Ordinance approving 10-year renewal of the existing lease agreement with Padre Island Yacht Club of a lease of 2.89 acres of City property located near Whitecap Wastewater Treatment Plant and amending the lease to provide a new 5-year option to renew, in consideration of quarterly lease payments the greater of $2,500 per quarter or 5% of gross income from slip rentals and membership fees; and providing for publication and an effective date. (28-day delay required between readings)

Ordinance Passed Introduced July 17, 2024

What this record is

Held by: Padre Island Yacht Club
Amount: $3K
Runs until: July 17, 2034 8 years away calculated from the contract term stated in the record
Type: amendment
Field: Utilities & energy

Read automatically from the title of the official record. The source document below is authoritative.