2025-O-85
Authorizing the City Manager to execute a parcel development ground lease agreement between the City of Laredo and Gravity Jets, LLC, Fort Lauderdale, FL, on a 5,004.15 square foot +/- tract of land, legally described as a 5,004.15 square feet tract out of the South part of Block No. 1, Laredo International Airport Subdivision and as depicted in the attached Exhibit, for the purposes of constructing and developing a concrete fuel containment pad of a size required by applicable regulatory agencies. Lease includes one option to extend for an additional nine years. The monthly rent shall be $250.00, and shall be adjusted commencing on the first anniversary of the occupancy term effective date. Rent shall be adjusted on each successive anniversary thereafter by the percentage change in the consumer price index (CPI); providing for severability; and providing for an effective date.
- Committee
- City Council
- Requested by
- Airport
- Introduced
- April 15, 2025
- On agenda
- May 5, 2025
Where it was heard
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