Amarillo City Council
Agenda — 1 item
- <strong>CONSIDER APPROVAL - AIRPORT BUILDING LEASE WITH AAH RE HOLDINGS LLC DBA ALBERS AEROSPACE</strong><br>This item considers an agreement with AAH RE Holdings dba Albers Aerospace (Albers) for the lease of 156,526 sq. ft. of Building #602, with the address of 10901 Airport Blvd., at the Rick Husband Amarillo International Airport. Albers will primarily use the building for storage and light manufacturing of aviation and defense related products. The lease will begin on June 1, 2024 with an initial term of five years and two additional five-year option periods. This lease rate is slightly above the appraised value from the recent appraisal.Rental Amount: $28,100 per month (with annual CPI increases).Funding: This is a revenue contract.Budgeted: Yes, it is budgeted as revenue in the Airport's budget.
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