## FLIGHTLEVEL 

## AVIATION
Norwood Airport Commission (NAC) cc: Mr. Russ Maguire, Airport Manager 125 Access Road Norwood, 

### MA 02062 Re: FlightLevel Lease Extension Request Dear Mr. Chainnan and NAC 

### Members: PHONE : 781 . 769 . 8680 FAX: 781 . 769.7180 www .fllg htlevelav lati on . com



### As you know, FlightLevel Norwood (FLN) is planning some ambitious and exciting capital investmentprojects at OWD. While our immediate and mostpressing focus is surrounding the CAP Ramp Rejuvenation and Hangar Complex Construction Project, I'veprovidedbelowa Matrix which highlights details ofour majorplans looking over a 5-yeartime horizon: DesatpC!on Terminal RenOYatlon, Haflllar He;t

011-to-Gas Conversion, Hangar

Roof Repair/Replacement, ReflnlnlshlngofMaintenance Hangar Floor, Y1¥. Hangar Door Replacement, Various Crack Seal

CAP Ramp Rejuvell4ltlon and 19,000sqftMllti-UnitHangar Complex Contruction Y2K HangarExtension Pro)eato add approximately 10,00> sqft and

lnaease Northside DoorHeight lB,OOO sqft Box Hangar Contruction, T-bay Demolition GrandTotal 2012-2014

2014-2015
201&-2017
2011H019 $2.250,000 $800,00> $2,600,000 $6,000,000 80% Complete
Conditional AnandIIiApproved (PendingSuffldentleasehold Amortization Term), Hanpr TenantsConditionallySubsaibed Tentatively Planned Tentatively Plannep 

### Needless to say, we hope this 

### demonstrates ourlong-term commitment to the airport and 

### to positioning ourselves for capturing and attracting future growth inthe General and Business Aviation markets - to the benefit ofus all. Along those lines, we're pleasedto report that we've already subscribed deals withmultiple new turbine tenants for the mulit-unit CAP Hangar which have arrangements for maintenance and fuel business bundled 

### into them as well. It is our goal, withyourhelp, to break ground onthe CAP projectthis Spring and openthe doors for occupancy this Fall.
125 Access Road 

### Norwood , MA 02062 w w w . f li g h t l e v e l a vi a ti o n . c om

### In light ofthe sizeable investment this project encompasses, in additionto the lengthy amortization periodthat's required for a return on the investment and positive cashflow, we are respectfully requesting extensions ofourexisting Southside Leases outto 2050 for 35 years total term from the project completion date. The leaseholds included inthis category are the following: 1. Lot 5 (BMA), expires 2026 (approx. 12 years remaining) 2. Lots 6 and 7, expire 2026 (approx. 12 years remaining) 3. Lots A, B, C (aka A, B, C), expires 2014 (approx. 9 months remaining) Regarding Lot 5, we've already approached BMA and they have agreed to workwith us on an extension to the extent permissible under the Town-BMA agreement. To better illustrate the need for the requested term, I've attached the business plan which has guided this investment decision internally and includes projected detailed cash flows per the terms we've been able to negotiate with our financiers (see attached). For what it's worth, I'd also like to hwnbly volunteer that such a lease term is, in our experience, customary for the size ofinvestment that's being made. At our other FBO locations, where we've made similar investments, we were afforded terms similar to what we're requesting here and by the same logic (i,e. length ofterm commensurate with investment size). I would bemore than happy to share those leases with the commission ifthey would like to have a look for the sake ofcomparison. Finally, I truly believe that this is a 

### win-win scenario for boththe town and FlightLevel inthat it: 1. Secures long term dependable revenue for the Town 2. Secures additional business for the airport and FlightLevel 3. Secures sufficient investment security for us and our financiers. As always, please let me know ifyou all have any question, comments or concerns and we really look forward to working withyou moving forward. We will accommodate whatever date and time works for the NAC to meet onthis. Sincerely and Respectfully,



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**/** Peter Eichleay FlightLevelAviation - President 125 Access Road Norwood, MA 02062 W: 781 .769.8680 ext. 128 E: peter@flightlevelaviation .com F: 781.769.7180