The Charlotte County Airport Authority has granted a request by the new tenant of the Punta Gorda Speedway to modify the lease agreement in exchange for improving the facility left vacant and bare by a former tenant.

At an authority meeting Thursday, Andy Haase of Three Palms Speedway of Punta Gorda, son of the speedway’s new tenant, went before the board to ask for a waiver of the performance bond required in the lease. Under the terms of the current lease, the new tenant is required to post a performance bond equal to 12 monthly rent payments, or roughly $76,000. In addition, the new tenant is required to pay the last month’s rent and a security deposit equal to three months’ rent upfront.