the City will be as follows: The greater of a minimum annual guarantee, to be increased per annum at a rate of 4% based on the schedule below, versus 42.50% of gross receipts.

Initial Term: Year 1 $2,750,000 vs. 42.50% Year 2 $2,860,000 vs. 42.50% Year 3 $2,974,400 vs. 42.50% Year 4 $3,093,376 vs. 42.50% Year 5 $3,217,111 vs. 42.50% First Renewal Option: Year 6 $3,345,795 vs. 42.50% Year 7 $3,479,627 vs. 42.50% Year 8 $3,618,812 vs. 42.50% Year 9 $3,763,565 vs. 42.50% Year 10 $3,914,107 vs. 42.50% Second Renewal Option: Year 11 $4,070,672 vs. 42.50% Year 12 $4,233,499 vs.

42.50% Year 13 $4,402,839 vs. 42.50% Year 14 $4,578,952 vs. 42.50% Year 15 $4,762,110 vs. 42.50% Third Renewal Option: Year 16 $4,952,595 vs. 42.50% Year 17 $5,150,698 vs. 42.50% Year 18 $5,356,726 vs. 42.50% Year 19 $5,570,995 vs. 42.50% Year 20 $5,793,835 vs. 42.50% Agency: Small Business Services Status: Award