24-1666
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 13.42 acre +/- tract of land, legally described as a 13.42 acres out of Block 1, Laredo Airport Subdivision, and Abstract 239, City of Laredo, Webb County Texas, as recorded in Volume 5, Page 1, of the Plat Records of Webb County, Texas, for the purposes of constructing and developing a fixed-base operator facility. The lease term shall be for thirty years, with one option to extend for an additional nine years. The monthly rent shall be $11,691.50, 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
- August 16, 2024
- On agenda
- September 3, 2024