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 

investment projects at OWD. While our immediate and most pressing focus is surrounding the 

CAP Ramp Rejuvenation and Hangar Complex Construction Project, I've provided below a 

Matrix which highlights details of our major plans looking over a 5-year time horizon: 

DesatpC!on 

Terminal RenOYatlon, Haflllar He;t 

011-to-Gas Conversion, Hangar 

Roof Repair/Replacement, 

Reflnlnlshlng of Maintenance 

Hangar Floor, Y1¥. Hangar Door 

Replacement, Various Crack Seal 

CAP Ramp Rejuvell4ltlon and 

19,000sqft Mllti-Unit Hangar 

Complex Contruction 

Y2K Hangar Extension Pro)ea to 

add approximately 10,00> sqft and 

lnaease Northside Door Height 

lB,OOO sqft Box Hangar 

Contruction, T-bay Demolition 

Grand Total 

2012-2014 

2014-2015 

201&-2017 

2011H019 

$2.250,000 

$800,00> 

$2,600,000 

$6,000,000 

80% Complete 

Conditional Anand IIi Approved 

(Pending Suffldent leasehold 

Amortization Term), Hanpr 

Tenants Conditionally Subsaibed 

Tentatively Planned 

Tentatively Plannep 

Needless to say, we hope this demonstrates our long-term commitment to the airport and to 

positioning ourselves for capturing and attracting future growth in the General and Business 

Aviation markets - to the benefit of us all. 

Along those lines, we're pleased to report that we've already subscribed deals with multiple 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, with your help, to break ground on the 

CAP project this Spring and open the 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 of the sizeable investment this project encompasses, in addition to the lengthy 

amortization period that's required for a return on the investment and positive cashflow, we are 

respectfully requesting extensions of our existing Southside Leases out to 2050 for 35 years total 

term from the project completion date. The leaseholds included in this 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 work with 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 of investment 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 of term commensurate with investment size). I would be more 

than happy to share those leases with the commission if they would like to have a look for the 

sake of comparison. 

Finally, I truly believe that this is a win-win scenario for both the town and FlightLevel in that 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 if you all have any question, comments or concerns and we really 

look forward to working with you moving forward. We will accommodate whatever date and 

time works for the NAC to meet on this. 

Sincerely and Respectfully, 

_/7/~~ ~/-; . ? 

/ Peter Eichleay 

FlightLevel Aviation - President 

125 Access Road 

Norwood, MA 02062 

W: 781 .769.8680 ext. 128 

E: peter@flightlevelaviation.com 

F: 781.769.7180